Govt to regulate building management companies

2013-11-5

From：Macau Business

The government intends to pass a law regulating building management by licensing companies in the industry and their employees, Housing Bureau director Tam Kuong Man has said.

Mr Tam’s bureau means to begin consulting the public about the legislation in the first quarter of next year.

The bureau proposed in 2008 that building management companies be divided into in three classes, and that second-class and third-class companies be restricted to managing only certain sorts of buildings.

First-class companies would have to have registered capital of over MOP3 million (US$375,000), second-class companies would have to have capital of at least MOP1 million and third-class companies would have capital of under MOP300,000.

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