Foreigners investing in
Vietnam need to travel to Vietnam on investment purpose with the right visa
supporting their purpose to comply with the Law on Entry, Exit,
Transit, and Residence of Foreigners in Vietnam.
On November 25, 2019,
the XIV National Assembly officially passed the Law on Entry, exit, transit,
and residence of foreigners in Vietnam amended in 2019. This amendment provides
many new highlights about the immigration of foreigners.
What are visas suitable
for the investors?
Investor visa is divided
into 04 categories: DT1, DT2, DT3 and DT4. The classification is based on
invested capital and investment industry. For example, DT1 visas are issued to
foreign investors in Vietnam and representatives of foreign organizations
investing in Vietnam with a capital contribution of VND 100 billion or more or
investment in preferential industries and trades. Investment and geographical
areas eligible for investment incentives are decided by the Government.
How electronic visa can
be applied and issued?
Visas issued through
electronic transactions are electronic visas. Foreigner and the agency or
organization sponsoring for a foreigner has the right to apply for an
electronic visa. Immigration authorities shall consider, process and respond to
applicants for electronic visas at the e-visa information page within 03
working days from the date of receipt of sufficient information for electronic
visa application and visa fee.
How to change visa type
caused by change of immigration purpose?
Currently, the visa type
corresponding to purpose of immigration of foreigners in Vietnam cannot be
changed. In case a foreigner wishes to change visa purposes, he / she must exit
Vietnam and apply for a new visa supporting the new purpose making foreigners
facing challenges to manage their work, and life and associated costs and time.
However, according to the provisions of new the Law on entry, exit, transit,
and residence of foreigners in Vietnam, there are 03 cases of visa conversion
purposes: i) have proof of being an investor or representatives of foreign
organizations investing in Vietnam according to the provisions of Vietnamese
law; ii) have documents proving that the relationship being father, mother,
wife, husband, children with the applicant; iii) being invited or sponsored by
an agency or organization or working with an electronic visa, having a work
permit in Vietnam or certifying that it is not subject to a work permit as
prescribed by the Labor Code. In these cases, the foreigner would be granted a
new visa with the symbol and duration suitable to the purpose of conversion.
What are additional visa
exemption conditions in Vietnam?
Besides inheriting the
previous provisions, the Law on Entry, Exit, Transit, and Residence of Foreigners
in Vietnam amended in 2019, adding one more case visa exemption. Foreigners
entering coastal economic zones under decisions of the Government and meeting
the following conditions: having an international airport; having a separate
space; having definite geographical boundaries, separated from the mainland; in
accordance with the socio-economic development policy and without prejudice to
national defense, national security, social order and safety of Vietnam, visa
exemption is required upon entry.
What conditions qualify
foreigners for Temporary Residence Card in 2020?
The duration and type of
temporary residence cards are granted based on the contributed capital.
Accordingly, the duration of temporary residence card DT1 for foreigners
investing in Vietnam through direct investment of setting up company, obtaining
investment registration certificate, with a capital contribution of 100 billion
or more has a term of no more than 10 years. Temporary residence card with the
symbol DT2 granted to investors contributing capital from VND 50 billion to
less than VND 100 billion has a term of no more than 05 years. Temporary
residence card with the symbol DT3 for investors with contributed capital
valued from 03 to billion to less than 50 billion dong with duration not
exceeding 03 years. And investors using DT4 visas with a capital contribution
of less than 03 billion VND are not allowed to be issued temporary residence
cards in Vietnam. It is important for foreigners falling under the DT4 category
to consult with immigration lawyers in
Vietnam to receive advice
on proper advice when considering investing less then 03 billion VND.
The Law on entry, exit,
transit, and residence of foreigners in Vietnam amended in 2019, will be
effective from July 1, 2020.
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