Temporary residence card validity for investors: Things to know

Temporary residence card validity for investors is an important factor to keep in mind when residing and investing in Vietnam. Temporary residence cards not only replace visas but also regulate the length of stay of foreigners, depending on the type of card and the purpose of stay. The article below will provide detailed information about regulations related to temporary residence cards, duration, and cases of temporary residence card extension for investors in Vietnam.

Cases where temporary residence cards are granted to investors

Temporary residence cards for investors in Vietnam are issued to subjects regulated by Vietnamese law, with the purpose of legal residence for a long time.

According to the provisions of Clause 1, Article 36 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014, amended and supplemented 2023, cases of granting temporary residence cards to investors include:

• Foreigners who are members of diplomatic missions, consular offices, representative offices of international organizations under the United Nations, intergovernmental organizations in Vietnam, along with their spouses, children under 18 years old and housekeepers on assignment.
• Foreigners enter Vietnam with visas with symbols: LV1, LV2, LS, DT1, DT2, DT3, NN1, NN2, DH, PV1, LD1, LD2, TT.

Regulations on temporary residence card validity for investors

Temporary residence cards for investors in Vietnam have a clearly defined duration depending on the type of card and purpose of residence. Specifically, according to Article 38 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014, amended and supplemented in 2023, regulations on temporary residence card validity.

• The validity of the temporary residence card issued will be at least 30 days shorter than the remaining validity of the passport.
• The temporary residence card with the symbol DT1 is valid for no more than 10 years.
• Temporary residence cards with symbols NG3, LV1, LV2, LS, DT2 and DH are valid for no more than 5 years.
• Temporary residence cards with symbols NN1, NN2, DT3, TT are valid for no more than 3 years.
• Temporary residence cards with symbols LD1, LD2 and PV1 are valid for no more than 2 years.
• When the temporary residence card expires, a new card will be considered.

Therefore, investors should note:

• Temporary residence card validity cannot exceed the remaining period of the passport, unless there are specific agreements between the card-issuing agency and the investor.
• Temporary residence cards can be issued for a shorter period, if the investment project or residence purpose has a short practical duration.
• It is necessary to monitor the temporary residence card validity to ensure that it does not violate regulations on residence in Vietnam.

Is it possible to extend the temporary residence card? When will it be renewed?

Temporary residence cards for investors can be extended if the investor continues to meet legal requirements and has a need for long-term residence in Vietnam. The extension period depends on the purpose of residence and the status of the investor’s investment project.

Customers need to submit an application for renewal at least 30 days before the card expires.

• Temporary residence card extension can be done when the investor continues investment activities or has other legal reasons for residing in Vietnam.
• The extension process requires careful preparation of documents to prove that investment activities continue.
• If the temporary residence card expires and cannot be renewed in time, the investor will have to apply for a new card according to the original temporary residence card issuance process.

Notes about temporary residence cards that investors need to know

Investors need to note some important points when owning a temporary residence card in Vietnam. Specifically:

• Update information when there is a change: If there is a change in residential address or investment activities, investors need to notify the card-issuing agency to update the information.
• Renewal period: Temporary residence card can be renewed, but the investor must carry out the renewal procedure at least 30 days before the card expires.
• Violation of residence regulations: If the investor violates residence regulations or does not renew the temporary residence card promptly, the temporary residence card may be revoked.
• Compliance with legal regulations: Investors need to ensure full compliance with legal regulations on residence and investment in Vietnam to avoid risks.
• Legal value: Temporary residence card is legally valid throughout the investor’s legal residence period in Vietnam, and needs to be renewed or reissued upon expiration.
• Legal support: Investors can seek legal advice from experts to ensure proper compliance with the process of granting and renewing temporary residence cards.

Frequently Asked Questions

What documents are needed for the initial application and renewal of an investor’s temporary residence card?

Required documents include a passport, investment certificate, proof of investment capital, application form, and photos, with specific requirements varying by visa type.

What is the typical processing time for a temporary residence card application?

Processing times vary, but typically range from 5 to 10 working days for complete applications, though complex cases may take longer.

What are the key distinctions between DT1, DT2, and DT3 temporary residence cards?

DT1 cards are for large-scale investors, DT2 for medium-sized investors, and DT3 for smaller investors, with each category having different investment requirements and durations.

Which authorities are responsible for issuing temporary residence cards to investors?

The Vietnam Immigration Department and Provincial/City Immigration Offices are the primary authorities that issue temporary residence cards.

What actions should an investor take if their temporary residence card application is denied?

Investors can appeal the decision with additional supporting documents or reapply after addressing the reasons for denial.

Advise investors on detailed temporary residence card regulations

With a team of consultants with many years of experience at Long Phan, we support customers with regulations on deadlines and procedures for granting temporary residence cards to investors, as follows:

• Consulting on regulations on conditions and procedures for granting temporary residence cards.
• Assist customers in preparing registration documents.
• Representing customers to submit documents to competent authorities
• Support procedures for extending and reissuing temporary residence cards in case of necessity.
• Support customers to resolve disputes.

Temporary residence card validity for investors in Vietnam is an indispensable factor to maintain legal residence status. A clear understanding of the regulations for granting and extending temporary residence cards will help investors avoid risks during the investment process. Customers can contact Long Phan via the hotline 0906735386 for detailed advice and comprehensive legal support.