Steps to obtain an Investor TRC (Temporary Residence Card) in Vietnam

charmavietnam wrote:

Investors with $30000 and up only eligible for a TRC - TRC - DT1, DT2, DT3 (1,2,3 years depends on your 'Work Permit Exemption" document and validity of passport).
If your investment is lower than the said amount, you are only eligible to apply for 1 year DT4 visa (Single/multiple entry).

Supporting documents are same. Submit your application along with your original passport, old TRC/visa, Tax report of last 3 quarters, Residential document from your ward police and the photographs.
They have a studio set up there to take your photos which cost just 20K VND.
And the fee of Visa/TRC is $135-$145.
Collect your new Visa/TRC and passport next week morning.
I just did mine last month.
Immigration rip off agents asked to bring all documents (yeah, we pay, they let us work for them ) with the fee and service charge from $550 - $1200. If you go by yourself just 30 minutes process. No hassles.
Do some charity for needy poor people not rip off immigration/real estate agents!

That's right. My son paid an agency $650 for a TRC 🤬🤬🤬.
Who says better.

dan nhacca wrote:

That's right. My son paid an agency $650 for a TRC 🤬🤬🤬.

Did going through an agent allow him to not make the investment he would have had to otherwise?

THIGV wrote:

dan nhacca wrote:

That's right. My son paid an agency $650 for a TRC 🤬🤬🤬.

Did going through an agent allow him to not make the investment he would have had to otherwise?

Oups ! Sorry. I got the wrong TRC, it's TRC for husband. This amount revolts me.

That amount is just fine if it's an investor TRC sponsored by a company of that agent but man, if that is a spousal TRC, I must blame the Vietnamese spouse due to his/her ignorance or laziness to go and do it within less than 10 minutes with $145.  May be the foreigner spouse has a premium credit card to support the poor and needy immigration rip off agents!

You will get the spousal TRC for 3 years, unlike the Investor TRC 😁

charmavietnam wrote:

Investors with $30000 and up only eligible for a TRC - TRC - DT1, DT2, DT3 (1,2,3 years depends on your 'Work Permit Exemption" document and validity of passport).
If your investment is lower than the said amount, you are only eligible to apply for 1 year DT4 visa (Single/multiple entry).

Supporting documents are same. Submit your application along with your original passport, old TRC/visa, Tax report of last 3 quarters, Residential document from your ward police and the photographs.
They have a studio set up there to take your photos which cost just 20K VND.
And the fee of Visa/TRC is $135-$145.
Collect your new Visa/TRC and passport next week morning.
I just did mine last month.
Immigration rip off agents asked to bring all documents (yeah, we pay, they let us work for them ) with the fee and service charge from $550 - $1200. If you go by yourself just 30 minutes process. No hassles.
Do some charity for needy poor people not rip off immigration/real estate agents!

Thanks very much for updating the info.

Can you comment on the often quoted figure of ₫3,000,000,000 VNĐ (approximately $131,000 USD) being necessary to get an "investor visa"?

I believe it was Ciambella a while back who clarified that people who invest less than that get a TRC of shorter duration or a valid business Visa?

At that time I thought that she mentioned three different levels: 3 billion VNĐ and 500 Million VNĐ (for different lengths of TRC) and 100 million VNĐ for a 1 year business visa with work permit exemption.

Is it possible that the higher number has nothing to do with establishing your own company or LLC, but is a straight investment into existing businesses in Vietnam (such as investing 3 billion into a business within a government approved industry)?

Corrections or clarifications are welcome from anyone.

OceanBeach92107 wrote:

Can you comment on the often quoted figure of ₫3,000,000,000 VNĐ (approximately $131,000 USD) being necessary to get an investor visa?

I am unaware of this amount
Immigration staff told me that now minimum investment to get a TRC is $30000 (686,835.000 VND).

My company was registered with 500.000.000 VND ($21978) so according to new rule I am only eligible to apply for 1 year DT4 investor visa.
DT4 is the last category

If $30000, it will be 1-2 years TRC depends on the date of your Work Permit Exemption Certificate.
Higher investment will give up to 3 years TRC.

Ah, I just moved close to immigration office and did my jogging in front of it today
So if you guys need any assistance, feel free ask me, willing to help in this Covid time to save your hard earned money from rip off immigration agents!

Is anyone aware of the specifics of new rules for renewing the TRC?

I've just been informed that I (British working in Taiwanese owned business for three years) will no longer be eligible to renew my TRC based on that my 'work experience' has to be verified and legalized, but (as far as I am aware) there is no such thing in existence.

I've challenged this as I cannot believe it to be true. If it were then I'm sure the vast majority of expats would have to leave the country when the time comes to renew their TRC.

There is obviously the option of just obtaining a business visa and doing the 90 border run, but that doesn't fit with my values, so is not an option.

Can anyone shed any light on the subject?

TIA.

- @Overweight Unicorn

Is anyone aware of the specifics of new rules for renewing the TRC?

I've just been informed that I (British working in Taiwanese owned business for three years) will no longer be eligible to renew my TRC based on that my 'work experience' has to be verified and legalized, but (as far as I am aware) there is no such thing in existence.

I've challenged this as I cannot believe it to be true. If it were then I'm sure the vast majority of expats would have to leave the country when the time comes to renew their TRC.

There is obviously the option of just obtaining a business visa and doing the 90 border run, but that doesn't fit with my values, so is not an option.

Can anyone shed any light on the subject?

TIA.

- @Overweight Unicorn

Many, many holders of business visas were denied further extensions and forced to leave the country, starting in May, 2021, unless they had a work permit.

It seems that your employment has technically required that your 5 years of experience be verified and legalized, but your employer got away with not doing that up until now.

It doesn't sound like a new requirement.

Just an old requirement that's now being enforced, just as the technicalities of business visas are now being enforced.

Yes, it's possible to have your 5 years of experience verified, but as always, the onus is on you to provide supporting documentation.

It's hard to imagine that you had no idea that was the technical requirement when you applied for the job.

There are visa agents and attorneys who can assist with the process, for a fee.

Nobody else is going to do it for you.

Hopefully that fits with your values...

- @OceanBeach92107

OceanBeach92107 wrote:

Can you comment on the often quoted figure of ₫3,000,000,000 VNĐ (approximately $131,000 USD) being necessary to get an investor visa?

I am unaware of this amount
Immigration staff told me that now minimum investment to get a TRC is $30000 (686,835.000 VND).

My company was registered with 500.000.000 VND ($21978) so according to new rule I am only eligible to apply for 1 year DT4 investor visa.
DT4 is the last category

If $30000, it will be 1-2 years TRC depends on the date of your Work Permit Exemption Certificate.
Higher investment will give up to 3 years TRC.

- @charmavietnam

The new Law No. 51/2019/QH14 amending and supplementing a number of articles of the Law No. 47/2014/QH13 on entry, exit, transit and residence of foreigners in Vietnam will take effect on July 1, 2020.

Is anyone aware of the specifics of new rules for renewing the TRC?

I've just been informed that I (British working in Taiwanese owned business for three years) will no longer be eligible to renew my TRC based on that my 'work experience' has to be verified and legalized, but (as far as I am aware) there is no such thing in existence.

I've challenged this as I cannot believe it to be true. If it were then I'm sure the vast majority of expats would have to leave the country when the time comes to renew their TRC.

There is obviously the option of just obtaining a business visa and doing the 90 border run, but that doesn't fit with my values, so is not an option.

Can anyone shed any light on the subject?

TIA.

- @Overweight Unicorn

Many, many holders of business visas were denied further extensions and forced to leave the country, starting in May, 2021, unless they had a work permit.

It seems that your employment has technically required that your 5 years of experience be verified and legalized, but your employer got away with not doing that up until now.

It doesn't sound like a new requirement.

Just an old requirement that's now being enforced, just as the technicalities of business visas are now being enforced.

Yes, it's possible to have your 5 years of experience verified, but as always, the onus is on you to provide supporting documentation.

It's hard to imagine that you had no idea that was the technical requirement when you applied for the job.

There are visa agents and attorneys who can assist with the process, for a fee.

Nobody else is going to do it for you.

Hopefully that fits with your values...

- @OceanBeach92107

Thanks for your response... I think.

I'm not sure why you have a hard time imagining that I had no idea that it was a technical requirement? The only requirements necessary with the two previous employers in VN were a Criminal record check and a letter of expertise.

If you are actually referring to the letter of expertise as the verification of work experience then that is where you have misunderstood. They are asking for verification of my work experience going back to 1985! This is the part which baffles me.

My values are based on not being comfortable working in a country illegally. 

- @Overweight Unicorn

There is obviously the option of just obtaining a business visa and doing the 90 border run, but that doesn't fit with my values, so is not an option.

Question, if I were appointed MD of a LOCAL LLC, without investing capital in that company, does this qualify?

The role in the company would be as an advisor / consultant role to help grow the business.

- @Donegal Danny

Question, if I were appointed MD of a LOCAL LLC, without investing capital in that company, does this qualify?

The role in the company would be as an advisor / consultant role to help grow the business.

- @Donegal Danny

The 3-year TRC for a ₫3,000,000,000 VNĐ investment has become markedly more affordable in just over one year.

On 8 October 2021, it took $133,929 USD to make that investment.

Today you can make the same 3 billion đồng investment for $120,846 US dollars, a difference of $13,083

Of course, that also means that investments in VNĐ a year ago have lost significant value in relation to the USD.

Anyone choosing this option to gain a Temporary Resident Card (Thẻ Tạm Trú) should carefully review their long-term plans for their capital prior to investing.

This post is about a year old, but it contains so much useful information.  Thank you all.

I'm looking to start an IT consulting company there, 100% foreign owned.  Has anyone opened a DT4 company?  I'm hearing that I'm WP exempt, I need a WP, just many conflicting things.  If anyone has done it, please document the steps here.  I'll use an agent/lawyer, I just don't want to get the runaround.

Thanks all

@Bill52222 I'll throw a guess, apologizes if i'm wrong. The taker was 100% foreign owned and the constant use of I and me haha. You don't have a Viet wife, few thousands in the bank trying to get a long term "cheapest" visa and why not, maybe make money out of that " it consulting"? If i'm correct, you will soon discover, hundreds dollars later, how costly unfeasable and nonsensical the idea is. What may appear to you as a 30k$ investment (minimum for dt4) you will soon realize how fast it grows, expecially 1 year later. Auditing, legal, taxes, an honest viet accountant with a brain, all your various personal documents trc visa blahblah. Big headache, big management, a lot of money spent, way more in the way. income? eehh.. By no means, grab a few hundreds and chat with a lawyer. Don't be surprised if 1 year later you are in Cambodia drinking beer at a pub thinking those 30k bucks were better kept in a saving account haha

This post is about a year old, but it contains so much useful information. Thank you all.
I'm looking to start an IT consulting company there, 100% foreign owned. Has anyone opened a DT4 company? I'm hearing that I'm WP exempt, I need a WP, just many conflicting things. If anyone has done it, please document the steps here. I'll use an agent/lawyer, I just don't want to get the runaround.
Thanks all
-@Bill52222

I just confirmed with a Brit who has owned a business here in Tam KY, Quang Nam with a Vietnamese partner since 2020, and finally got his legal business license this month:

Minimum business investment for DT4 visa was raised to 600 Million Vietnam dong (law passed December 2019, effective July 1, 2020, enforcement increased after the elections of May 2021).

Only 1 year business visa granted.

No virtual businesses; must have a brick & mortar store address.

Must hire an accounting service.

He said that initially he had the Vietnamese partner, but now that the business has been fully funded and legal he owns it out right without that partner.

So that is causing me to question perpetual advice given that a foreigner needs to have a Vietnamese partner in order to open a business here.

I'm also not totally sure about the work permit exemption but that does make sense and it wouldn't surprise me.

If you have a very concrete plan about the business that you want to open and where you want to open it, you can send me a private message and I might be able to make a referral for you for legal advice.

But if you're not there yet and you need a business consultancy service then you'll have to go another route.

@OceanBeach92107 what a beautiful story! And the 1 in a million story where the foreigner is the one kicking the viet partner and it's successful haha, it usually ends the opposite way. May i ask which kind of business, the grand total of the capital poured from his side and who for him or how he is handling all the legal, commercial , tax, staff etc side all by himself? And how he is getting all papers trc visa WP etc renewed year by year, incountry? Mothertoungue level of vietnamese from university courses in hanoi i guess?

His contribution / experience would be interesting to read on this trc thread

@OceanBeach92107 what a beautiful story! And the 1 in a million story where the foreigner is the one kicking the viet partner and it's successful haha, it usually ends the opposite way. May i ask which kind of business, the grand total of the capital poured from his side and who for him or how he is handling all the legal, commercial , tax, staff etc side all by himself? And how he is getting all papers trc visa WP etc renewed year by year, incountry? Mothertoungue level of vietnamese from university courses in hanoi i guess?
His contribution / experience would be interesting to read on this trc thread
-@Filot

I already told you the capital contribution he was required to make: 600 million Vietnam dong.

It's basically a retreat center/motel with a restaurant.

He has a Vietnam lawyer who handles all of his paperwork requirements and assists with keeping everything up to date.

Please read again carefully: he does NOT get a TRC; TRC is unavailable for a DT4 visa (normally 3 months).

Instead, he chose to apply for the maximum 1 year DT4 business visa which can be renewed every year.

He has a legal accountant in Vietnam who submits paperwork to the lawyer.

His level of speaking Tiếng Việt is irrelevant because it's not required, but FWIW, he hardly speaks a lick.

@OceanBeach92107 impressive. That lawyer is quite the do it all gamechanger, i can imagine how much it costs him monthly considering he's handling all the law part and all his foreigner's papers. Plus accountant managing the entire business. The right guy at the right time is the secret recipe i guess, that lawyer is basically the "viet wife handling everything" haha , quite rare to meet, much less to commit. Plus an honest partner, committed and backing off at the split stage. That's the most incredible part of his lucky story haha. No, i was asking the grand total he truly needed to settle and make the business functional once passed the loss stage. Paper yeah, a buddy may fix everything, but the true capital is a big different story. Considering he is now, 2 years later, on the positive to the point of go solo i would estimate a real grand total personal parachute of.. 80k $ ish of pure loss (day 1 to partner splitting) ? Expecially considering covid lockdowns and how bad is tourism going nowadays

A very rare interesting story, i hope he can share more insights on his day 1 to today 's experience. And yeah, i want the number of his lawyer and accountant

The initial message was written in 2018, now we are in 2023, what's change in the TRC's visa process for investors?

@charmavietnam I can invest $40000, what class of VISA could I be in?

Do I need to issue the WP first?

Currently I'm not yet married to my Vietnamese girlfriend (I'm awaiting divorce from my previous wife), so I have to do everything as an investor, later when we can get married what should I do to be sure to stay in Vietnam for a long time?

@charmavietnam I can invest $40000, what class of VISA could I be in?
Do I need to issue the WP first?
Currently I'm not yet married to my Vietnamese girlfriend (I'm awaiting divorce from my previous wife), so I have to do everything as an investor, later when we can get married what should I do to be sure to stay in Vietnam for a long time?
-@Joss15

At current exchange rates, you need about $126,516.00 USD invested to get a ĐT3 Visa, which will qualify you for a 3 year TRC.

See this article (link) from a trusted* source regarding the immigration law changes that were passed into law in December 2019 and became effective July 1st, 2020.

Best way to read this thread and not get confused is to read backwards from the most recent to the oldest posts, as a lot of old advice is not applicable anymore.

*trusted by the Houston, Texas, USA Consulate General of Vietnam (website uses that other sight to explain policies and procedures in English).

@Joss15 We just established in Singapore and Vietnam and found things have changed quite a bit. Or maybe I found a unique approach to establishing my company and getting a business visa.

We setup our company using our Corporate Partners for a nominal fee, this gave both myself and my Director 1year business visa, with the option to extend to 2years TRC. No major investment required, we were only required to deposit minimum $10k USD in a Vietnam account, of which, we could use the funds toward establishing our business....so in essence, investing in our own company.

We did have to setup local offices, but utilized our corporate partners Registered Offices and used a Representative Director (local Vietnamese) to setup our company documents. Our company is 100% foreign owned.

Feel free to message me with any questions or if you want to consider the Business Setup option.

Does anyone have a good reliable and cost effective agent they use to help with the visa part of this and the TRC part? Seems like a lot of running around and could use a little help to get this going on my side. Already have the company side completed...

.

    Does anyone have a good reliable and cost effective agent they use to help with the visa part of this and the TRC part? Seems like a lot of running around and could use a little help to get this going on my side. Already have the company side completed...
   

    -@mith7

I responded to your private message with my personal recommendation, but any of the larger visa agencies can handle the job for you IF...IF your previous steps have indeed qualified you for the visa and subsequent TRC you are seeking...AND if you fully qualify.

There is a difference between the minimum capital outlay required to establish a company vs. the minimum capital contribution required to obtain a 1 year business visa (ĐT4) or a 3 year Temporary Resident Card (TRC) with the processes being totally separate.

A business may be established with only a tourist visa.

However, in order to further obtain a 1 year business visa for investors (ĐT4) a minimum capital contribution of ₫600,000,000 VNĐ (approximately $24,299 USD) is currently required.

To obtain a 3 year TRC for investors, a minimum capital contribution of ₫3,000,000,000 VNĐ (approximately $121,494 USD) is required.

Thus, this thread contains misleading and deceptive posts about establishing a legal business in Vietnam, implying that information is sufficient to qualify for a business visa or investor TRC.

IMO, those "advertisements" are improperly off topic in a thread dedicated to obtaining an investor TRC.

In the central region (greater Đà Nẵng area) I've encountered nearly a dozen expats who've had to switch from a TRC to either a business visa (if they had enough money) or to a 3 month tourist visa because of the laws passed in December 2019 and implemented in July, 2020 (during COVID).

Those changes to the law are still on the books.

Good luck with your next steps.