Foreign entrepreneurs who want to move to Vietnam can apply for investor visas. The country does not have a citizenship by investment program, however, through the investment residence permit, obtaining a Vietnamese passport becomes available through naturalization. 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.
| Quick Facts | |
|---|---|
| Existence of citizenship by investment program (YES/NO) | No, there is no special program to enable Vietnamese citizenship by investment. |
|
Existence of investor visa (YES/NO) |
Yes, foreigners can apply for investor visas. |
|
Business investment option (YES/NO) |
Yes, business investment can be used to obtain citizenship by naturalization in Vietnam. |
| Real estate investment option (YES/NO) | No |
| Other investment options (if available) |
No |
| Living requirement in Vietnam (YES/NO) |
No, there is no need to live in Vietnam under the business investment visa. |
| Residence or direct citizenship option |
Residency by investment can be obtained through the investor visa. |
| Direct immigration with family members (YES/NO) |
The main applicant can sponsor family members to move with them to Vietnam. |
| Family members allowed to join the program |
Spouse and children under the age of 18 |
| Additional financial requirements for family members (YES/NO) | None apart from the sponsorship condition. |
| Timeframe for obtaining citizenship |
After 5 years of permanent residency |
| Dual citizenship permitted (YES/NO) |
Yes |
| Reasons to choose Vietnam |
– fast-growing economy, – multiple business opportunities, – large expat communities, etc. |
| Personal income tax rate |
5% to 35% depending on the annual income |
| Visa free travel to other countries (approx. number of countries) | Approx. 50 countries |
Table of Contents
What is the Vietnamese investor visa?
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.
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 was amended through the Investor Law No. 51/2019/QH14 which provides for several types of visas available for those committing to participate in the country’s economy with financial contributions.
In order to move to Vietnam and obtain residency 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.
Immigration to Vietnam can occur under a number of reasons. Among them, business and employment are some of the most important routes to relocate to this country. If you need guidance in applying for a residence visa, do not hesitate to get in touch with our lawyers who are at your service with tailored solutions.
We also offer support if you want to renew your residence permit in Vietnam. Our local specialists can help you prepare and file the documents that enable you to remain in the country for the desired period of time. Feel free to contact and check the validity of your visa in order to know when to prepare for renewal.
Today, there are many accountants in Vietnam to offer the majority of services a company could need. Our specialists work remotely to deliver the best solutions at fair prices without the service quality to suffer. If you want to start your own business, we can also assist you with company formation services in Vietnam.
Options for Vietnamese residency by investment that can lead to citizenship
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 the investor residence permit in 2024, you can obtain more information on the differences between the 4 visas from our local lawyers.
The possibilities to obtain Vietnamese investment visas
Currently there are 2 ways of applying for investor visas for Vietnam:
- the first one is available for foreigners who are already in the country at the time of the application;
- the second one is for first-time investors seeking to apply from outside Vietnam.
Both procedures imply similar steps, however, it must be noted that in the first case, the applicant must have a business in Vietnam at the time of the candidacy.
Our law firm in Vietnam is at the service of all types of entrepreneurs interested in citizenship based on residency by investment.
How to obtain an investor visa for Vietnam
Foreign applicants seeking to obtain Vietnamese citizenship in 2024 through the investor visa should know that the DT1 and DT2 visas come with the lengthiest available out of the 4 types.
The procedure for 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 after securing residency by investment first, you can get in touch with our local specialists with confidence to find the most suitable option.
Documents to submit in order to obtain Vietnamese citizenship
One of the most important aspects to consider when seeking to relocate to Vietnam to obtain citizenship 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.
Applying for the investor visa as a Vietnamese resident
In order to prolong your stay in Vietnam as a businessperson, you can apply for an investment visa. For this purpose, you must get ready the following documents that attest to your status:
- certified copies of the documents attesting to your business endeavors (company Certificate of Registration or Investment Certificate);
- a valid residence permit;
- the personal information of the company representative who must be a Vietnamese resident.
Depending on where your company is incorporated, you must file the required documentation to the Immigration Department in Hanoi, Da Nang, or Ho Chi Minh City.
Through this procedure, the Vietnamese investors visa is issued in approximately 5 working days.
Applying for an investor visa from outside Vietnam
Before requesting a Vietnam investor visa from a foreign state, you must first get your Visa Approval Letter. To obtain this type of residence permit, you need to file the documents listed above. The second option is to file the same documents and collect the visa on arrival.
No matter the way you decide to apply for the business visa, you can rely on our Vietnamese lawyers for support. We can act as your representatives with the local authorities. The timeframe to obtain the visa this way is also 5 to 7 working days.
Business visa vs. residency 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 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 in 2024?
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.
Exemptions from the investor visa requirements
Not all foreign investors must apply for visas when entering Vietnam for business purposes. The government may decide to waive the requirement for a visa for visitors entering through free economic zones.
In this sense, the applicant must choose a coastal area that meets the following requirements:
- it has international airport and is located in a distinct area (with boundaries and separation from the mainland);
- it meets the socio-economic development policy;
- it does not jeopardize social order, safety, or national security.
Among the most appreciated free zones in Vietnam are Vietnam-Singapore Industrial Park (VSIP), Hiep Phuoc Industrial Park in Ho Chi Min, Dinh Vu – Cat Hai Economic Zone, and Hoa Khanh Industrial Zone( HKIZ).
Vietnam offers a variety of incentives to entice both domestic and foreign investment, based on a number of factors, including the regional profile.
Tax incentives, which may include exemptions or reductions of corporate income tax, value-added tax, and import tariffs for specific time periods, are offered based on the business lines and location of the foreign invested enterprise.
If you are interested in this option, you can get in touch with our lawyers who can advise on the best course of action. Please note that starting a free zone business does not enter the investor visa program in Vietnam.
Why move to Vietnam?
As a new expat in Vietnam, you will definitely want to reside close to the country’s two largest cities: Ho Chi Minh City (formerly known as Saigon; population: 9 million) in the South and Hanoi (population: 5 million) in the North. With lots of availability of food, recreation, entertainment, transportation, and other necessities, life in the big cities is certainly quite comparable to that of large Western cities. For expats seeking a more sedate lifestyle, Da Nang and Nha Trang are popular destinations. It could take some time for expats to adjust to life in Vietnam because of how noisy it is there.
If you decide to relocate to Vietnam and apply for citizenship 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.
Foreign investments in Vietnam
The amount of newly registered and adjusted capital from foreign investors to purchase shares and contributed capital reached roughly 20.21 billion USD as of September 20, 2023, an increase of 7.7% over the previous year. A rise of 2.2% over the same period in 2022 was seen in the estimated capital generated by Foreign Direct Investment projects, which came to 15.91 billion USD. As of September 20, 2023, there are 38,379 legitimate projects in the nation with a total registered capital of USD 455.06 billion. Nearly 289.9 billion USD in realized capital from foreign investment projects made up 63.7% of all legally permitted investment capital.
If you are interested in applying for Vietnamese citizenship in 2024, 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.