Decree No. 76/2015/ND-CP, dated September 10, 2015, details a number of articles of the 2014 Law on Real Estate Business, requiring an enterprise engaged in real estate business to have a legal capital of at least VND 20 billion.
The Decree also stipulates model contracts for real estate business; transfer of contracts on hire-purchase of ready-built houses and construction works; transfer of contracts on purchase and sale or hire-purchase of future houses; and procedures for transfer of the whole or part of real estate projects.
The Decree takes effect on November 1, 2015, and replaces Decree No. 153/2007/ND-CP dated October 15, 2007.