legal regime of real estate mediation

LEGAL REGIME OF REAL ESTATE MEDIATION
The law 4/12, 4.05, defined the rules that regulate the real estate mediators and recruiters
activities.
According to the terms enacted, Real Estate Recruiter is every person who, by service contract,
develops market prospecting actions aimed at finding the desired property by the client, as well
as promotional activities and recruiting activities for real estate mediators. Real Estate Mediator
is every company or person who is intervening in real estate transactions.
Are assigned to INH the competencies of registration, inspection and supervision of the Real
Estate Mediators and Real Estate Recruiters activities, which is competent to apply the
penalties typified in the law.
This new legislation came into force on June 3, 2012 and applies:
(i) to all Real Estate Mediators and Recruiters, including all those who have started the
activity prior to the entry into force of this statute;
(ii) to all Real Estate Mediation and Recruitment contracts celebrated after the entry in force
of this statute.
The Real Estate Mediators and Recruiters who have started the activity prior to the entry into
force of this statute, are also obliged to do its application in the INH within 1 (one) year, under
penalty of compulsive closure of their establishments or the dissolution of their societies, at the
request of the Prosecutor or any interested.
Let's look at some specific aspects of Real Estate Mediation and Real Estate Recruitment
activities.
A. REAL ESTATE MEDIATION
I. Licensing
The exercise of the Real Estate Mediation activity is subject to proper licensing, the license being
granted by the INH – Instituto Nacional de Habitação (National Housing Institute)
The request is formulated in an application addressed to the General Director of INH,
accompanied by the supporting documents proving the fulfillment of the requirements described
in point II.
The licenses are valid for 3 (three) years, being revalidated for equal period.
II. Requirements
The Real Estate Mediators must accomplish with the following requirements:
(i) To have as their object the exercise of real estate mediation activity;
(ii) In the case of an individual, he must have Angolan nationality; in the case of a legal
person, it will have to adopt the form of a private limited company or of a joint stock company,
with headquarters in Angola;
(iii) To have regular situations before the tax administration and the social security;
(iv) To have professional capacity;
(v) To have a liability insurance;
(vi) To hold positive equity capital;
(vii) To have good commercial repute.
III. Exercise of the activity
The customer service can only be performed in the following circumstances:
(i) in autonomous premises, separated from any commercial or industrial establishments and
Rua homes;
Rainha Ginga, 187 – Edifício Rainha Ginga – Piso Intermédio
Luanda – República de Angola
Tel: +244 222 33 67 87 Fax: +244 222 39 06 34
(ii) in provisory posts next to the buildings
[email protected]
www.vca-angola.com
of
Largo de São Carlos, 3
1200-410 Lisboa – Portugal
Tel: +351 21 358 36 20 . Fax: +351 21 315 94 34
whose
mediation they are in charge,
[email protected]
www.abbc.pt
that these posts are exclusive for the mediation activity.
Esta newsletter contém informação de carácter genérico e não se destina a servir como consulta jurídica. Foi elaborada por advogados angolanos da
VCA com a colaboração de advogados portugueses da ABBC, no âmbito da respectiva associação. Tem por destinatários clientes e contactos de ambos
os escritórios.
provided
IV. Real Estate Mediation Contracts
These contracts will have to be written and must, mandatorily, contain the following elements:
(i) complete identification of the property which is the subject of the contract;
(ii) detailed specification of all charges, expenses or liabilities that fall on the property;
(iii) identification of the business subject to the exercise of mediation;
(iv) the remuneration conditions of the mediator;
(v) identification of the liability insurance.
In the absence of an agreement, it shall be concluded for a period of 6 (six) months.
B. Real Estate Recruitment
I. Licensing
For this activity it is required a registration in force in INH and the conclusion of a service
contract with the real estate mediator who is the license holder.
The application formulary is addressed to the General Director of INH, accompanied by the
documents proving the fulfillment of the requirements described in point II
II. Requirements
The Real Estate Recruiters must accomplish with the following requirements:
(i) To be an individual entrepreneur, holding a service contract with a qualified real estate
mediator;
(ii) To have regular situations before the tax administration and the social security;
(iii) To have professional capacity;
Rua
Ginga, 187
– Edifício
Rainha Ginga – repute.
Piso Intermédio
(iv)Rainha
To have
good
commercial
Luanda – República de Angola
Tel: +244 222 33 67 87 Fax: +244 222 39 06 34
[email protected]
www.vca-angola.com
Largo de São Carlos, 3
1200-410 Lisboa – Portugal
Tel: +351 21 358 36 20 . Fax: +351 21 315 94 34
[email protected]
www.abbc.pt
Esta newsletter contém informação de carácter genérico e não se destina a servir como consulta jurídica. Foi elaborada por advogados angolanos da
VCA com a colaboração de advogados portugueses da ABBC, no âmbito da respectiva associação. Tem por destinatários clientes e contactos de ambos
os escritórios.
III. Exercise of the activity
The firm names of the Real Estate Recruiters must contain the expression “Real Estate
Recruiter”.
In the exercise of their activity, the Real Estate Recruiters are forced to collaboration with the
Real Estate Mediators in the accomplishment of the obligations relating to the activity.
It is expressly forbidden to Real Estate Recruiters the exercise of any other commercial or
professional activity.
IV. Incompatibilities
It is also expressly forbidden to a Real Estate Recruiter:
(i) To conclude service contracts with non-qualified real estate mediators;
(ii) To be a partner, shareholder or perform duties in a real estate mediation society;
(iii) To exercise its activity through an intermediary;
(iv) To intervene as a party in real estate mediation contract in its activity scope.
Rua Rainha Ginga, 187 – Edifício Rainha Ginga – Piso Intermédio
Luanda – República de Angola
Tel: +244 222 33 67 87 Fax: +244 222 39 06 34
[email protected]
www.vca-angola.com
Largo de São Carlos, 3
1200-410 Lisboa – Portugal
Tel: +351 21 358 36 20 . Fax: +351 21 315 94 34
[email protected]
www.abbc.pt
Esta newsletter contém informação de carácter genérico e não se destina a servir como consulta jurídica. Foi elaborada por advogados angolanos da
VCA com a colaboração de advogados portugueses da ABBC, no âmbito da respectiva associação. Tem por destinatários clientes e contactos de ambos
os escritórios.