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Developer license: what it is, why it matters, how to obtain it
What is a developer license in Vietnam?
Developer license — key facts
Document- Vietnamese name
- Giấy phép kinh doanh bất động sản
- Real estate business licence
- Issued by
- Provincial Department of Construction, as part of project approval
- When you see it
- During project due diligence, before any reservation deposit
- Typical cost to you
- €0 to obtain — independent verification typically €150–€400 (≈4.1M–11M VND)
- Validity
- Tied to the life of the approved project
- Re-confirmed by the developer at each new sale phase, not a fixed expiry date you need to track yourself
- Governing law
- Housing Law 2023 · Land Law 2024 · Decree 95/2024
- These are the texts our editorial desk cites throughout this cluster — no other regulatory source is used
- Required for
- Any purchase of an off-plan or newly built unit from a commercial developer
- Not required for resale purchases between private individuals, where the seller's own Pink Book is the relevant document instead
- Language
- Issued in Vietnamese
- A certified English or French translation is advisable if you plan to show it to a bank or lawyer outside Vietnam
Specimen: the developer's business licence
How a foreign buyer verifies the developer's licence
⏱ 1–2 weeks, completed before you sign
You do not apply for a developer's licence — it already exists, or it doesn't. Your task as a buyer is only to confirm one exists and that it genuinely covers the exact project you are buying into, not a neighbouring phase or an affiliated company with a similar name. These are the checkpoints our desk works through with your lawyer before any money changes hands, in the order we recommend.
- 1
Request the project's licence references
⏱ Before reservation
Ask the sales team — in writing, by email rather than a phone call — for the developer's business licence number, the licensed entity's full legal name, and confirmation that this specific project and phase fall under that licence. A serious developer will produce these details without hesitation, usually within a day, well before you are asked to commit to a reservation deposit.
DocumentsDeveloper's legal entity name · Project licence reference number
⚠A vague answer, or a licence issued to a different legal entity than the one printed on your contract, is a red flag worth walking away from.
→ law firms - 2
Have a lawyer verify it independently
⏱ 3–7 working days◈ ≈ €150–€400 (≈4.1M–11M VND)
Your lawyer cross-checks the licence and the project's approval status directly with the relevant provincial authority, rather than relying only on the documents the sales office supplies. This independent step is standard due diligence on any commercial project in Hanoi, whether or not the buyer is foreign — it simply matters more to you because enforcing a contract from abroad is harder if something later turns out to be wrong.
DocumentsCertified copy of the licence · Project approval reference
- 3
Confirm the foreign-ownership quota tied to the project
⏱ Same visit
A valid licence confirms the project may legally be sold; it does not, by itself, confirm that a foreign-ownership slot remains. Foreigners may hold at most 30% of the apartments in a given building, and that share fills up as units are reserved — sometimes long before a project is publicly marketed to overseas buyers. Ask the developer for written confirmation of how many units in the foreign quota are still available for your target project and building.
⚠Some sales offices quote quota availability verbally only, and figures can move quickly once a project is popular. Insist on written confirmation, dated, before paying anything.
- 4
Cross-check against the project's other core documents
⏱ Same engagement as Step 2
A licence is only one piece of the picture. Ask your lawyer to review it alongside the project's Business Registration Certificate, Investment Certificate, and — for off-plan purchases — the developer's bank guarantee for the phase you are buying into. Together, these documents tell you whether the entity in front of you is legally entitled to build, to sell, and to protect your deposit if construction stalls.
DocumentsBusiness Registration Certificate · Investment Certificate · Bank guarantee reference, for off-plan units
- 5
Keep a verified copy before you sign
⏱ Ongoing◈ ≈ €60–€150 (≈1.65M–4.1M VND) for certified translation, if required
Once verified, keep a certified copy of the licence — translated if needed — in your purchase file alongside the reservation agreement and, later, the Sale and Purchase Agreement. It becomes part of the paper trail your lawyer relies on if a dispute over the project's legality ever arises, and it costs nothing to keep on file once you already have it.
What it costs to verify a developer's licence
These are the buyer's own due-diligence service costs, not a government fee schedule — the licence itself is issued to the developer at no cost to you. Ranges reflect what our partner law firms in Hanoi typically charge for this specific check as part of a broader project review.
| — | Min | Max | Base |
|---|---|---|---|
| Independent lawyer verificationCovers the licence and the project's approval status | €150 (≈4.1M VND) | €400 (≈11M VND) | one-offBuyer, during due diligence |
| Certified copy from the issuing authority | €40 (≈1.1M VND) | €100 (≈2.75M VND) | one-offBuyer, requested via your lawyer |
| Certified translation (EN/FR) | €60 (≈1.65M VND) | €150 (≈4.1M VND) | one-offBuyer, if required for financing or notarisation |
| Extended check of related project documentsBusiness Registration Certificate, Investment Certificate and bank guarantee reviewed alongside the licence | €80 (≈2.2M VND) | €200 (≈5.5M VND) | one-offBuyer, optional |
| Total | ≈€330 (≈9.1M VND) | ≈€850 (≈23.4M VND) |
Example: verifying two shortlisted projects before choosing between them
- Lawyer verification (2 projects)
- €300 (≈8.25M VND)
- Certified copies
- €80 (≈2.2M VND)
- Certified translation
- €120 (≈3.3M VND)
- Extended document check, 1 project
- €150 (≈4.1M VND)
- Σ
- €650 (≈17.9M VND)
Housing Law 2023 · Land Law 2024 · Decree 95/2024
Lawyers who verify developer licences for foreign buyers
Frasers Law Company
★Premier cabinet à avoir obtenu une licence de cabinet étranger au Vietnam (32 ans, 17 practices). Corporate & M&A, Real Estate & Construction, banking & finance, foreign investment, data protection, compliance. Conseil international pour entreprises étrangères investissant au Vietnam.
Ho Chi Minh City + Hanoi · EN, VN
Vision & Associates
★Investissement étranger, immobilier, corporate/M&A, propriété intellectuelle, conseil - ~90 avocats/conseils
Hanoi · Vietnamien, Anglais
GV Lawyers (Global Vietnam Lawyers)
★Conveyancing immobilier, due diligence, acquisition foncière, conseil aux acheteurs étrangers, transactions résidentielles/commerciales
Ho Chi Minh City · Vietnamien, Anglais
Russin & Vecchi
★Cabinet international parmi les premiers cabinets étrangers licenciés au Vietnam (1993, ~4 associés/20 avocats). 17 domaines dont Real Estate & Construction, FDI & corporate, M&A, IP, banking/capital markets, employment, fiscalité. Sert investisseurs étrangers (référencé pour l'assistance juridique par l'ambassade US).
Ho Chi Minh City + Hanoi · EN, VN
Frequently asked questions
Do you need a license in Vietnam to buy property?
No — as an individual foreign buyer you do not need any licence yourself. Only the developer, or the entity selling you the unit, must hold a valid business licence and project approval before it can legally market and sell to you. Your own role is limited to verifying that licence, not obtaining one.
How do I check if a developer's licence is genuine?
Ask for the licence number and the exact legal entity it was issued to, in writing, then have your lawyer confirm it independently with the relevant provincial authority rather than relying only on documents the sales office provides. A short verification engagement is usually enough before a reservation deposit.
What happens if a developer doesn't hold a valid licence?
A project sold without proper licensing carries real legal risk — your purchase may be difficult to enforce, the project itself may not be authorised to sell units to foreign buyers at all, and any deposit you have paid could be hard to recover. This is precisely why verification happens before payment, not after.
Is a developer's licence the same as the Pink Book?
No. The licence confirms the developer is authorised to sell the project; the Pink Book is the ownership certificate you receive later, once you have paid and registered your own unit — carrying a standard 0.5% registration fee at that stage. The two documents sit at opposite ends of your purchase timeline.
Does a valid licence guarantee a foreign-ownership slot is available?
No. It confirms the project may legally be sold, not that the 30% foreign quota per building still has room — quota availability changes as units sell and must be checked separately, ideally in writing, at the time you make an offer.
Who pays to verify the developer's licence?
The licence itself costs the developer to obtain, not you. As a buyer, you only pay your own lawyer's fee for independently verifying it, which is typically bundled into a broader project due-diligence engagement before you commit to a deposit.
How long does verification of a developer's licence take?
Usually three to seven working days once your lawyer has the licence reference and the exact project name, though a preliminary check can often be done faster if the developer is well established and already known to Hanoi law firms.
Sources
- Law on Real Estate Business 2023 (29/2023/QH15) — governs developer licensing and the sale of residential projects.
- Housing Law 2023 (27/2023/QH15) — foreign-ownership eligibility and the 30% per-building quota.
- Land Law 2024 (31/2024/QH15) — land-use rights underlying any licensed project.
- Decree 96/2024/ND-CP — detailed implementing regulations for the Law on Real Estate Business.
- Decree 95/2024/ND-CP — implementing regulations for the Housing Law (cited by reference; no official English URL currently verified).
- Ministry of Construction (Bộ Xây dựng) — ministry overseeing developer licensing and project approvals.
Have a developer's licence checked before you pay
Our Hanoi desk verifies developer licences, project approvals and the foreign-ownership quota before you sign a reservation or deposit — an independent second opinion within 24 hours.