Can Overseas Vietnamese Practice Real Estate Brokerage in Vietnam?

“Can overseas Vietnamese practice real estate brokerage in Vietnam?“ is a matter attracting the attention of many Vietnamese residing abroad who wish to participate in the domestic real estate market. Determining this right depends closely on the legal status of each individual and current legal regulations. The following article by Long Phan Consulting Company will analyze in detail the conditions and legal forms of practice for each group of overseas Vietnamese.

Conditions for overseas Vietnamese who still hold Vietnamese citizenship to work as real estate brokers

For overseas Vietnamese who still hold Vietnamese citizenship to practice real estate brokerage in Vietnam, current law stipulates that they must fully meet the following conditions.

Regarding professional qualifications

Vietnamese people residing abroad who still hold Vietnamese nationality according to the regulations in Clause 3, Article 3 of the Law on Vietnamese Nationality 2008 are legally recognized as Vietnamese citizens. Therefore, they have full legal status to be named in the application for a Real Estate Brokerage Practice Certificate. They also have the right to freely choose to practice in enterprises or establish and manage real estate service businesses in Vietnam without facing capital ownership barriers like foreign investors if they fully meet the regulations of the Law on Real Estate Business 2023.

Required conditions

Based on Clause 2, Article 61 of the 2023 Law on Real Estate Business, the conditions for overseas Vietnamese who still hold Vietnamese citizenship to practice real estate brokerage include:

• Having a real estate brokerage practice certificate.
• Must practice in a real estate trading floor service enterprise or a real estate brokerage service enterprise.

>>> See more: Overseas Vietnamese establish real estate intermediary enterprises

Overseas Vietnamese no longer hold Vietnamese citizenship

This group is subject to legal regulations for foreigners and people of Vietnamese origin residing abroad. Based on Article 24 of Decree 96/2024/ND-CP, overseas Vietnamese no longer holding Vietnamese nationality are eligible to participate in the exam for a real estate brokerage practice certificate in Vietnam when meeting the conditions in Article 25 of Decree 96/2024/ND-CP, specifically:

• Have full civil act capacity, not being examined for penal liability or serving a prison sentence.
• Graduated from high school or higher.
• Have a certificate of completion of a training course on real estate brokerage knowledge.
• Have submitted the exam registration dossier and exam fee to the Provincial People’s Committee.

Thus, overseas Vietnamese no longer holding Vietnamese nationality can still practice real estate brokerage in Vietnam if they meet the conditions under Clause 2, Article 61 of the Law on Real Estate Business 2023:

• Having a real estate brokerage practice certificate.
• Must practice in a real estate trading floor service enterprise or a real estate brokerage service enterprise.

Additionally, they can still participate in the market through indirect investment forms:

• Contributing capital, buying shares: They have the right to contribute capital or buy shares to establish or participate in real estate brokerage service enterprises in Vietnam according to the Law on Investment and Law on Enterprises.
• Management role: They can hold senior management positions (Board Members, CEO) to plan strategies.
• Enterprise requirements: The enterprise they invest in must still comply with business conditions in Clause 5, Article 9, and Clause 1, Article 61 of the Law on Real Estate Business 2023.

>>> See more: Can Foreigners Take the Real Estate Brokerage Practicing Certificate Exam in Vietnam?

Consulting services on real estate brokerage activities in Vietnam for foreign investors

Long Phan Consulting Company provides comprehensive consulting services, helping foreign investors and overseas Vietnamese correctly position their legal status and choose the most suitable market entry form, minimizing legal risks. We structure our support into the following key area:

Legal Positioning and Market Entry Strategy

• Support 1: Assist Clients in reviewing nationality documents to determine the status of Vietnamese nationality (retained or lost) to advise accurately on related rights and obligations.
• Support 2: Build an optimal roadmap based on business goals, from applying for nationality restoration (if eligible) and registering for practice certificate exams to establishing enterprises or contributing capital.
• Support 3: Advice on drafting trading floor operation regulations, labor contracts, and standard brokerage contracts to ensure compliance from the start.

Frequently Asked Questions About “Can overseas Vietnamese practice real estate brokerage in Vietnam?”

Below, Long Phan Consulting Company provides some frequently asked questions related to “Can overseas Vietnamese practice real estate brokerage in Vietnam?”. We invite interested clients to refer to this information:

Are real estate brokerage licenses issued by foreign countries valid in Vietnam?

No. Current Vietnamese law does not have provisions for recognizing or converting real estate brokerage licenses issued by foreign authorities into equivalents. Overseas Vietnamese wishing to practice in Vietnam are required to take an examination and obtain a license in accordance with Vietnamese law.

Legal basis: Clause 2, Article 70 of the 2023 Law on Real Estate Business.

What regulations apply to Vietnamese expatriates holding dual citizenship when practicing as a real estate broker?

Individuals holding dual citizenship, including Vietnamese citizenship, are legally still Vietnamese citizens. Therefore, they enjoy all the rights of Vietnamese citizens residing in the country, including the right to take certification exams and directly practice real estate brokerage.

Legal basis: Clause 2, Article 61 of the 2023 Law on Real Estate Business.

How long is a real estate brokerage license valid in Vietnam?

A real estate brokerage license is valid for 5 years from the date of issuance. Before the license expires, the license holder must retake the examination to have the license renewed if they wish to continue practicing.

Legal basis: Clause 4, Article 31 of Decree 96/2024/ND-CP.

>>> See more: New Real Estate Brokerage Certificate

How should the fees and commissions for brokers working for overseas Vietnamese be paid?

Individuals practicing as brokers (including overseas Vietnamese) are not allowed to collect money from clients on their own initiative. Fees and commissions must be transferred via bank to the account of the business where the individual works, and only then will the business pay the individual.

Legal basis: Article 63 of the 2023 Law on Real Estate Business.

Are individuals working as brokers required to attend annual training courses?

Yes. This is a mandatory obligation. Individuals practicing as real estate brokers must participate in annual training courses to enhance their professional knowledge and skills in real estate brokerage, keeping them updated on new legal regulations and improving their professional ethics.

Legal basis: Point c, Clause 2, Article 65 of the 2023 Law on Real Estate Business.

>>> See more: Is It Possible to Practice Real Estate Brokerage as an Individual

Conclusion

Vietnamese law does not restrict whether overseas Vietnamese can practice real estate brokerage in Vietnam. To practice, overseas Vietnamese need to fully meet requirements regarding behavioral capacity, practice certificates, and other related conditions.

Long Phan Consulting Company is always ready to accompany clients to resolve all obstacles. Please contact us via Hotline 1900636389 for timely and professional support.