Skip to main content

  • AddRemove
  • Build a Report 
Legal Update

Wholly Foreign Owned Enterprise May Be Set Up in Real Estate Brokerage

27 April 2011
Mayer Brown JSM Legal Update

On 10 February 2011 the Vietnamese Ministry of Construction (MOC) issued Official Letter No. 172/BXD-HDXD in reply to the Management Board of Saigon South (Ho Chi Minh City)'s official letter regarding the establishment of Tram Oanh Uc Limited Company.
The MOC gave the following opinions:

  • The investment in establishing a wholly foreign owned enterprise to provide the service of real estate brokerage is eligible for being examined for issuance with an investment certificate as stipulated in the Law on Enterprises, the Law on Investment and legislation on real estate business.
  • The application documents show that the investors comprise two individuals of Korean nationality, of whom Mr. Park Yong Hoon has a certificate of real estate brokerage issued by Seoul City Authorities. This complies with the provisions in Article 10 of the Law on Real Estate Business.

The MOC proposed the Management Board of Saigon South to examine the application documents under the latter's authority.

For inquiries related to this Legal Update, please contact:

Dao Nguyen ( )

Thinh Dan ( )

Learn more about our Vietnam offices and Real Estate practice.

The Build a Report feature requires the use of cookies to function properly.  Cookies are small text files that are placed on your computer by websites that you visit. They are widely used in order to make websites work, or work more efficiently.  If you do not accept cookies, this function will not work.  For more information please see our Privacy Policy

You have no pages selected. Please select pages to email then resubmit.