Does having a master's degree in economics satisfy the criteria for auctioneers in Vietnam?

1. Does having a master's degree in economics satisfy the criteria for auctioneers in Vietnam?

Pursuant to Article 10 of the Law on Property Auction 2016 stipulates criteria for auctioneers as follows:

An auctioneer must fully satisfy the following criteria:

1. Being a Vietnamese citizen permanently residing in Vietnam, abiding by the Constitution and law, and possessing good ethical quality;

2. Possessing a university or postgraduate degree in law, economics, accounting, finance or banking;

3. Having graduated from an auction training course prescribed in Article 11 of this Law, except where he/she is exempted from such a course under Article 12 of this Law;

4. Having passed the examination of auction practice internship results.

Thus, if you have a master's degree in economics, you also need to meet the other criteria specified above to be an auctioneer in Vietnam.

2. What are cases of revocation of auction practice certificates in Vietnam?

According to Clause 1, Article 16 of the 2016 Law on Property Auction, revocation of auction practice certificates are as follows:

1. The holder of an auction practice certificate will have such certificate revoked in the following cases:

a/ One of the cases specified in Article 15 of this Law;

b/ He/she has failed to practice auction under Clause 1, Article 18 of this Law for 2 years after being granted the certificate, except where his/her failure is caused by a force majeure event;

c/ He/she is administratively sanctioned in accordance with the law on handling of administrative violations for the act prescribed at Point b or c, Clause 1, Article 9 of this Law;

d/ He/she is willing to quit practicing;

dd/ He/she is declared missing or dead.

According to this Article, auctioneers will have their auction practice certificates revoked when falling into one of the cases specified above in Vietnam.

Best Regards!