Expanding in Vietnam using an Investor Visa

COVID-19 and Visa Update in Vietnam

As the Covid-19 pandemic wreaks havoc around the world for the second consecutive year, countries around the globe are adopting stringent measures to keep the spread in check. As of July 31, 2021, Vietnam confirmed 106,000 cases of COVID-19 and 524 deaths, while the recovery sits at 21,400. For that matter, Vietnam has imposed strict travel restrictions on those entering the country, except for diplomats, officials, foreign investors, experts, and skilled workers.

The recent developments in the restrictions and measures to prevent the spread of the disease have also led to confusion regarding the validity and relevance of different visas for foreigners wanting to enter Vietnam, or expatriates wanting to prolong their stay. 

Types of Visas in Vietnam

Following are some visas meant for foreign entrants in Vietnam in 2021:

  • Tourist Visa: NO LONGER AVAILABLE. Vietnam’s borders are shut until further notice due to the ongoing pandemic.
  • Business Visa: Business Visa is issued for entrants with business purposes only. Business Visa is categorized into DN1 visa and DN2 visa. The former is allocated to the ones coming to work with businesses in Vietnam. The latter one is for those who are making entry to promote services, establish a commercial presence, or conduct other activities according to international agreements to which Vietnam is a signatory.
    Validity: 3 to 6 months, depending on the type of visa chosen.
    Note: Validity does not exceed 12 months.
  • Investor Visa: An Investor visa is granted to foreign investors in Vietnam. It is categorized into DT1, DT2, DT3, and DT4 based on the amount of investment made.
    Validity: 1 year to 5 years, based on the type of investor visa chosen.
  • Dependent Visa: Dependent visa is granted to foreigners who are dependent spouses/under 18-year-old children of Vietnamese citizens or foreigners who already have a Vietnam Temporary Residence Card or necessary visa (ĐT1, ĐT2, ĐT3, LĐ1, LĐ2). The visa-holders can also sponsor the Dependent Visa for their family.
    Validity: Normally, 3 to 6 months.
    Note: The validity does not exceed 12 months.

Impact of Covid-19 on Visas in Vietnam

In the light of the pandemic, the government of Vietnam is also reviewing all the business visa cases that are no longer working for the parent company or do not possess a work permit in Vietnam. In addition to that, the tourist visas are also limited to the mere extension of one month that was previously subject to extension based on the requirement.

As a result, the expatriates are looking for a viable solution to prolong their stay in Vietnam. This leaves the investor visa with an advantage, as the government of Vietnam is still keeping the borders open for the investors and FDI flow.

Investor Visa: The Best Option to Stay in Vietnam

The total number of FDI projects in 2020 was 32,915, with the overall stock value accumulated at US$382 billion. This shows the investors’ confidence in the country’s economic potential for lucrative returns.

The government of Vietnam provides a Temporary Residence Card and tax incentives to the expatriates who want to invest in quality projects with the potential sustainable and greener development with high investment capital. To support such investments, the government also made changes in the investment law, especially the immigration law.

This provides the investor visa holders freedom from the rigorous covid-19 preventative measures taken by the government.

Requirements for Investor Visa Application

There are two ways you can apply for an investor visa in Vietnam: (a.) when you’re physically present in Vietnam, and (b.) from overseas. However, in any case, you’ll need a certain set of documents in order to be eligible for an investor visa application.

The following are the requirements for the application:

  • Form NA16
  • Form NA15
  • Valid and original passport
  • A certified copy of the investment registration certificate or business registration certificate
  • A certificate of seal specimen registration or a publication notice of the seal specimen information
  • Temporary residence registration form

After applying for the investor visa, the competent authorities review the application for a minimum of 5 days before issuance.

Make Your Visa Application Experience Seamless With BGA

If you don’t have the correct guidance and resources, obtaining an investment visa in Vietnam can be time-consuming, aggravating, and costly.

BGA can assist you with your investor visa application. We’ll tell you everything you need to know about your visa jurisdictional needs, and we’ll take care of the paperwork and fees for you.

On top of that, we can also keep track of your visa’s expiration date and make sure it’s still valid. BGA’s skilled advisors can assist you in lowering risks, conserving resources, and allowing you to concentrate on your business.

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Expanding in Vietnam using an Investor Visa

As the Covid-19 pandemic wreaks havoc around the world for the second consecutive year, countries around the globe are adopting stringent measures to keep the spread in check