Vietnam’s tourism body proposes 10-year Golden Visa to attract global talent, investors

In a proposal submitted to Prime Minister Pham Minh Chinh in March, TAB suggested the introduction of a “Vietnam Golden Visa” valid for five to 10 years and renewable, compared with the current one- to two-year visa options.

The visa would target affluent foreigners, retirees, investors and skilled talent, offering them a longer stay and potential benefits, including multiple entries, business investment opportunities, and a simplified residency pathway, VnExpress reported.

The board also recommended two additional visa categories: a 10-year Investor Visa, which would include a pathway to permanent residency after five years if investment levels are maintained, and a five-year Talent Visa with a simplified renewal process.

These options aim to make Vietnam more attractive compared to regional peers, Thanh Nien (Young People) newspaper noted.

TAB proposed piloting the new visa schemes in selected locations such as Phu Quoc Island, Ho Chi Minh City, Hanoi, and Da Nang, where infrastructure and services are more developed.

The proposal comes amid growing concerns that Vietnam risks falling behind regional competitors such as Thailand and Malaysia.

While Vietnam welcomed 17.6 million international visitors in 2024, approaching its pre-pandemic level of 18 million in 2019, Thailand and Malaysia have nearly returned to their pre-COVID targets.

Thailand has already received over 36 million visitors this year and offers a 10-year Long-Term Resident (LTR) visa for four categories of foreigners, along with other programs such as the Thailand Privilege and Smart Visa.

Malaysia, similarly, has revived its “Malaysia My Second Home” scheme.

In terms of visa liberalization, Vietnam currently exempts visas for citizens of 30 countries.

In comparison, Thailand has expanded visa exemption to 93 countries and offers visas on arrival to 31 nations, while Malaysia grants visa-free entry to 158 countries.

TAB said such long-term visa programs have proven effective in attracting talent and investment in countries such as Singapore, Thailand, and Malaysia.

The board called on the Vietnamese government to establish a joint public-private task force to study and reform visa policies aligned with Vietnam’s long-term economic growth goals.

Despite the ambition, experts also urged caution.

According to VnExpress, concerns have been raised over potential real estate inflation and misuse of the visa for money laundering.

Experts recommend stringent vetting criteria, such as asset thresholds, strong financial records, and proof of contribution to Vietnam’s economy or community development.

Vietnam’s Prime Minister has previously directed relevant ministries to review visa policies, particularly towards traditional partner countries and high-net-worth individuals, as part of a broader tourism development strategy.