On November 25th, 2019, the National Assembly has promulgated the Law on amendments to a number of articles of law on entry, exit, transit and residence of foreigners in Vietnam, which takes effect on July 1st, 2020. According to this Law, the form and validity of a visa have some points that foreign investors should pay attention to as follows:
For foreign investors enter Vietnam that will be issued with a DT visa in one of the following types:
- DT1 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of VND 100 billion or more or investing in business lines benefitting from investment incentives, in administrative divisions benefitting from investment incentives decided by the Government – Duration: not exceed 05 years.
- DT2 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of VND 50 billion to less than VND 100 billion or investing in business lines benefitting from investment incentives treatment decided by the Government – Duration: not exceed 05 years.
- DT3 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of VND 3 billion to less than VND 50 billion – Duration: not exceed 03 years.
- DT4 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of less than VND 3 billion – Duration: not exceed 12 months.
For foreign employees coming to Vietnam to work, they will be issued one of the following 2 types of visa:
- LD1 – Issued to foreigners working in Vietnam and certified of eligibility for work permit exemption, unless otherwise specified by international agreements to which Vietnam is a signatory – Duration: not exceed 02 years.
- LD2 – Issued to foreigners working in Vietnam requiring a work permit – Duration: not exceed 02 years.
If you have any questions or require any additional information, please contact Apolat Legal – An International Law Firm in Viet Nam.
This article is for general information only and is not a substitute for legal advice.
