CONDITIONS FOR BUSINESS INVESTMENT OF GOLF COURSES

According to Decree No. 52/2020/ND-CP issued by the Government on April 27, 2020 and coming into force from June 15, 2020:

– Accordingly, the conditions for investors to build golf courses and complementary works for commercial operation of golf courses include:

(i) Standard golf course area (18 holes) must not exceed 90 ha (an average of up to 5 ha per hole); first-time golf course projects must not exceed 270 ha (54 holes).

(ii) The gross building density of the land for construction of the golf course and complementary works is implemented in accordance with the National Technical Regulation on Construction Planning issued by the Ministry of Construction.

(iii) Investors must complete the golf course construction no later than 36 months (towards 18-hole golf courses) or 48 months (towards other golf courses) from the date of the land lease decision.

(iv) Expansion of a golf course project with an approved investment policy earlier is considered only after such project has been completed, put into operation and meets the conditions specified in Articles 5 and 6 of this Decree.

(v) In case an investor proposes multiple different golf course projects within the same administrative region of a province/municipality, the next golf course project proposals of such investor are only considered when the previous golf course project approved for its investment policy has been completed and operated.

– In addition, the provision of golf services, golf practice/competition services and other related services must satisfy requirements on facilities, equipment, financial and human resources as required by laws on physical training and sports.

Best regards,