Vietnam Introduces 10-Year Golden Visa to Attract Indian Investors and Visitors.

The nation has proactively promoted international cooperation by introducing the 10-year Golden Visa policy. Providing investors and upscale tourism travellers with increased attention from India, the policy will foster new channels of long-term bilateral cooperation, economic growth, and people-to-people exchanges between the nations.

What is the 10-Year Golden Visa?

The 10-Year Golden Visa is a 10-year visa designed to attract foreign direct investment, entrepreneurs, high-net-worth individuals, and high-value investors. Foreigners, especially investors, can stay in Vietnam for up to 10 years on this visa without needing to renew it repeatedly.

Key Features:

• 10-year validity with multi-entry facility
• For entrepreneurs, investors, and high-net-worth qualified professionals
• Offers residential comfort to families
• Provides residential benefits such as an operating license for business and access to services

Why are Vietnam’s Indian Investors and Tourists on the Rise?

Booming Bilateral Relations

India and Vietnam share a long diplomatic and trade history. For the last few years, tourist arrivals, cultural visits, and trading cooperation have increased. As India’s middle and upper classes become increasingly affluent, Vietnam opens its doors under its Golden Visa scheme.

Indian Tourist Inbound Growth

Indian travellers easily enjoy Vietnam’s natural attractions, experiences, and cities. The ease of booking, access by link, and value proposition make Vietnam a perfect holiday destination for India’s tourism market. The Golden Visa is an honour to leave the bandwagon, pursue a long-term travel paradigm, and head back towards exploring the world.

Resilient Investment Worth

Indian enterprises have been keenly interested in being targeted by Vietnamese enterprises and entrepreneurs for investment opportunities in various sectors, including manufacturing, information and communication technology, alternative energy, education, and healthcare. The Golden Visa will be a draw to attract such players into the nation to invest long-term and establish partnership tie-ups.

Eligibility Conditions for Golden Visa

The applicant needs to satisfy specific exclusive criteria to receive a 10-Year Golden Visa, namely:

• Minimum Investment Threshold: Minimum Vietnamese business, property, or projects as approved by the government.
• Financial and Legal Proof: Documentary evidence of an untarnished source of funds, company profile, and an unblemished police record.
• Sustainable Contribution: Documentary evidence showing their willingness to provide sustainable inputs in the socio-economic growth of Vietnam.
• Business or Professional Qualifications: Preferably, achievement of a business or professional qualification and equivalency.

Golden Visa Benefits to Indians

For Investors and Entrepreneurs

• Permanency in Residency: Permanency of residency obliterates most visa renewals and grants, and family and business stability.
• Freedom of Business: Foreign investors enjoy freedom of operation and the opportunity to establish legally based businesses in Vietnam’s emerging economic market.
• Access to Services: Visas entitle their holders to access healthcare, education, and financial services within Vietnam’s residency scheme.
• Path to Citizenship: For some, extended stay can become a pathway to permanent or full citizenship.

For Families and Tourists

• Simplicity of Travelling: The facility of visa application and the likelihood of extended stays tempt repeat visitors and tourists who love long vacations.
• Cultural Exposure: Visas also facilitate the invitation of the guest’s family to Vietnam’s unconventional lifestyle and culture.
• Education Opportunities: Children of visa holders can pursue a Vietnamese or foreign education with fewer restrictions.

Vision of Vietnam: Economic Development through International Partnerships

Tourism Development

Vietnam recognises tourism as one of the most significant drivers of economic growth. With the Golden Visa, Vietnam targets high-spending tourists who have a positive impact on hospitality, business, and local services. It also provides space for luxury tourism infrastructure to develop harmoniously with Indian tourists.

Encouraging Long-Term Investments

Vietnam’s low labour costs, pro-business legal climate, and Southeast Asian location are three of the most appealing features to foreign investors. Business moguls converge on Vietnam to invest in 10-year projects, research centres, software companies, etc., on a 10-year visa.

FAQs

Q1: Who is eligible to apply for Vietnam’s Golden Visa?

Indian nationals who satisfy the provided investment and legal requirements, i.e., investment quantum and proof of good standing, are eligible to apply. The targeted market consists of professionals, businesspeople, and high-net-worth individuals.

Q2: What sectors of investment are included under this scheme?

The Golden Visa scheme includes investments in manufacturing, IT, renewable energy, agriculture, real estate development, education, and tourism infrastructure. Priority state projects shall be given priority.

Q3: Can the holder bring their family members with them to Vietnam?

Yes. The holder’s spouse, child, and dependents are permitted to enter and remain in Vietnam as direct family members under a full-family benefit Golden Visa scheme.

Q4: Does the visa grant the right to work in Vietnam?

Yes. Under Vietnamese labour and business law, visa holders are eligible to establish businesses, invest in companies, or work professionally.

Q5: How long is the Golden Visa processing time?

Processing times are uncertain, but application and authorisation typically take 30 to 90 days, depending on the completeness and accuracy of the documentation and verification.

Challenges and Considerations

Even though the Golden Visa is an equal opportunity, there are specific problems that must be remembered:

• Legislative Changes: Immigration and investment laws are constantly evolving, and amendments can significantly impact long-term residency rules.
• Cultural and Language Gap: Integrating Vietnamese culture and language will be challenging for children.
• Due Diligence: Due diligence must be done before investing in a Vietnamese firm or company.

The Vietnam 10-Year Golden Visa policy is a game-changer for Vietnam. It establishes a new economic connection and fosters a people-to-people interface between Vietnam and India. Establishing a representative office and forming strategic alliances is a risk-free window of opportunity. It is a new world for Indian tourists and families, with lifestyle benefits and long-term returns.

With investor-friendly policies backed by visionary thinking, Vietnam can emerge as India’s first-choice destination for talent, capital, and investment. The Golden Visa is not a visa card; it’s an invitation to come and stay with us free of cost.