08 Oct WEBINAR EUROCHAM | INVESTMENT IN VIETNAM: MANAGING THE REQUIRED COMPLIANCES FOR AN FOREIGN EMPLOYEE
INVESTMENT VISAS FOR INVESTORS
Investment visas are issued to foreign investors to reside in Vietnam for a certain period of time. An investor may be allowed to get investment visas temporary residence cards without a work permit.
According to the Law on entry, exit, transit and residence of foreigners in Vietnam has come into force since July 10th 2020, depending on the investment capital, there are 04 types of investment visas, time limits of the card can be from 1 to 10 years.
- VISA ĐT 1 has time limits of visa up to 10 years Issued to foreign investors investing in Vietnam and contributing capital of VND 100 billion or more or investing in business lines benefiting from investment incentives
- VISA ĐT 2 has time limits of visa up to 5 years Issued to foreign investors investing in Vietnam and contributing capital of VND 50 billion to less than VND 100 billion or investing in business lines benefiting from investment incentives treatment decided by the Government
- VISA ĐT 3 has time limits of visa up to 3 years Issued to foreign investors investing in Vietnam and contributing capital of VND 3 billion to less than VND 50 billion
- VISA ĐT 4 has time limits of visa do not exceed 12 months Issued to foreign investors investing in Vietnam and
contributing capital of less than VND 3 billion
THE REQUIRED COMPLIANCE PROCEDURES FOR EXPATS IN VIETNAM
Who are the foreign employees in Vietnam?
- Executing the labor contracts
- Working as managers, chief executive officers, experts, technicians
- Internal reassignments
- Enforcing contracts or agreements
- Working for foreign non governmental or international organizations in Vietnam
What are the required procedures foreign employees in Viet Nam shall keep in mind
- Visa for experts and investors
- Work permit
- Temporary residence card
- Personal income tax
- Compulsory insurances
- Labor contracts, Employment records and relations
- Direct investment in Vietnam
- Rights and obligation of Chief of representative offices and Legal representatives of a business entity
- Legalized and notarized translations of overseas papers Local banks accounts and remittances Manage contracts Buy, rent and purchase housing Other procedures at the local competent state agencies
Foreigners shall be complied with the local laws and regulations to avoid and prevent violations in advance, keep their good standing in optimal manners whenever they are working and doing business in Vietnam.
- Investment in Vietnam: Market entry procedures
- Investment in Vietnam: Restructuring – Acquiring and Selling a company
- Investment in Vietnam: New Laws and Regulations
- Investment in Vietnam: Managing the required compliances for a company
- Investment in Vietnam: Managing the required compliances for an foreign employee