All conditions for applying for an investment temporary residence card in detail

Conditions for applying for an investment temporary residence card is an important factor to help foreign investors legally reside and stabilize business in Vietnam. According to the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam, investors need to meet the requirements on capital contribution, type of business, and temporary residence period. Follow the article below for more details.

Cases for being granted temporary residence cards and conditions for applying for investment temporary residence cards

According to the provisions of Article 36 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014, amended by Clause 14, Article 1 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam, amended 2019, cases of being granted temporary residence cards include:

• Foreigners who are members of diplomatic missions, consular offices, representative offices of international organizations under the United Nations, intergovernmental organizations in Vietnam and their spouses, children under 18 years old, and housekeepers accompanying them on term of office. In this case, the temporary residence card is denoted NG3.
• Foreigners entering the country with visas with symbols LV1, LV2, LS, DT1, DT2, DT3, NN1, NN2, DH, PV1, LD1, LD2, TT. The temporary residence card has a symbol similar to the visa symbol.

Thus, investors entering the country with a tourist visa are eligible to be granted a temporary residence card if needed.

At the same time, based on the additional provisions in Article 4 of Circular 31/2015/TT-BCA, conditions for applying for an investment temporary residence card include the following conditions:

• Investors must meet the conditions for granting a DT visa.
• Foreign investors must go through the agency, organization or individual that invited or sponsored directly to carry out the procedures at the Immigration Management Department or the Immigration Management Department of the Police of the province or centrally run city where the inviting or sponsoring agency or organization is headquartered or where the inviting or sponsoring individual resides.

Conditions for granting DT visa

According to Point a, Clause 4, Article 10 of the Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam 2014, foreigners investing must have documents proving their investment in Vietnam according to the provisions of the Law on Investment (Investment Registration Certificate).

According to the Law on Investment 2020 and Decree 31/2021/ND-CP, to be granted an investment certificate, investors need to meet the conditions on investment form, business lines, investment capital and project location. For each form of investment, certain conditions will need to be met.

Conditions that investors need to meet often include:

1. Conditions for Investment Form

Foreign investors can choose one of the following investment forms:

• Establishing new economic organizations in Vietnam, including limited liability companies, joint stock companies, and partnerships.
• Contribute capital, buy shares, buy capital contributions in Vietnamese enterprises.
• Implement investment projects.
• Investment in the form of BCC contract (Business cooperation contract).
• Investment in the form of commercial franchising and public-private partnership (PPP).

Each form of investment has its own requirements regarding documents, registration procedures and legal conditions that investors must comply with.

2. Conditions Regarding Business Lines

Not all business sectors are open to foreign investors. According to Appendix I, Decree 31/2021/ND-CP, there are two special occupational groups:

• Group A: Industry that does not have market access for foreign investors (not allowed to invest).
• Group B: Industry with conditional access (must meet specific regulations on capital, ownership ratio, Vietnamese partners…).

In addition, some industries have specific regulations on investment conditions, such as finance – banking, telecommunications, education, real estate… Investors need to check carefully before carrying out registration procedures.

3. Conditions on Charter Capital Ownership Ratio

Foreign investors are allowed to own 100% of charter capital in enterprises in Vietnam, except for cases limited by international treaties or Vietnamese law, including:

• Industries with capital ownership restrictions according to trade agreements such as WTO, EVFTA, CPTPP…
• Public companies, securities companies, investment funds, have limits on foreign ownership.
• Enterprises have many business lines, in which one or more industries have regulations on lower foreign capital ownership.

Determining the appropriate ownership ratio helps investors avoid violating regulations on capital management and control of business operations.

4. Conditions of Project Location

The investment location must be consistent with the socio-economic development planning, industry, sector and industrial park planning. Some special projects such as industrial production, renewable energy, and high-tech parks must have an environmental impact assessment and be approved by competent authorities before implementation.

5. In some cases, investors must also comply with legal regulations and international commitments.

Procedures for granting investment temporary residence card

Pursuant to the provisions of Article 37 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014, Article 4 of Circular 31/2015/TT-BCA, Points a, b Clause 15, Article 1 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam, amended 2019, the documents and procedures for applying for an investment temporary residence card are as follows:

Documents to prepare include:

1. Written request from an agency, organization or individual to carry out invitation and sponsorship procedures (according to Form NA6 and NA8 used for agencies and organizations; and according to Form NA7 and NA8 used for individuals).
2. Application form for temporary residence card with photo;
3. Passport is still valid;
4. Visa with DT symbol or documents proving eligibility for a DT visa;

Procedures for granting temporary residence cards are as follows:

Step 1: The inviting or sponsoring agency, organization or individual directly submits the application for a temporary residence card to the foreign investor at the immigration management agency where the inviting or sponsoring agency or organization is headquartered or where the inviting or sponsoring individual resides.

Step 2: Processing documents:

Within 05 working days from the date of receiving complete documents, the Immigration Department or the Immigration Management Department of the Police of the province or centrally run city will consider granting a temporary residence card.

The duration of the temporary residence card is issued in accordance with the purpose of entry and the request of the agency, organization or individual. Temporary residence card has a validity period from 01 year to 05 years but is at least 30 days shorter than the validity of the passport.

Frequently Asked Questions

What is an investment temporary residence card and why do investors need it?

An investment temporary residence card is a document that allows foreign investors to legally reside in Vietnam for a long time, replacing a visa. It helps investors to conveniently do business and live.

What types of investments qualify for an investment temporary residence card?

Forms of investment include investment in establishing enterprises, contributing capital, purchasing shares, and investing in projects approved by the government.

What is the minimum investment capital to apply for an investment temporary residence card?

Minimum investment capital varies depending on the type of investment and Vietnamese law regulations, usually classified by code DT1, DT2, DT3.

What documents are required to apply for a temporary investment residence card?

Documents include passport, investment certificate, investment capital proof, declaration and photo.

How long is the duration of the investment temporary residence card?

The duration of the investment temporary residence card depends on the type of investment and legal regulations, usually from 1 to 10 years.

Temporary residence card application service in Long Phan

Long Phan provides temporary residence card application services for foreigners in Vietnam, supporting businesses and individuals to complete documents quickly and in accordance with the law. With a team of experienced experts, we ensure that the temporary residence card application process goes smoothly, saving time and costs.

Our services include:

• Advise on conditions and procedures for applying for a temporary residence card suitable for each subject.
• Prepare and complete documents according to legal regulations.
• Support for submitting applications at the Immigration Department or the Immigration Department of the Provincial or City Police.
• Monitor processing progress and support receiving results quickly.
• Support for extending, renewing, and reissuing temporary residence cards when there is a change in information.

Conditions for applying for an investment temporary residence card need to be met in accordance with regulations so that foreign investors can legally reside and stabilize business activities in Vietnam. Preparing complete and accurate documents helps speed up the approval process, avoiding errors and risks. Long Phan provides comprehensive consulting and support services for applying for an investment temporary residence card, ensuring a quick and convenient process. Contact the hotline 0906735386 immediately for detailed advice!