Vietnam is one of the most prolific economic in Southeast Asia and as such, it welcomes a great number of foreign investors every year. Attracted by the great locations, many of them decide to remain here, however, the legislation here imposed more stringent regulations compared to Western countries, for example.
Those who want to come as investors can now enjoy a new law under which they can immigrate to Vietnam through a citizenship by investment program. Also known as an investor visa, this type of residence permit comes with many advantages that are explained below our lawyers in Vietnam. You can also rely on our support in applying for it.
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What is the Vietnamese investor visa?
Foreign citizens who want to relocate permanently to Vietnam have several options, among which investment is quite appealing thanks to the long-term residence permits they can obtain. The investor visa is a program governed by Law No. 47/2014/ which amended through the Investor Law No. 51/2019/QH14 which provides for several types of visas available for those committing to participate to the country’s economy with financial contributions.
In order to move to Vietnam and obtain citizenship by investment, a foreigner has multiple options. We can also assist if you want to apply for citizenship in Vietnam through ordinary residence.
Our law firm in Vietnam can offer more information on the recent Investor Law. If you want to immigrate to Vietnam through a different path, you can rely on us.
Citizenship by investment can also be obtained by first applying for a business visa in Vietnam.
Options for Vietnamese citizenship by investment
Also known as the DT investor visa, this type of residence permit can be acquired in several ways, among which:
- the DT1 visa which implies an investment of at least 100 billion VND (approx. 4.3 million USD);
- the DT2 visa which implies investing between 50 and 100 billion VND (between 2.15 – 4.3 million USD) or in projects approved by the government;
- the DT3 visa which can be obtained by those who can invest between 3 and 50 billion VND (between 132,000 – 2.3 million USD);
- the DT4 visa which can be obtained by investor who can contribute with less than 3 billion VND (approx. 132,000 USD) in various projects.
The main difference between the 4 types of visas is their validity. Also, the visa can be obtained by a foreign investor directly, or by a representative of a foreign company.
If you want to move to Vietnam through citizenship by investment, you can obtain more information on the differences between the 4 visas from our local lawyers.
How to obtain an investor visa for Vietnam
Foreign applicants seeking to obtain Vietnamese citizenship by investment through the investor visa should know that the DT1 and DT2 visas come with the lengthiest available out of the 4 types.
The procedure obtaining the visa depends on whether the applicant already lives in Vietnam or is in one’s country of origin.
For those already living in Vietnam the procedure is simpler and implies preparing the necessary documents and filing them with the Immigration Department. In the case of foreign citizens, an additional step must be completed, and it refers to applying for an approval letter for the investor visa.
No matter the way you choose to immigrate to Vietnam and obtain citizenship by investment, you can get in touch with our local specialists with confidence to find the most suitable option.
Documents to submit in order to obtain citizenship by investment in Vietnam
One of the most important aspects to consider when seeking to relocate to Vietnam to obtain citizenship by investment is that the main applicant needs a local sponsor.
The sponsor can be the company to invest in for both Vietnamese residents and foreign citizens applying from their countries of origin. Then, proof of the investment must also be prepared and submitted with the help of a local agent. Our law firm in Vietnam can offer such services.
One of the most important advantages of an investor visa is that if all the documents are in order, the residence permit is issued within 5 days from the submission of the application file. We can also offer support if you want to apply for citizenship in Vietnam by marriage.
Business visa vs. residency/citizenship by investment in Vietnam
Starting a business in Vietnam can be very lucrative especially for foreign entrepreneurs. One has the possibility of applying for a Vietnamese business visa without a sponsor before deciding to settle here permanently.
By comparison, the business visa is a mid-term residence permit, as it has a maximum validity of 12 months, while a residence permit by investment can be granted for a longer period of time. In this latter case, the validity depends on the amount invested.
Another difference between a business visa and residency by investment is that the first is not subject to investment requirements. Also, it enables the holder to participate in other activities, other than owning a Vietnamese business.
The business visa without a sponsor in Vietnam
In Vietnam, the business visa without a sponsor is a great choice for entrepreneurs who:
- want to work with a local company;
- engage in business meetings or other types of activities;
- come here to sign various contracts;
- represent companies in their home countries;
Even if the maximum validity of this visa is 12 months, it should be noted that one can obtain it under the form of a multiple-entry visa.
Here is how the Vietnamese DN visa is categorized:
- as a single-entry visa valid for one month;
- as a single-entry visa with a validity of 3 months;
- as a multiple entry visa with one-month validity;
- as a multiple entry visa with 3-months validity.
It is important to note that the business visa without a letter of sponsorship can only be obtained on arrival. For applications submitted online or with a Vietnamese embassy/consulate, such a letter is required.
The business visa is also known as the DN visa. Our lawyers in Vietnam can offer more information on the activities you can complete through this type of visa.
Documents required to obtain a Vietnamese business visa
The following papers need to be prepared in order to apply for a business visa for Vietnam:
- the passport with a minimum validity of 6 months;
- 2 photographs;
- letter of sponsorship from a Vietnam-based business, where applicable.
The application for the visa can be filed online or through the Vietnamese embassy or consulate in one’s country of residence/origin. For certain nationalities, such a visa can also be obtained on arrival, case in which there will be no need for a sponsorship letter. It takes 5 to 7 days to obtain a DN visa.
It is also possible to extend a business visa, however, the procedure is different from case to case. So, if you need support in this process, do not hesitate to request the services of our law firm in Vietnam.
If you are interested in applying for citizenship by investment in Vietnam and you are first considering the business visa without a sponsor, you can get in touch with us for more information.
What is the fastest way to obtain a business visa for Vietnam?
If you are planning to travel to Vietnam and obtain a business visa without a sponsor, applying for it on arrival is the fastest way to get it. The procedure is available with all large airports in the country. If you are interested in obtaining such a visa, we kindly recommend using our services to speed up the process.
We remind foreign businessmen that it is also possible to travel and stay in Vietnam without a visa for certain nationalities. Among these, German, Italian, Japanese, Malay, and British citizens do not need to apply for DN visas if they intend to stay here for periods ranging from 14 to 30 days.
Why move to Vietnam?
If you decide to relocate to Vietnam and apply for citizenship by investment through the investor visa, you can have the following advantages:
- long-term residency for 5 years in the case of the DT1 and DT2 visas;
- the possibility of brining family members on the visa of the main applicant;
- possibility of extending the visa for up to 10 years and obtaining citizenship.
If you are interested in applying for Vietnamese citizenship by investment, you must first become a permanent resident. This is why, if you need support in immigrating here through the most advantageous type of visa, we recommend contacting our lawyers for in-depth advice, as well as for customized services.