Job Discussion Forums

[elliot_spencer]

Hello everyone

Does anyone know ıf Vıetnam has a permanent resıdency programme for people who are not ınvestors or who are not married?

Thanks

[RustyShackleford]

Quoting from the relevant law:

Article 13, item 1 states that a temporary resident in Vietnam falling within one of the following categories shall be considered for permanent residency:
1. A person who fights for the freedom and independence of the Vietnamese race, for socialism, for democracy and peace and for science but who is suppressed
2. A person with distinguished services contributing to the work of building and protecting the Vietnamese Fatherland
3. A person being the spouse, child or parent of a Vietnamese citizen residing permanently in Vietnam.

So unless you get adopted by a Vietnamese family, get married or have had some involvement in the revolution, you're looking down a bleak road. Even the marriage road I've heard is, in practice, a whole lot of red tape.

[legionlabs]

I'm currently finishing up the investment road, red tape is not so bad. In case you're curious:

You need to purchase (using foreign funds) at least 5% of a company that allows foreign investment capital, and you have to be on the investment certificate. Negotiating this is the hard part, although it doesn't have to be expensive (e.g. sweat equity at startups plus $1 actual investment).

Then for about USD 600, a decent lawyer will sort out the rest or you.

No medical exam, and some types of criminal history permitted (I don't have one myself but saw other successful applications). No degree requirements. You're also work-permit exempt as long as you're working for the company you invested in. With the company license laws loosening up July-ish (probably), you can effectively subcontract yourself out to do stuff.

I did this legitimately, but I also see a dozen ways this can be abused if you've got the money.

I guess like most countries, you get residency through work, investment, or marriage. Otherwise I guess a fair question is 'What's in it for them?'

[TRH]

I have been told that Rusty's #3 is like a lot of laws in Vietnam. It is on the books but if you apply for it you will be told it is not available.

Ironically I read an item on the web recently about how the US program ($500,000) essentially lets Chinese millionaires jump the immigration line. There are also some Caribbean countries where one can buy citizenship for a fee and these countries have free entry to the US. I can't condemn the OP for his plan ,knowing how difficult VN can make things. However, although I personally favor less restrictive immigration policies in either direction having gone through the process for my wife, visas for money strike me the wrong way.

[TRH]

[spycatcher reincarnated]

Unless taxes have changed in the last couple of years then this is still true:

If you have your individual name as a shareholder in a foreign owned business then when profits are transferred to you, 5% withholding tax is deducted before you receive it.

If it is owned by an offshore company (BVI, Cayman Islands, etc. ) which you own then no tax is deducted.

Looks like it could be expensive to get citizenship this way.