Is the investor of a commercial housing construction project required to be a business?
In the field of real estate, commercial projects are understood as commercial housing projects, this project is invested and built for sale, lease, or lease purchase according to market mechanisms.
Conditions for being an investor in a commercial housing construction project are specified in Article 21 Housing Law 2014 (amended by point a, clause 1, Article 75 Investment Law 2020) as follows:
Conditions for being an investor in a commercial housing construction project
1. Enterprises and cooperatives are established and operate in accordance with Vietnamese law.
2. Have deposit capital or bank guarantee on deposit obligations to perform for each project according to the provisions of investment law.
3. Have the function of real estate business according to the provisions of law.
Accordingly, one of the conditions to become an investor in a commercial housing construction project is that the investor must be an enterprise or cooperative established and operating in accordance with Vietnamese law.
Thus, it can be seen that the investor of a commercial housing construction project can be a cooperative, not necessarily an enterprise.