Follow WOWNEWS 24x7 on:
Updated: May 09, 2025 06:45
Vietnam has officially opened a revolutionary 10-year golden visa scheme, marking a significant change in its approach to welcoming long-term foreign residents, investors, and top talent. The initiative is part of Vietnam's larger vision to shift from being a short-term tourist destination to a sustainable international business, cultural, and cooperation hub in Southeast Asia.
Main features of the new golden visa program:
The scheme presents three principal visa types: a Golden Visa of 5 to 10 years' duration (extendable), an Investor Visa of 10 years' duration and route to permanent residence after five years, and a Talent Visa for high-calibre professionals in emerging sectors of five years' duration with simplified renewal.
Applications for these visas will be done fully online, eliminating the requirement for embassy appointments and making the process more convenient and efficient for international applicants.
The golden visa is intended to provide renewable long-term residency to individuals contributing significantly to Vietnam's economy, tourism, or innovation industries. It is intended to enhance foreign engagement and promote international partnerships, particularly with markets such as India, China, South Korea, the US, and Europe.
Vietnam's capital city, Ho Chi Minh City, Hanoi, and Da Nang are being advertised as lively, affordable, and culturally stimulating places with international schools, good housing, and a high standard of living for expatriates.
The government also simplified and digitalized visa processes for short-term tourists and business travelers, further increasing accessibility.
This project is taking place at a time when Vietnam is witnessing an economic boom and a rise in foreign arrivals. In the first quarter of 2025 alone, the nation received more than 7.67 million foreign tourists, up 23.8% compared to the same period last year. The government hopes to achieve 22 to 23 million foreign arrivals by the end of the year.
The golden visa program is likely to specifically attract Indian businesspeople, professionals, and digital nomads, with Vietnam's enhanced air connectivity, affordability, and increasing expat infrastructure.
The Vietnam Tourism Advisory Board has recommended pilot schemes in major cities and provinces, hoping that the new visa categories would be more liberal and attractive compared to existing investment visa schemes, which demand large financial outlays.
With this ambitious policy, Vietnam is set to become one of the premier destinations for international talent, investors, and long-term visitors alike, providing a mix of economic opportunity, cultural diversity, and urban living.
Sources: Euronews, Yahoo News, Business Today, Times of India, Gulf News, Financial Express, Nation Thailand
Follow WOWNEWS 24x7 on:
Copyright 2024 WOWNEWS 24x7. All rights reserved. The WOWNEWS 24x7 is not responsible for the content of external sites. Read about our approach to external linking.
Powered By Just Imagine
