Vietnam is planning to introduce a “Golden Visa” program that will allow foreigners to obtain the right to long-term residence in the country. Find out why the country made this decision, what visa is offered and how it differs from existing programs

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The Vietnam Tourism Advisory Council has proposed to the country's leadership to introduce a "golden visa" program that will allow foreigners to obtain the right to long-term residence in the country for a period of 5-10 years. This initiative is aimed at increasing Vietnam's competitiveness compared to other tourist destinations in the region. We will tell you about the prospects for launching the Vietnamese golden visa in this article.

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Why did Vietnam decide to introduce the Golden Visa program?

The Vietnam Council has submitted its proposal to launch the Golden Visa program to Prime Minister Pham Minh Chinh, warning that Vietnam's tourism sector may lag behind Thailand and Malaysia, even despite a significant recovery in tourist flows after the pandemic, as both neighboring countries already offer long-term visas for foreigners and are actively promoting similar programs.

What will the Vietnamese golden visa be like?

The Vietnam Council’s proposal includes three visa options:

- A 10-year Golden Visa.

- A 10-year Investor Visa, which can lead to permanent residency after five years, provided the investment is maintained.

- A 5-year “Talent Visa” with a simpler renewal procedure.

The Council proposes to pilot these programs in the country’s tourist hubs, such as Phu Quoc, Ho Chi Minh City, Hanoi and Da Nang.

Difference between the Golden Visa and the current DT Visa (DT1-DT4)

This “Golden Visa” will be different from the current investment visa system in Vietnam. The current DT visa (DT1-DT4) requires capital investments that can range from US$120,000 to US$4 million, depending on the type of visa, which is granted for one year or five years.

Unlike “Golden Visas”, which allow passive investment, DT visas require active participation in a business.

While VnExpress did not specify the exact investment requirements for the proposed “golden visa,” the initiative aims to create a more affordable path for long-term stays compared to the existing DT visa system.

How do foreigners currently obtain a residence permit in Vietnam?

Currently, the path to permanent residency in Vietnam requires three years of residence, after which one can apply for naturalization if the applicant is fluent in Vietnamese and renounces other citizenship.

Prime Minister Chinh called on ministries to expand visa policies to support tourism development and position Vietnam as an attractive tourist destination. This proposal is in line with the Vietnamese government’s goals of attracting more foreign nationals and tourists, and also contributes to the country’s economic growth.

Get advice from a migration lawyer to explore the possibilities of obtaining a residence permit in Vietnam, as well as the prospects of obtaining a “Golden Visa.”

Reminder! Vietnam is developing as a medical tourism hub and attracts more and more foreigners every year for treatment. We have already talked about the popular medical services in Vietnam, as well as the advantages and disadvantages of treatment in the country.

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