Vietnam Proposes 10-Year ‘Golden Visa’ to Boost Tourism and Investment
Vietnam is considering introducing a long-term “Golden Visa” program, valid for up to 10 years, aiming to attract affluent tourists, investors, and skilled professionals. This initiative, proposed by the Tourism Advisory Board (TAB) to Prime Minister Pham Minh Chinh, seeks to enhance Vietnam’s competitiveness in Southeast Asia’s tourism sector, especially against countries like Thailand and Malaysia that already offer similar long-term visa options.
🌍 Proposed Visa Options
The TAB’s proposal includes three distinct visa categories:
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10-Year Golden Visa: Designed for high-net-worth individuals seeking long-term residence in Vietnam.
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10-Year Investor Visa: Offers a pathway to permanent residency after five years, provided the investment is maintained.
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Year Talent Visa: Targets skilled professionals with a simplified renewal process.
These visas aim to provide more accessible and flexible options compared to the current DT-class visas, which require significant capital commitments and active business involvement.
🏙️ Pilot Implementation in Key Cities
The TAB suggests piloting the Golden Visa program in major tourism and economic hubs, including:
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Phu Quoc
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Ho Chi Minh City
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Hanoi
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Da Nang
These locations have the necessary infrastructure and appeal to attract long-term foreign residents and investors.
💼 Strategic Goals and Considerations
The introduction of the Golden Visa program aligns with Vietnam’s broader strategy to:
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Attract foreign direct investment in sectors like luxury hospitality and real estate.
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Enhance the country’s appeal as a long-term destination for global professionals and retirees.
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Maintain momentum in tourism recovery post-pandemic, with 17.5 million international visitors in 2024.
However, experts caution that clear criteria and safeguards are necessary to prevent potential issues such as money laundering. Applicants may need to demonstrate substantial assets, stable finances, and a genuine commitment to contributing to Vietnamese society.
As Vietnam continues to refine its visa policies, the proposed Golden Visa program represents a significant step toward attracting long-term foreign residents and bolstering the nation’s position in the global tourism and investment landscape.
