WHAT IS AN INVESTMENT VISA? COMPONENTS OF INVESTMENT VISA APPLICATION DOCUMENTS?
QUESTION
Dear TLK Law Firm, we hope to have your company answer the following question: My company is a Korean enterprise. Currently, my company is in need of investing in establishing a Korean company in Vietnam, but I still have questions related to investment law issues in Vietnam as follows: What is an investment visa and what do I want? What documents do I need to prepare to apply for an investment visa? So let me ask: What is an investment visa? Components of an investment visa application document? Looking forward to your company's answer. Thank you!
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Thank you for your trust and sending questions to TLK Law Firm. Based on legal regulations and practical solutions, we would like to send you the following consulting content:
LEGAL BASIS
1. Labor Code No. 45/2019/QH14 passed by the National Assembly on November 20, 2019;
2. Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam No. 47/2014/QH13 passed by the National Assembly on June 16, 2014;
3. Law amending and supplementing a number of articles of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam No. 51/2019/QH14 passed by the National Assembly on November 25, 2019;
4. Decree No. 152/2020/ND-CP issued by the Government on December 30, 2020 regulating foreign workers working in Vietnam and recruitment and management of Vietnamese workers working for foreign organizations and individuals in Vietnam;
5. Circular No. 04/2015/TT-BCA issued by the Ministry of Public Security on January 5, 2015 stipulating sample documents related to the entry, exit, and residence of foreigners in Vietnam;
6. Circular No. 31/2015/TT-BCA issued by the Ministry of Public Security on July 6, 2015 guiding a number of contents on visa issuance, temporary residence card issuance, entry and exit permits, and handling Permanent residence for foreigners in Vietnam;
7. Other legal documents providing relevant guidance.
CONSULTATION CONTENT
Currently, the economic integration process is increasingly developing and achieving certain achievements. Along with that, more and more foreign investors decide to invest in Vietnam. But, because of defense and security factors, the entry of foreigners including foreign investors is extremely strictly controlled. Therefore, foreign investors in Vietnam who want to enter Vietnam are required to register for an investment visa at the competent authority. However, when carrying out this procedure, you are very confused and do not clearly understand Vietnam's regulations on investment visas as well as the components of the investment visa application document. Through the article below, we - TLK Law Firm will help you answer questions related to what is an investment visa? Components of an investment visa application document?
Photo 1. What is an investment visa? Components of an investment visa application document_ Hotline: 0972118764
I. SOME IMPORTANT LEGAL ISSUES RELATED TO INVESTMENT VISA
1. What is an investment visa?
Visa is the common name for visa. Pursuant to the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014 (amended and supplemented in 2019), a visa is a type of document issued by a competent Vietnamese agency, to allow foreigners to enter Vietnam.
Accordingly, an investment visa is understood as a visa issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam. Only when granted a visa, foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam are allowed to enter Vietnam.
=> See more: What is a work visa? What are the conditions for applying for a work visa for foreign workers?
2. Symbols and classification of investment visas
Pursuant to the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014 (amended and supplemented 2019), investment visas include 4 types as follows:
(1) DT1: Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with contributed capital worth VND 100 billion or more or investing in industries and professions with investment incentives investment incentives and areas decided by the Government;
(2) DT2: Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with capital contributions worth from 50 billion VND to less than 100 billion VND or investing in industries and professions. encourage development investment as decided by the Government;
(3) DT3: Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with contributed capital worth from 03 billion VND to less than 50 billion VND;
(4) DT4: Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with contributed capital worth less than 03 billion VND.
3. Conditions for being granted an investment visa
Pursuant to the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014 (amended and supplemented 2019), foreigners entering Vietnam to invest and be granted an investment visa must meet the following conditions as follows:
(1) Have a passport or valid international travel document;
(2) There is an agency, organization or individual in Vietnam inviting or sponsoring, except for cases specified in the Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam 2014 (amended, supplement 2019);
(3) Not falling into the cases of not allowing entry as prescribed in the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014 (amended and supplemented 2019);
(4) Foreigners investing must have documents proving their investment in Vietnam according to the provisions of the Investment Law 2020.
II. PROCESS FOR IMPLEMENTING INVESTMENT VISA APPLICATION PROCEDURES
1. Steps to carry out procedures for applying for a work visa
Step 1: Foreign investors and representatives of foreign organizations investing in Vietnam prepare investment visa applications including required papers and documents;
Step 2: Foreign investors, representatives of foreign organizations investing in Vietnam submit visa applications at the competent visa-issuing agency;
Step 3: The competent visa-issuing agency receives, evaluates and requests amendments and supplements, in case the documents are invalid;
Step 4: The visa-issuing authority decides to issue an investment visa;
Step 5: Foreign investors and representatives of foreign organizations investing in Vietnam receive the results.
2. Process for handling work visa application procedures
A. Profile components
To be granted an investment visa, individuals and organizations must carry out investment visa application procedures at the competent authority. Pursuant to the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014 (amended and supplemented 2019), investment visas are issued to foreign investors in Vietnam and their representatives. Foreign organizations investing in Vietnam are granted many degrees such as:
- Issuing electronic investment visa;
- Issuing investment visas at Vietnamese visa-issuing authorities abroad;
- Issuing investment visas at international border gates;
- Issuance of work visas at immigration management agencies and competent agencies of the Ministry of Foreign Affairs.
However, in any case, the person carrying out investment visa procedures must prepare documents including the following papers and documents:
1. Visa application form according to the prescribed form;
2. Passport (original);
3. Portrait photo 4cm x 6cm;
4. Work permit exemption for investors;
5. Legal documents of the inviting and guaranteeing business/company include: company business registration, seal registration form, documents certifying full tax payment (certified copies);
6. Documents proving that you are an investor;
7. Other documents as required by the competent authority (if any).
B. Resolution agency
- In case of electronic investment visa issuance: Immigration Department;
- In case of issuance of investment visas at the competent Vietnamese visa-issuing agency abroad: The competent Vietnamese visa-issuing agency abroad shall follow the direction of the competent agency of the Ministry of Foreign Affairs;
- In case of issuance of investment visa at international border gate: Immigration control unit;
- In case of issuance of investment visa at the immigration management agency, competent agency of the Ministry of Foreign Affairs: Immigration Management Department or competent agency of the Ministry of Foreign Affairs.
C. Procedures
- In case of electronic investment visa issuance: done directly on the electronic visa issuance information page;
- In the remaining cases: submit the application directly to the competent visa-issuing agency depending on each case.
D. Implementation results
Investment visa.
E. Implementation time
- In case of issuance of an electronic investment visa: 03 working days from the date of receiving complete information requesting an electronic visa and visa issuance fee;
- In case of issuance of investment visa at a Vietnamese visa-issuing authority abroad: 03 working days from the date of receipt of notification from the immigration authority or competent authority of Vietnam Foreign Office;
- In case of issuance of investment visa at international border gate: right at the time of entry, after the immigration control unit checks and compares with the notice of the immigration management agency;
- In case of issuance of investment visa at the immigration management agency or competent agency of the Ministry of Foreign Affairs: 05 working days from the date of receipt of complete documents.
=> See more: What is a visiting visa? Who are eligible to be issued and sponsored for a Vietnam visit visa?
III. SUMMARY OF THE ANSWER SECTION: WHAT IS AN INVESTMENT VISA? COMPONENTS OF INVESTMENT VISA APPLICATION DOCUMENTS?
Dear Customers, from the above synthesis and analysis, TLK Law Firm would like to give the following answer:
Investment visa is a visa that Vietnamese competent authorities grant to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam. This is a required document to enter Vietnam as an investor (except for some visa exemption cases).
To be granted an investment visa, foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam must carry out investment visa procedures at a competent authority or on the website. Electronic visa issuance information if there is a need for an electronic visa. Documents for carrying out procedures include:
1. Visa application form according to the prescribed form;
2. Passport (original);
3. Portrait photo 4cm x 6cm;
4. Work permit exemption for investors;
5. Legal documents of the inviting and guaranteeing business/company include: company business registration, seal registration form, documents certifying full tax payment (certified copies);
6. Documents proving that you are an investor;
7. Other documents as required by the competent authority (if any).
=> See more: Types of visas for foreigners in Vietnam. What are the regulations for visa sign?
Photo 2. What is an investment visa? Components of an investment visa application document_ Hotline: 0972118764
III. HOW SHOULD YOU BEST CHOOSE AN ORGANIZATION THAT PROVIDES LEGAL SERVICES?
An organization providing quality and reputable legal services should have the following criteria:
First: Must be an official legal organization with a legal operating license;
Second: It is better if the Board of Directors must be lawyers, experienced and have high degrees;
Third: Have a team of lawyers and a systematic, professional, and thoroughly trained human resources system;
Fourth: Friendly, dedicated and make every effort for the benefit of customers. Consider customer satisfaction and work quality as your own honor;
Fifth: Professional, thoughtful, flexible and logical service provision process to optimize work performance and save customers' time;
Sixth: Reasonable and competitive service prices;
Seventh: Rich services in both fields of supply and service packages in the same field for customers to choose the appropriate service package, as well as comprehensive support for customers throughout the operation process. movement;
Eighth: Have the ability to Connect - Promote commercial relationships for customers if customers have needs,...
Finding a comprehensive, professional and reputable legal consulting organization is what every customer wants. Because no one wants to risk losing both money and time while the results are not as expected. However, finding such an organization is not easy because the number of service providers in the Vietnamese market today is very large with varying quality.
A suggestion for you: Although our TLK Law Firm does not dare to claim to be the best legal service provider on the market, we satisfy all of the above criteria and more will definitely be a good choice for you.
=> See more: If a passport is about to expire, is it still possible to obtain a visa?
V. SOME QUESTIONS RELATED TO INVESTMENT VISA
Question 1: How long is the investment visa?
Reply:
Pursuant to the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014 (amended and supplemented 2019), the duration of an investment visa is determined depending on the type of visa the investor is granted as follows:
(1) Duration not exceeding 12 months for DT4 investment visa;
(2) Duration not exceeding 03 years for DT3 investment visa;
(3) Duration is not more than 05 years for investment visa types DT1, DT2.
Question 2: Currently, my passport has no visa page. So, when applying for an investment visa in Vietnam, how is my investment visa issued?
Reply:
Pursuant to the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014 (amended and supplemented in 2019), in case the investor's passport has run out of visa pages, when carrying out procedures If you apply for an investment visa, you will be issued a separate visa. In addition, investors are also granted separate visas if they fall into one of the following cases:
Passport of a country that does not have diplomatic relations with Vietnam.
(1) Documents valid for international travel;
(2) For diplomatic, national defense and security reasons;
(3) Passport of a country that does not have diplomatic relations with Vietnam.
=> See more: What is Visa? Cases of visa exemption? Visa validity period?
Above is some general advice that we would like to offer to our customers. As a service provider, we always understand and are ready to accompany and solve the needs and difficulties that customers are facing. If you still have questions or need more in-depth advice, please contact the hotline: 0972118764 to receive direct advice from a lawyer (completely free consultation).
Thank you very much!
Administrative Procedures Department - TLK Law Firm
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