What conditions are required for real estate projects formed in the future to be put into business?

Pursuant to Article 55, Article 56 of the Law on Real Estate Business 2014 regulations:

"Article 55. Conditions of real estate formed in the future to be put into business

1. Have documents on land use rights, project documents, construction drawing designs approved by competent authorities, Construction Permit in case a Construction Permit is required, documents on testing Collect the completion of construction of corresponding technical infrastructure according to project progress; In the case of an apartment building or mixed-use building with residential purposes formed in the future, there must be a record of acceptance of the completed foundation of that building.

2. Before selling or leasing future housing, the investor must notify the provincial housing management agency in writing about the housing's eligibility to be sold or leased.

Within 15 days from the date of receipt of the notice, the provincial housing management agency is responsible for responding in writing to the investor regarding housing eligible for sale or lease-purchase; In case of ineligibility, the reason must be clearly stated.

Article 56. Guarantee for sale, lease purchase of future housingi

1. Real estate project investors, before selling or leasing future housing, must have a commercial bank capable of guaranteeing the investor's financial obligations to customers. when the investor does not hand over the house on schedule as committed to the customer.

The State Bank of Vietnam announces a list of commercial banks capable of providing guarantees for real estate businesses formed in the future.

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Thus, the conditions of real estate formed in the future to be put into business are specified as above.