Vietnam
 On December 30, 2015 the Ministry of Construction issued Circular No. 11/2015/TT-BXD (Circular 11) regulating the issuance of real estate brokers’ practicing certificates; guiding the training on real estate brokerage and operation of real estate trading floors; and regulating the establishment and operation of real estate trading floors.Circular 11 took effect on February 16, 2016 and will repeal and replace: – Circular No. 13/2008/TT-BXD, dated May 21, 2008, of the Ministry of Construction guiding Decree No. 153/2007/ND-CP, dated October 15, 2007, of the Government regarding the guidance on implementation of the Law on Real Estate Business; and – Decision No. 29/2007/QD-BXD, dated December 31, 2007, of the Minister of Construction issuing the framework training program on knowledge of real estate brokerage, property evaluation and management of real estate trading floors. Practising certificate The exam for the Practising Certificate is structured with two sections, including the basic knowledge section and the specialised knowledge section. Each section will last for 120 minutes and the language used in the exam is Vietnamese. If the examinee is a foreigner, he/she is permitted to use a translator. Anyone who already has a valid Practising Certificate from a foreign country or who requires reissuance of the Practising Certificate in place of an expired Practising Certificate needs to take the basic knowledge section of the exam only. Establishment and operation of the real estate trading floors The Trading Floor shall be either an independent enterprise or a unit directly under the enterprise. Prior to the operational commencement of the Trading Floor, the enterprise is required to submit a dossier to the Department of Construction for management. Circular 11 also provides for the management structure of the Trading Floor which includes the Floor Director together with a specialised section consistent with the operational scale of the Trading Floor. The Trading Floors established prior to February 16, 2016 are permitted to continue operation, but by no later than July 1, 2016, these Trading Floors must fulfill all conditions stated in Circular 11. ––––––––––– |
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