Vietnam Proposes 10-Year Golden Visa to Attract Long-Term Investors and Businesses

Vietnam’s Prime Minister has introduced flexible visa policies aimed at achieving the ambitious target of welcoming 23 million foreign visitors. This initiative includes short-term visa exemptions, enhanced approval processes, and preferential policies for specific groups. Among the most significant proposals is the introduction of a “golden visa” program, which would grant long-term residency—ranging from five to ten years—to foreign investors, retirees, and skilled professionals. This initiative, put forward by the Vietnam Tourism Advisory Board (TAB) to Prime Minister Phạm Minh Chính, seeks to enhance Vietnam’s attractiveness as a premier destination for long-term visitors while stimulating economic growth through increased tourism and foreign investment.

Details of the Proposal

The proposal from the tourism advisory board outlines three special visa categories designed to cater to different groups of long-term residents:

1. 5–10-Year Golden Visa: This visa is aimed at individuals seeking general long-term stays in Vietnam, allowing them to immerse themselves in the local culture and economy.
2. 10-Year Investor Visa: This visa not only facilitates long-term residency but also paves the way for permanent residency after five years. This is particularly enticing for foreign investors looking to establish a foothold in Vietnam’s burgeoning market.
3. 5-Year Talent Visa: Designed for skilled professionals, artists, researchers, and innovators, this visa features streamlined renewal processes, making it easier for talented individuals to contribute to Vietnam’s economy and cultural landscape.

To ensure the viability of the proposed visa program, TAB has suggested piloting these visas in major tourism hubs such as Phu Quoc, Ho Chi Minh City, Hanoi, and Da Nang before a nationwide rollout. This phased approach will allow the government to assess the program’s effectiveness and make necessary adjustments.

Additionally, TAB has recommended the formation of a Visa Policy Reform Board, which would include representatives from both the public and private sectors. This board would be responsible for reviewing and implementing new visa types and incentives, ensuring that the program remains responsive to the needs of both foreign residents and the Vietnamese economy.

Strategic Context

Vietnam’s tourism sector is on a path to recovery, rebounding to approximately 98% of pre-pandemic levels by 2024 and welcoming an estimated 17.5 million international visitors. The first quarter of 2025 has already seen over 6 million international arrivals, marking the highest quarterly total on record and a nearly 30% increase compared to the same period last year. To maintain this momentum, Vietnam is keen to offer more flexible and attractive visa options that encourage longer stays.

This move also aligns with regional trends, as neighboring countries like Thailand, Malaysia, and Indonesia have successfully implemented similar long-term visa programs to attract foreign capital and talent. By positioning itself alongside these nations, Vietnam aims to enhance its competitiveness in the global tourism and investment landscape.

Challenges and Considerations

While the golden visa program holds great promise, several challenges need to be addressed:

• Eligibility Criteria: The government must establish appropriate investment thresholds and qualifications to ensure that the program attracts genuine contributors to the economy. This will help filter out those who may not have a serious commitment to investing in or residing in Vietnam.
• Infrastructure Development: To meet the expectations of long-term foreign residents, Vietnam must enhance its infrastructure, including healthcare, education, and transportation. These improvements are essential for ensuring a high quality of life for new residents.
• Regulatory Clarity: Establishing transparent and efficient administrative processes will be crucial for the success of the golden visa program. Clear guidelines and streamlined procedures will build trust among potential applicants.

In conclusion, by implementing a well-structured golden visa program, Vietnam aims to position itself as a competitive and welcoming destination for long-term foreign residents. This initiative is expected to foster sustained economic growth and facilitate cultural exchange, ultimately enriching both the local community and the newcomers who choose to make Vietnam their home.