With economic opening policies, especially after the Covid-19 pandemic, Vietnam is an attractive destination for foreign investors. Accordingly, the number of foreign investors in Vietnam is constantly increasing. In order to create favorable conditions for individual investors with direct capital investment or representatives of foreign organizations investing in Vietnam to live, work, Vietnam has policies, suitable for each type of investor in being granted temporary residence cards in Vietnam.
Investors using visas, temporary residence cards under the
investment category sponsored by foreign investment companies and with
the temporary residence card symbol DT, are divided into three types of
temporary residence cards as follows: (i) DT1 – Issued to foreign investors in
Vietnam and representatives of foreign organizations investing in Vietnam with
a contributed capital of VND 100 billion (USD 4.5 mil) or more or investing in
industries, professions eligible for investment incentives, geographical areas
with investment incentives decided by the Government; (ii) DT2 – Issued to
foreign investors in Vietnam and representatives of foreign organizations
investing in Vietnam with a contributed capital of between VND 50 billion (USD
2.3 mil) and under VND 100 billion or investing in industries, trades to
encourage development investment decided by the Government; (iii) DT3 – Issued
to foreign investors in Vietnam and representatives of foreign organizations
investing in Vietnam with capital contribution from VND 03 billion (USD 136k)
to less than VND 50 billion. Temporary residence cards with a specific term for
investors and representatives of foreign organizations investing in Vietnam are
as follows: Temporary residence cards with symbol DT1 have a term of not more
than 10 years; Temporary residence card with symbol DT2 is valid for no more
than 05 years; Temporary residence card with symbol DT3 is valid for no more
than 03 years. In case foreign investors and representatives of foreign
organizations investing in Vietnam with a contributed capital of less than VND
03 billion, they will not be granted a temporary residence card, instead they
will apply for a signed visa DT4 which is valid for no more than 12 months.
The application file for applying for a temporary residence card
to a foreign investor must be documents proving the status of the sponsoring
agency, organization, individual; documents proving the relationship between
the investor and the sponsoring agency, organization or individual; information
of the sponsored investor; relevant document information to determine the type
of temporary residence card issued to investors; and declarations in accordance
with the law.
If foreign investors and representatives of foreign organizations
investing in Vietnam wishing to stay in Vietnam, they need to apply for a
temporary residence card according to the conditions, documents, procedures of
Vietnamese law. It is important to consult with immigration lawyers at ANT
Lawyers – Law firm in Vietnam for effective
solutions.
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