NEW REGULATIONS ON TEMPORARY RESIDENT CARD FOR FOREIGN INVESTORS IN 2020

Temporary resident card is an important document issued by an immigration authority or a competent authority of the Ministry of Foreign Affairs to a foreigner legally residing in Vietnam for a limited period of time.

Temporary resident card for investors is a temporary resident card issued to foreign investors who work in Vietnam, and this temporary resident card is valid as a long-term visa.

In the Law No. 51/2019/QH14 – Law on amending and supplementing some articles of the Law on entry, exit, transit, and residence of foreigners in Vietnam comes into force since July 01^st, 2020, there will be some new points and important information to keep in mind during the process of applying for a temporary resident card for investors.

Some new regulations on temporary resident card for investors in 2020

Regulations on the duration of temporary resident card for investors

According to Clause 3 and Clause 4 of Article 1 of the Law No. 51/2019/QH14, the provisions of the temporary resident card for investors are as follows:

For temporary resident card with the type  DT1

This is a temporary resident card granted to foreign investors and representatives of foreign organizations investing in Vietnam with a capital contribution of from VND 100 billion and above or as a foreigner investing in investment incentive industries and occupations, investment areas decided by the government. In this case, the temporary resident card is valid for 05 years.

For temporary resident card with the type  DT2

To be granted to investors with a capital contribution of from VND 50 billion and less than VND 100 billion, or foreigners investing in industries and occupations that encourage development investment. In this case, the temporary resident card will be valid for not more than 05 years.

For temporary resident card with the type  DT3

This is a card granted to investors with a capital contribution of less than VND 3 billion to less than VND 50 billion. The duration of temporary resident card does not exceed 03 years.

For temporary resident card with the type  DT4

This is a card granted to foreign investors with a capital contribution of less than VND 03 billion. The duration of temporary resident card does not exceed 01 year.

Provisions on conversion of visa purposes

One problem that foreign investors often face is that before they set up a new business in Vietnam, they did not have any Vietnamese agency or organization which is on behalf to guarantee in order to apply for a visa, so they usually enter Vietnam with a tourist visa, e-visa, or visa exemption.

Therefore, when completing the procedures for capital contribution and business establishment in Vietnam, investors must exit Vietnam to apply for an investment visa guaranteed by the newly established company. This has made it difficult as well as costly for investors.

However, according to the new regulations of the Law No. 51/2019/QH14, these difficulties have been resolved.

According to Clause 2, Article 1 of this Law, the investor’s visa or temporary resident card may converse purpose. If “the foreigner has papers proving himself to be the investor or the representative of the foreign organization investing in Vietnam”

In general, the amended and supplemented points of this Code have created the most favorable conditions for foreigners.

Some other provisions related to temporary resident card for investors

• The company guaranteeing for foreigners when applying for investment temporary resident card must have full sign of company and working office.
• There are papers proving that the foreigner has fully contributed capital as committed to the company.

Above are some new regulations amended and supplemented, to understand detailed information, as well as to answer all questions related to Temporary resident card for investors as well as Vietnam visa procedures, work permit. Please contact number: xxx for the fastest reply.

CONDITIONS AND PROCEDURES FOR MAKING TEMPORARY RESIDENT CARDS FOR FOREIGN INVESTORS

Foreigners enter Vietnam for many different purposes such as tourism, work, investment, etc.

When a foreigner resides in Vietnam for a long term, he or she not only has to have a work permit to work legally in Vietnam, but also needs a temporary resident card.

For investors who establish or contribute capital to companies operating in Vietnam, they will be granted a temporary resident card with a term of 05 years. So how to apply for obtaining temporary resident card for investors? What are the procedures and conditions for temporary resident card issuance? These problems will be answered through this article.

Conditions for obtaining temporary resident card for investors

• Valid passport
• The visa of the foreigner being used in Vietnam must be for the right purpose (investment visa is denoted by type: DT)
• The investment certificate or the business registration certificate must indicate the foreigner’s capital contribution or investment in the company.

Application file for temporary resident card for foreign investors

When customers use the service to apply for a temporary resident card for foreign investors of our company, you shall only provide us the following information:

• Scanned copy of business registration certificate or investment license
• Scanned copy of passport including visa and entry stamp
• Scanned copy of work permit
• 02 2x3cm photos taken at a white background.

Place of application for temporary resident card for foreigner who is the investor

The place of application is at the Immigration Department or the Immigration Management Division.

Duration for procedures to apply for temporary resident card

According to the regulations of the competent state to apply for a temporary resident card for foreigners is 05 working days from the date the competent authority receives a valid dossier.

In addition, we also provide service to expedite temporary resident card for foreigners when needed.

Contact information

For more details on issues related to temporary resident card or extension of temporary resident card. Please contact us via phone number: 0985 281 441 (zalo, etc.) for more detailed advice on each specific case.

Or you can leave your phone number in our website chat, let us contact and advise you.

In addition, we also offer many other services such as applying for a work permit, Vietnam visa, visa extension, etc.

DIFFERENCES BETWEEN A TEMPORARY RESIDENT CARD AND A VISA

What are the differences and similarities between a visa and a temporary resident card? Let’s find out and distinguish with Gia Hop in the article below!

The similarities between a visa card and a temporary resident card

These two types of cards have the following similarities:

Visa	Temporary resident card
This is a card used to certify that a foreigner has been allowed to enter a country. Each country has different policies and conditions for issuing visas to foreigners; corresponding to the length of stay and the purpose of entry. Common visa types include: business visa, tourist visa, visa for relatives visiting, business visa, etc.	In fact it is also considered as a visa, a long-term visa. This is the procedure that foreigners who want to stay in Vietnam for a long term to work or study; it is required to apply for a temporary resident card for foreigner.

 

Differences between a visa and a temporary resident card

Visa	Temporary resident card
Visa is a short-term visa, so it will be issued to foreigners who enter Vietnam for short-term. For example: tourist visa, visa for relatives visiting, short-term business visa, business visa, visa for conference attendance, etc.	Temporary resident card will be issued to foreigners who enter Vietnam and want to live permanently in Vietnam. For example: foreigners working for businesses, long-term study, investments, following family working in Vietnam, etc.

Who is granted a visa and a temporary resident card

All foreign nationalities who are eligible for issuing a visa under Vietnamese law can be granted a visa or a temporary resident card depending on each case.

Benefits when obtaining a visa and a temporary resident card

• If foreigners only have a visa, they can only stay in Vietnam for a valid time. But if foreigners still want to stay in Vietnam, they can apply for visa extension.
• Temporary resident card will have more benefits, because when obtaining a temporary resident card, foreigners will be able to travel freely in Vietnam without having to spend a lot of time applying for a visa many times, simpler in immigration procedures, or when obtaining a temporary resident card, foreigners are also allowed to buy houses, apartments, etc.

Advantages of using services of Gia Hop company

• You will be consulted for each specific case with services: work permit, visa extension, temporary resident card, immigration documents, Vietnam visa, etc.
• You will be assisted in preparing documents and completing documents
• Documents are processed quickly.
• Reasonable service costs
• You will be assisted in document approval on weekends, expedited services.

Any questions regarding the procedures of foreigners. Please contact us via phone number: xxxxxxxxx for support and detailed advice.