How to Invest, Do Business and Reside in Vietnam in 2022?

  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 law firm in Ho Chi Minh City, or in Hanoi, Da nang for effective solutions.

Source: https://antlawyers.vn/library/how-to-invest-do-business-and-reside-in-vietnam-in-2022.html

How to Invest, Do Business and Reside in Vietnam in 2022?

  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 law firm in Ho Chi Minh City, or in Hanoi, Da nang for effective solutions.

Source: https://antlawyers.vn/library/how-to-invest-do-business-and-reside-in-vietnam-in-2022.html

How Long Are Immigration Restrictions Applied?

 Suspension of exit means a decision of competent authority  in Vietnam to suspend a Vietnamese or a foreigner residing in Vietnam from leaving Vietnam for a certain period of time.  In most cases, the person whom is subject to suspension of exit should be informed in advanced by the competent authority.  Immigration lawyers in Vietnam could also assist the person subject to suspension of exit to work with authorities for clarification and understanding for better preparation or resolving the situation on immigration restriction based on specific case below explained.

For foreigner, according to Law on Entry, Exit, Transit and Residence of foreigners in Vietnam, a foreigner may be suspended from exit if he/she is currently the suspect, the accused, or the person with relevant obligations in a criminal case; a defendant or a person with relevant obligations in a civil case pertaining to business, employment, administration, marriage and familial affairs or has to implement a judgment or decision of the Court or a Competition Settlement Council. Foreigners may also be temporarily suspended from exit if his/her tax obligation is not fulfilled or he/she is obliged to implement a decision on penalties for administrative violations; or be temporarily suspended from exit for reasons of national defense and security.

The persons belonging to above cases may still be allowed to exit if the person serving a prison sentence is escorted abroad to provide evidence in accordance with the Law on Judicial assistance. The time limit for temporary suspension of exit for a foreigner residing in Vietnam is not more than 03 years and can be extended.

For Vietnamese citizens, cases of suspension of exit include:

• Suspects and defendants; persons who are accused or filed for charge, later proved that they may have committed crimes thus must be prevented from escaping or destroying evidence as specified in Code of Criminal Procedure.
• Persons subject to delayed imprisonment, persons suspended from imprisonment, persons on parole during probation period, persons subject to suspended sentence during probation period, persons executing community services during sentence enforcement period according to Law on Execution of Criminal Judgment.
• Persons having obligations according to regulations and law on civil procedure if their obligations to government, agencies, organizations and individuals are proved to be involved in proceeding and their exit are proved to influence the proceeding, interests of government, legal rights and interests of agencies, organizations and individuals; persons subject to judgment execution.
• Civil judgement debtors and legal representatives of agencies and organizations obliged to execute judgment and decisions according to regulations and law on enforvement of civil judgment in Vietnam if their exit is proved to influence interests of government, legal rights and interests of agencies, organizations and individuals; persons subject to judgment execution.
• Tax payers, legal representatives of enterprises subject to enforcement of implementation of administrative decision on tax administration, Vietnamese making exit to reside overseas and Vietnamese residing overseas that have not satisfied tax liabilities according to regulations and law on tax administration before making exit.
• Persons subject to enforcement and representatives of organizations subject to enforcement of implementation of decision on administrative sanctions and to be prevented from escaping.
• Persons subject to inspection and verification, proved to have committed particularly serious violations and to be prevented from escaping.
• Persons contracted from dangerous and infectious diseases and to be prevented from spreading the diseases throughout community unless allowed by foreign parties for entry.
• Persons whose exit is identified by competent authorities to infringe national defense and security.

How immigration lawyers in Vietnam could help?

The duration of suspension of exit for Vietnamese citizens depends on each specific case, according to the provisions of the Criminal Procedure Code, the decision of the Minister of National Defense and the Ministry of Public Security. When the suspension period expires and is not extended further, Vietnamese citizens and foreigners can continue to leave the country when they wish. Or when the matters get complicated, the subject person could seek help from lawyers in Vietnam for advisory or represetation at Immigration Department Authority in Vietnam.

Source: https://antlawyers.vn/library/how-long-are-immigration-restrictions-applied.html

Temporary Residence Card in Vietnam

  If a foreigner have been sponsored work permit in Vietnam to work or he/she decides to set up a company in Vietnam, he/she could be granted temporary residence card to live in Vietnam instead of applying and re-newing business or travel visas every three months.

We detail here some procedures which help foreigners to prepare for before applying for temporary residence card.

I. Subjects to be granted temporary residence card:

• Members of foreign representative agencies and their accompanying relatives (father, mother, wife, husband, children under 18 years old).

• Foreigners who work with the Institute of the Supreme People's Procuracy, the Supreme People's Court, the ministries, ministerial-level agencies, agencies attached to the Government and People's Committees of provinces and cities directly under the Central Government and the Central offices of mass organizations, mass organizations.

•Foreigners who work in projects already approved by competent state agencies licensed in Vietnam.

• Foreigners who work with businesses in Vietnam has the work permit valued more than 01 year.

• Persons on the payroll of foreign representative offices and branches of economic organization, culture and other professional organizations of foreign non-governmental organizations based in Vietnam.

• Foreigners staying in Vietnam for other purposes.

II. Conditions for implementation

+ Time to stay in Vietnam more than 01 year;

+ Valid passport more than 01 year;

III. The composition, the number of records:

1) The composition profile, including:

• A written request of agencies, organizations and individuals offering, guarantee and propose for temporary residence card;

• 01 declaration of information of foreigners who apply for temporary residence, with photos and sealed by the agency or organization: A written request for temporary residence card (Form N7A); a declaration about Foreigners applying for temporary resident card (Form N7B)

• 02 3 x4 cm size photographs;

• 01 copies of passport, valid visa, immigration cards (bring original for comparison);

• 01 copies or photo (bring the original for comparison) proof of purpose to stay in Vietnam.

As the case may file appropriate documents: investment licenses, permits the establishment of enterprises, work permit in Vietnam, certificate of board members and permits the establishment of representative offices, marriage/birth registration.

2) The number of records: 01 (one).

IV. Implementing agencies administrative procedures:

Immigration management Department, Police provinces and cities directly under the Central Government.

V. Implementation time: 05 to 07 days;

VI. Subjects performed:  by organizations and individuals;