DISTINGUISHING 3 TYPES OF TEMPORARY RESIDENCE CARDS FOR FOREIGN INVESTORS

Owning temporary residence card is one of the important conditions for foreign investors to reside legally and conduct business smoothly in Vietnam. However, within the same group of individuals, temporary residence cards can be classified under different symbols. Currently, the law of Vietnam stipulates three types of temporary residence cards for foreign investors, each with different eligibility requirements, validity periods, and associated rights. Therefore, what are the specific differences among these three types of cards?

How do temporary residence cards differ from visas?

According to current legal regulations, both visa and temporary residence card have legal validity allowing foreign nationals to enter Vietnam. However, fundamentally, temporary residence card serves the purpose of residence for a longer period compared to a visa, and its application depends on the specific context and the individual conditions of each case.

As referenced in Article 3 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014 (amended and supplemented by the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2019):

“Article 3. Interpretation of Terms

…

11. “Visa” means a document issued by a competent authority of Vietnam to a foreigner to grant entry into Vietnam.

…

13. “Temporary residence card” means a document issued by an immigration authority or a competent authority of the Ministry of Foreign Affairs to a foreigner who is permitted to reside in Vietnam for a certain period of time and serving as a substitute for a visa.”

How are visas and temporary residence cards for foreign investors classified?

Foreign investors, or representatives of foreign organizations investing in Vietnam (collectively referred to as “foreign investors”), may be granted visas and temporary residence cards corresponding to the purpose of “investment” as stipulated by law. The symbols on the visas and temporary residence cards for each group of foreign investors are not the same but are classified based on the value of the capital contribution and/or the location of the investment project.

a. Visas for foreig ninvestors

Visas for foreign investors are granted with one of the following symbols:

– “DT1”: issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of VND 100 billion or more or investing in business lines benefitting from investment incentives, in administrative divisions benefitting from investment incentives decided by the Government. Validity of visa does not exceed 05 years.

– “DT2”: issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of VND 50 billion to less than VND 100 billion or investing in business lines benefitting from investment incentives treatment decided by the Government. Validity of visa does not exceed 05 years.

– “DT3”: issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of VND 3 billion to less than VND 50 billion. Validity of visa does not exceed 03 years.

– “DT4”: issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of less than VND 3 billion. Validity of visa does not exceed 01 years.

b. Temporary residence cards for foreign investors

Temporary residence cards are granted to foreign investors who already hold a visa, with the symbol on the temporary residence card corresponding to the symbol of the visa. It is important to note that foreign investors are eligible to be considered for a temporary residence card if they enter Vietnam with a visa bearing the symbols DT1, DT2, or DT3.

The validity periods for each type of temporary residence card are as follows:

– Temporary residence card with symbol DT1: not exceeding 10 years.

– Temporary residence card with symbol DT2: not exceeding 05 years.

– Temporary residence card with symbol DT3: not exceeding 03 years.

Note that the validity period of the temporary residence card issued must be at least 30 days shorter than the remaining validity of the passport. Upon expiration, the card will be considered for renewal.

Foreign investors with temporary eesidence cards may sponsor other foreigners to enter Vietnam?

Foreign investors who have been issued temporary residence card are allowed to sponsor their grandparents, parents, spouses, and children to enter Vietnam for visits. They can also sponsor their spouse and children under 18 years old to live with them for the validity duration of the temporary residence card. It is important to note that the sponsorship must be approved by the inviting or sponsoring organization or individual.

Who is responsible for implementing the procedure to issue temporary residence cards to foreign investors?

According to Article 4 of Circular 31/2015/TT-BCA:

“Article 4. Procedures and power to process application for issuance of temporary residence cards

1. The inviting entity shall apply for issuance of a temporary residence card on behalf of an eligible foreigner prescribed in Clause 2 Article 36 of this Law at Immigration Administration Department or Division of immigration administration of police authority of the province or central-affiliated city (hereinafter referred to as province) where the inviting entity’s headquarter is located or where the inviting entity resides.”

Pursuant to the above regulations, the procedure to grant a temporary residence card to a foreign investor will be carried out by the competent state agency through the sponsoring organization.

The processing time for issuance of temporary residence card is 5 working days from the date of receipt of the complete and valid application.

>> ISSUANCE OF TEMPORARY RESIDENCE CARD FOR FOREIGNERS https://linconlaw.vn/issuance-of-temporary-residence-card-for-foreigners/

>> PENALTIES FOR OVERSTAYING TEMPORARY RESIDENCE CARD https://linconlaw.vn/penalties-for-overstaying-temporary-residence-card/