How Foreigners Could Obtain Residence in Vietnam Through Investment Scheme?

Foreigners could reside in Viet Nam under permanent residence or temporary residence status. In particular, foreign investors establishing or contributing capital to companies operating in Vietnam are subject to have temporary residence cards.

A Temporary Residence Card is the required document for the foreigners to legally stay temporarily in Viet Nam and the maximum term of a card is 05 years. The following will explain how Temporary Residence Card can be obtained in Vietnam through investment.

What are conditions for foreign investors to be granted temporary residence card?

Foreigners whom are granted a visa with a DT sign will be considered for a temporary residence card. The foreigners will need to apply for work permit exemption from authorities in Vietnam. The passport of foreigners has a minimum term of 13 months. Documents proving that foreigners contribute capital to, or invest in, enterprises in Vietnam for instance business registration certificates, investment registration certificates will be required. The foreigners will also need to provide clean criminal record card.

What required documents to be prepared for application for temporary residence card?
1. 01 Document requesting temporary residence card of guarantor ( form NA6 for agencies, organizations; form NA7 for individuals)
2. 01 Information form for a temporary resident card (form NA8)
3. 02 photos (image size 2×3 cm);
4. 01 Copy of passport and a valid visa (bring an original for comparison);
5. 01 Notice of use of the seal of the enterprise.
6. 01 Document introducing seal, signature of the authorized person of the organization (form NA16)
7. 01 Copy of legal documents of organizations to prove purpose to be granted temporary residence card, such as: investment registration certificate, business registration certificate.

How long it takes to apply for temporary residence card?

After 5 working days since receiving sufficient documents, state agencies will consider and issue temporary residence cards.

What are procedures to apply for temporary residence card?
Step 1: Prepare documents as prescribed by law.
Step 2: Submit application file
The officer receiving the application will check the legality and the content of the file. If the application is complete and valid, the officer receives the application and prints a receipt for the submitter.
Step 3: Return results

What state authorities to apply for temporary residence card?
Immigration Management Department of province or cities where the investment is registered.

Some difficulties when carrying out the procedure
Everyone can apply for a temporary residence card by themselves, but not all cases are eligible for a temporary residence card. When applying for a temporary residence card, have some difficulties like: the visa is not for right purposes; foreigners don’t understand the required documents, procedures for applying for temporary residence card so that you don’t know how to write the declaration of temporary residence card; have confusion about the declaration form used for individuals and agencies, organizations…. For result, application file is invalid and will be returned. You will have to go to implementing agencies many times to complete application file, which is costly, laborious, time-consuming but not yet available. Therefore, foreigners need the assistance of a reputable law firm to carry out the procedure effectively to be granted temporary residence card.