Vietnam start up visa

Current Vietnam start up visa

Post date: 18-01-2022

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Vietnam start up visa

I. Vietnam start up visa.

1. What is a Vietnam start up visa?

Vietnam start up visa is a type of visa granted by the Government of Vietnam to foreigners who set up or contribute capital to a company operating in Vietnam (also known as Investment Visa).

2. Types of Vietnam start up visas.

Vietnam start-up visas are currently divided into 4 types with different symbols and contents including Visa ĐT 1, ĐT2, ĐT3, ĐT4 as follows:

Visa type	Valid period	Eligible foreigners
Visa ĐT1	Up to 5 years	Foreign investors in Vietnam and representatives of foreign organizations invested in Vietnam with a contributed capital of 100 billion VND or more; OR investment in industries or professions eligible for investment incentives or geographical areas with investment incentives under guidelines of Vietnam Government.
Visa ĐT2	Up to 5 years	Foreign investors in Vietnam and representatives of foreign organizations invested in Vietnam with a contributed capital of between VND 50 billion and under VND 100 billion; OR investment in industries or professions eligible for investment incentives or geographical areas with investment incentives under guidelines of Vietnam Government
Visa ĐT3	Up to 3 years	Foreign investors in Vietnam and representatives of foreign organizations invested in Vietnam with contributed capital from 03 billion VND to less than 50 billion VND
Visa ĐT4	Up to 12 months	Foreign investors in Vietnam and representatives of foreign organizations invested in Vietnam with a contributed capital of less than VND 03 billion

3. Benefits from Vietnam startup visas

Foreigners who are granted a Vietnam start-up visawill enjoy the following specific benefits:
• Long-term stay in Vietnam according to the validity period of the visa to do business in Vietnam;
• Continue to be extended under the visa category after the visa expires;
• Eligible to get a temporary residence card for DT1, DT2 and DT3 visas. Visa DT4 is not subject to temporary residence card, but can apply for work permit to issue temporary residence card for LD2 Visa
• Can sponsor their wife/children to apply for a visa to visit in Vietnam for DT1, DT2 and DT3 visas. The case of DT4 visa can be applied after converting to LD2 visa after being granted a work permit.

4. Conditions for Vietnam startup visas

Conditions to apply for a Vietnam start up visa include:
• Foreigners have valid Passports according to regulations,
• Having documents proving that foreigners are investors, specifically:
o Business License/Investment License
o Certificate of capital contribution/shares in the enterprise; or
o another relevant document proving that the foreigner is an investment category in accordance with the law on enterprise and investment of Vietnam.
• Sponsored by company in Vietnam that foreigners participating in investment

II. Vietnam startup visa procedures.

1. Start up a business or contributing capital to a Vietnamese enterprises.

Foreigners can do directly or authorize a representative in Vietnam to carry out the procedures for start up business or contributing capital to a Vietnamese enterprise. Processing time is about 15-30 days.

2. Apply for a start-up visa in Vietnam for foreigners.

a. In case foreigners are abroad, the following procedures shall be carried out:
- The sponsoring company which foreigners contributed capital/invested in Vietnam will carry out the procedure at the Vietnam Immigration Agency for entry visa approval. Processing time is 7-10 days.
- The sponsoring company will send a scanned copy of the entry approval letter to foreigners for stamping entry visa at the Vietnam Embassy/Consulate abroad registered.

b. In case foreigners are in Vietnam, the following procedures shall be carried out:
In this case, the foreigner is in Vietnam in the form of a tourist, business, or family visit visa, the sponsoring company will carry out the procedures to convert to a startup visa at the Vietnam Immigration Agency. Processing time is about 7-10 days.

Source: Law No: 51/2019/QH14 dated November 25th, 2019 amending and supplementing a number of articles of the law on entry, exit, transit and residence of foreigners in Vietnam

Any information about Vietnam start up visa, feel free to contact with us,

LAWYER VIETNAM LAW FIRM – Vietnamese lawyers.