Regulations on types of documents for foreign investors in Vietnam. Regulations on Work permits, Visa and Temporary residence cards for foreign investors. Let us learn about this topic with LSX law firm as follow:
LEGAL GROUNDS
Labor Code 2019
Decree 152/2020/ND-CP
Law on Entry, Exit, Transit and Residence of Foreigners 2014
Regulations on Work permits and Work permits exemption for foreign investors in Vietnam
Foreign investors in Vietnam can issuance of Work Permits or Certificate that do not need Work Permits; depending on the value of the investor’s capital contribution to the project.
Specifically, foreign workers working in Vietnam who are foreign nationals must meet a number of conditions; specified in the Labor Code 2019; including regulations on the issuance of work permits.
According to Article 151 of the Labor Code 2019, the following subjects must meet the following conditions; including foreign investors:
Firstly, 18 years or older and have full civil act capacity;
Secondly, having professional qualifications, techniques, skills, and working experience; be healthy as prescribed by the Minister of Health;
Moreover, not being a person who is currently serving a sentence or has not yet had his/her criminal record cleared; or being examined for penal liability in accordance with foreign or Vietnamese laws;
In addition, have a work permit issued by a competent Vietnamese state agency; except for cases not subject to the issuance of a work permit.
Thus, foreigners working in Vietnam who are not exempt from work permits are required to be granted work permits. The investor is a foreign individual; or representing the investor being a foreign organization meets the conditions specified in Article 154 of the Labor Code 2019; guided by Section 2 Chapter II, Decree 152/ 2020/ND-CP is not eligible for a work permit, specifically as follows:
– Being the owner or capital contributor of a limited liability company with a capital contribution value of 3 billion VND or more.
– Being the Chairman of the Board of Directors or a member of the Board of Directors of a joint-stock company with a capital contribution value of 3 billion VND or more.
Regulations on Visa, Temporary residence card for foreign investors in Vietnam
The Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam 2014, amended and supplemented in 2019, stipulates 04 types of visas for foreign investors, specifically as follows:
- ĐT1 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with a contributed capital of VND 100 billion or more; or investing in investment-preferred industries or trades, localities The investment incentive table; decided by the Government. This visa is valid for a maximum of 5 years.
- ĐT2 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with a contributed capital of between VND 50 billion and under VND 100 billion; or invest in industries and trades that encourage development investment decided by the Government. This visa is valid for a maximum of 5 years.
- ĐT3 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with contributed capital from 03 billion VND to less than 50 billion VND. This visa is valid for a maximum of 3 years.
- ĐT4 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with a contributed capital of less than VND 03 billion. This visa is valid for a maximum of 1 year.
In particular, investors entering Vietnam with a DT1, DT2, DT3 visa is in the case of being granted temporary residence cards for foreigners with an equivalent term.
Thus, for investors with a capital contribution value of less than VND 03 billion, the investor must apply for a Work Permit; and be granted a DT4 visa with a term of no more than 12 months. This visa is not eligible to be changed to a temporary residence card.
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Related questions
According to the law, foreigners, depending on each case, can apply for a Vietnam visa at one of the following agencies in Vietnam:
Administration of Immigration.
Immigration management office of provincial and city police.
According to Vietnamese law, the following agencies shall extend visas for foreigners:
Firstly, the administration of Immigration.
Secondly, the Immigration management office of provincial and city police.
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