Global Journal of Management and Business Research, B: Economics and Commerce, Volume 23 Issue 3

special incentives comply with the provisions of the Law on Corporate Income Tax and the law on land. Special investment support is provided in the forms specified in Clause 1, Article 18 of the Law on Investment 2020. The above special investment incentives and support policies do not apply to the following cases: + An investment project that has been granted an investment certificate, an investment registration certificate or an investment policy decision before the effective date of this Law; + Investment projects specified in Clause 5, Article 15 of the Law on Investment 2020. In cases where it is necessary to encourage the development of a particularly important investment project or a special administrative-economic unit, the Government shall submit it to the National Assembly for decision on the application of investment incentives other than those specified in Clause 1 of this Article. stipulated in the Investment Law 2020 and other laws. In addition, general regulations on conditional business lines: A conditional business line is a business line in which the implementation of business investment activities in that industry or business line must satisfy the following requirements: conditions prescribed by law. For reasons of national defense, security, social order and safety, social ethics, and health of the community, which are set and monitored by relevant regulatory authorities. A detailed list of conditional business lines in accordance with the law is prescribed in the Law on Investment 2020. Business conditions for the above-mentioned industries and trades are specified in relevant laws, ordinances, decrees and other legal documents. At the same time, it is stipulated in international treaties to which the Socialist Republic of Vietnam is a signatory. Ministries, ministerial-level agencies, People's Councils, People's Committees at all levels, other agencies, organizations and individuals may not issue regulations on business investment conditions. Business conditions must be set out and regulated in accordance with operational objectives, in accordance with the context of the market economy and the country's circumstances in each development stage. All regulations on business conditions must ensure publicity, transparency, objectivity and fairness for investors. The regulation of business conditions also needs to advocate the spirit of saving implementation time, saving costs and requiring compliance and coordination of investors. Avoid regulations that cause difficulties, barriers, and make it difficult for investors to conduct business in the context of Vietnam's current market opening and development. Thus, from a general point of view, real estate business is the investment of capital to carry out construction, purchase, and transfer activities for sale or transfer; lease, sublease, lease purchase of real estate; real estate brokerage services; real estate trading floor services; Real estate consulting services or real estate management for profit purposes. This content has been detailed in the Law on Real Estate Business 2014. Thus, based on this regulation, the real estate business will include 2 basic forms: + Organizations and individuals doing real estate business with the object of business being real estate goods; + Business real estate services with business objects are real estate brokerage services, real estate consulting services, real estate management services. Currently, according to the Investment Law 2020, real estate service business does not have legal capital requirements but needs to meet the conditions for establishing an enterprise and the conditions for personnel and facilities. Not only domestic organizations and individuals, but also Vietnamese residing abroad, foreign organizations and individuals have the right to conduct business in real estate brokerage services, [2] real estate trading floors, real estate consulting, and management. real estate management. However, foreign companies that do not have a commercial presence in Vietnam are not allowed to provide cross- border real estate services but are required to set up businesses in Vietnam. However, there will be a list of industries and trades with restrictions on market access for foreign investors (investors) specified in Article 9 of the Law on Investment in 2020, basically, foreign investors are allowed to apply the following conditions: market access as regulated for domestic investors. However, in cases where, based on laws and resolutions of the National Assembly, ordinances and resolutions of the National Assembly Standing Committee, Decrees of the Government and international treaties to which the Socialist Republic of Vietnam is a signatory, Members, the Government shall announce the list of industries and occupations restricted from market access for foreign investors, including: Sectors and trades that have not yet had access to the market; − Sectors and trades with conditional market access. Therefore, in the near future, the Government will issue a list of industries and professions with restricted market access for foreign investors to apply when the Investment Law 2020 takes effect. In addition, before establishing an economic organization, foreign investors must have an investment project, carry out procedures for granting and adjusting the Investment Registration Certificate; [3] except for the case of setting up creative start-up small and medium-sized enterprises and innovative start-up investment funds in accordance Real Estate Business of Foreign Investors under Vietnam Law © 2023 Global Journals 28 Global Journal of Management and Business Research Volume XXIII Issue III Version I Year 2023 ( ) B