Company in HCMC fined 300 million for late reporting of home sales to foreigners

Quoc Loc Phat Joint Stock Company has been issued an administrative fine of 300 million VND. This penalty was imposed due to the company's delay in reporting information related to foreigners purchasing apartments. Specifically, Quoc Loc Phat failed to timely report the sale of 272 apartments across three of its projects located in the Thu Thiem New Urban Area, Ho Chi Minh City, to foreign buyers. This delay was identified as a violation of current regulations concerning information management and reporting in the real estate sector, particularly for transactions involving foreign elements. These projects are situated within the Thu Thiem New Urban Area, a key development zone in Ho Chi Minh City that attracts significant interest from both domestic and international investors. Adherence to reporting regulations is crucial for ensuring transparency and strict management of the real estate market.

Key points
* Quoc Loc Phat Company was fined 300 million VND.
* The fine was for late reporting of 272 apartment sales to foreigners.
* The apartments are located in 3 projects in Thu Thiem New Urban Area, HCMC.

Nguồn / Source: Thanh Niên - Thời sự