As most of the countries including Vietnam have still not opened their international borders due to the outbreak of novel coronavirus (COVID-19), so all those who have obtained a visa approval letter from the Immigration Department of Vietnam are required to get a visa stamped at the Vietnam embassy/consulate in their respective countries.
By now you must be aware that Vietnam has already implemented EVFTA ( Europe Vietnam Free trade agreement) that one of the reasons that its gaining more attention amongst Expat to settle & work and even before implementation of EVFTA the number of foreign skilled workers coming to Vietnam was been steadily increasing in recent years which surged to over 80,000 at the end of 2018. Most of the foreign workers that come to Vietnam are employees of foreign contractors, working for, or establishing, foreign direct investment (FDI) projects, coming from over 100 countries.
So lets understand what business visa we could apply before COVID19. They were categorized as DN1 and DN2 visa, and was granted to those entering Vietnam for business purposes, of which:
- DN1 visa – was granted to foreigners who work with other businesses and organizations with legal status in accordance with the laws of Vietnam.
- DN2 visa – was granted to foreigners who came to Vietnam to offer services, establish a commercial presence or perform other activities under international treaties to which Vietnam is a member.
A new visa type (DT1) was added for foreign investors with contributed capital over VND 1 billion (or US$ 4.35 million). With a DT1 visa, investors can apply for a temporary residence card with a duration of up to 10 years. Below are more detailed about other types of Vietnam’s Visas:
Vietnam Visa Types Information
|Visa Name||Visa Types||Description||Validity|
|Foreign workers/Working visa||2 years|
|Working with Vietnamese authorities||5 years|
|LS||Lawyer visa||5 years|
|Investor visa issued for investors with total investment capital over US$4.35 million,
or into ‘prioritized’ sectors, professions, geographical areas determined by the government.
|DT||DT2||Investor visa issued for investors with total investment capital from US$2.17 million to
U5$4.35 million, or into’encouraged’ sectors, professions, geographical areas determined
by the government.
|DT||DT3||Investor visa issued for investors with total investment capital between US$130,500
– US$2.17 million.
||Investor visa issued for investors with total investment less than US$130,500.||12 months|
|DN||Working with Vietnamese businesses||30 days|
|EV||Electronic visa||12 months|
|NN||NNI-2||Chief Representative Office in Vietnam, Head of Project Office of foreign NGO.||12 months|
|NN||NN3||NGO Staff, Representative Office||12 months|
|NG||Diplomatic visa||12 months|
|PV||Press and foreign correspondents||12months|
|TT||Dependents of holder of LV1-2, DT1-3, NN1-2, DH, PV1, LD1-2, LS||3 years|
Also, the new Immigration Law before covid19 allowed the conversion of one category visa type for another without having to leave Vietnam as required by the old regulation. The following cases are eligible for visa type change:
- Investors and representative of a foreign organization investing in Vietnam;
- Dependents of Vietnamese citizens; and
- Being invited or guaranteed by agencies or organizations, and having a work permit or work permit exemption certificate.
A new visa will be granted following a converting visa application.
HOW GPO CAN ASSIST
Hopefully, this article was helpful in your research relating to FDI in Vietnam. And we at GPO can assist you by providing market research as per your requirements. We can also assist you in recruiting a freelancer to generate revenue before setting-up office in Vietnam and if everything goes as per your expectations we can also assist with the business visa process as well as business legal advice for getting your business registered in Vietnam and then offer our core service of been your HR business partner in Managing your daily HR activities, as we are an HR business consultancy firm in Vietnam. So, please do connect with us and let us be your long-term partner in Vietnam.