Vietnam is one of the most attractive destinations in Southeast Asia for investors and expats looking for opportunities to invest and live. The country offers a stable political environment, affordable costs of living and labor, and plenty of business opportunities in various sectors like manufacturing, technology, tourism, agriculture, and more. As such, Vietnam has introduced a range of investor visas to encourage foreign direct investment and make it easy for investors and business owners to gain long-term residency.
Overview of Vietnam Investor Visa
The Vietnam investor visa, also known as the DT visa, offers temporary residence in Vietnam for a period of up to 10 years for foreign investors, business managers, and lawyers. There are four types of DT visas:
- DT1 – For investors with at least VND 20 billion capital contribution to an investment project in Vietnam. This visa is valid for 5 years.
- DT2 – For investors with at least VND 3 billion capital contribution. This visa allows a stay of 3 years.
- DT3 – For investors with at least VND 1.5 billion capital contribution. This visa is issued for 2 years.
- DT4 – For investors who make a capital contribution of at least VND 100 million. The visa validity is 1 year.
The DT visa offers a number of benefits like multiple entries, ability to sponsor family members, and eligibility to apply for permanent residence after meeting certain conditions.
How to Apply for Vietnam Investor Visa
The application process for a Vietnam investor visa includes:
- Have the required capital: Based on the type of DT visa, ensure you meet the minimum capital investment criteria.
- Prepare documents: Documents like passports, health certificates, police clearance certificates, proof of financial capacity, and investment proposal are required.
- Submit papers: The investor visa application must be submitted at the Vietnamese Diplomatic Mission in your country.
- Get approval: It takes about 15 days to get approval once the Embassy submits papers to the Immigration Department of Vietnam.
- Visa stamping: After approval, get visa stamped on your passport at the Vietnamese Diplomatic Mission.
Pros and Cons of Vietnam Investor Visa
Pros:
- Gain residency and live in Vietnam by making an active investment
- Visa validity of up to 10 years depending on investment amount
- Multiple entries allowed
- Eligibility for permanent residency after 5 years
- Special privileges like owning property and opening bank accounts
Cons:
- High investment threshold amount required
- Restriction on working unless company is registered
- Quota of only 100 DT1 visas issued per year
- Bureaucracy and paperwork involved in application process
Tips for Getting Vietnam Investor Visa
- Hire a reliable law firm to handle the application process smoothly
- Be prepared with all required documents to avoid delays
- Ensure your business/investment proposal is sound and aligned with Vietnam’s investment priorities
- Book an appointment well in advance at the Embassy before visa application dates
- Opt for the DT1 visa by investing $100,000 to gain maximum benefits
- Be patient as the approval process can take up to 6 months
FAQs on Vietnam Investor Visa
Q: How long is the Vietnam investor visa valid for?
A: The visa validity varies from 1 to 10 years depending on the type. DT1 is 5 years, DT2 is 3 years, DT3 is 2 years, and DT4 is 1 year.
Q: Can I buy property in Vietnam on an investor visa?
A: Yes, those having DT1, DT2, and DT3 visa are eligible to buy and own property in Vietnam.
Q: Can I bring my family to Vietnam on a DT visa?
A: Yes, an investor can sponsor their spouse and children below 18 years of age by providing additional documents.
Q: Do I need to live in Vietnam full-time on this visa?
A: No, investors only need to make yearly trips for 5-10 days to Vietnam to maintain residency rights.
Q: Is it easy to switch jobs on an investor visa?
A: No, changing jobs or employers is not allowed on this visa. One must continue working for the sponsoring company in Vietnam.