A foreigner who has contributed capital to an enterprise in Vietnam can be sponsored by that enterprise for an investor (DT) visa and, if the contribution reaches the DT3 floor or above, an investor temporary residence card. The tier, DT1, DT2 or DT3, depends mainly on the amount of capital contributed and in some cases on whether the project is in a sector or area that receives investment incentives. The card holder must be recorded as a capital contributor or shareholder, and the capital must have actually been contributed through proper channels. Below the DT3 floor, investors receive a DT4 visa but no card.
Investor residence attracts people who want to run their own business in Vietnam, from a design studio in Hanoi to a homestay in Da Lat. It also attracts misunderstandings, most of them about what counts as investing and what the paperwork must show. This guide explains the investor route in principle. It is not investment advice, and company law, foreign investment rules and immigration practice all change; work with a qualified lawyer or accountant and confirm with the immigration authorities.
What makes you an investor in the eyes of immigration
Immigration officers look at the enterprise's legal documents, not at your business plan. To be treated as an investor, you need to appear in the enterprise's registration records as a member, owner or shareholder, with a stated capital contribution. For a company set up by foreigners, this typically involves an Investment Registration Certificate for the project and an Enterprise Registration Certificate for the company, though some structures, such as buying into an existing Vietnamese company, follow a different procedure.
The capital must be real. Foreign investors normally contribute through a dedicated direct investment capital account opened at a licensed bank, and the contribution must be completed within the deadline set by company law, commonly cited as 90 days from the issue of the enterprise registration certificate for newly formed companies. Immigration and tax authorities may look for evidence that the money arrived and was booked as charter capital, not merely that a figure was written on a form.
Roles matter too. A person who manages the company but is not recorded as a contributor is an employee for immigration purposes, even if they are the founder's spouse or business partner. They would usually need a work basis, or a family basis through the investor, rather than an investor card of their own.
Investors who buy shares in an existing Vietnamese company face an extra step. The purchase may need approval or registration as a capital contribution by a foreign investor, depending on the company's sector and the size of the foreign stake, before the change appears in the company's records. Only once the records show the foreigner as a contributor does the investor basis exist for immigration purposes. Ask your lawyer to confirm the order of these steps before money changes hands.
The investor tiers in principle
The bands below are those introduced by the 2019 amendments to the immigration law and commonly cited since. They are legal thresholds for residence purposes, not a suggestion of how much anyone should invest. Confirm the current wording before relying on them.
| Tier | Commonly cited basis | Card available? | Commonly cited maximum card term |
|---|---|---|---|
| DT1 | Contribution of 100 billion dong or more, or investment in sectors or areas eligible for special incentives | Yes | Up to 10 years |
| DT2 | Contribution from 50 billion to under 100 billion dong, or investment in encouraged sectors | Yes | Up to 5 years |
| DT3 | Contribution from 3 billion to under 50 billion dong | Yes | Up to 3 years |
| DT4 | Contribution below 3 billion dong | No; visa only | Visa of up to 12 months |
Two practical notes follow from the table. First, many small owner-run businesses fall into DT4, so their owners renew visas rather than hold cards. Second, the card is also capped by passport validity, so a DT1 investor with a passport expiring in three years will not receive a ten-year card.
A typical path from company to card
The order matters, because each stage depends on documents from the one before.
- Take legal advice on structure. Whether you set up a new company, buy into an existing one, or open a branch affects which licences are needed and how long the process takes. Some sectors have conditions or are restricted for foreign investors.
- Obtain the investment and enterprise registrations. These establish the project and the company, and record you as an investor with a stated contribution.
- Open the capital account and contribute. Transfer the capital through the proper account within the legal deadline and keep the bank records.
- Register the company with immigration. As a new sponsor, the company submits its legal status documents and the signature and seal of its legal representative.
- Obtain or convert to a DT visa. If you entered on an e-visa or another symbol, the company can request an investor visa, or conversion where allowed.
- Declare your address and apply for the card. The company files the request letter with your declaration, passport and the investment documents.
- Sponsor your family. Your spouse and children under 18 can then be sponsored for TT cards through the company.
Investor card or work card: which fits your situation?
Some foreigners can choose between two bases. A founder who owns part of a company and also works in it might be sponsored as an investor or, in some structures, as an employee of the company with a work permit or exemption. The choice is not merely technical. An investor card rests on the size and reality of the capital contribution and on the enterprise continuing to exist. A work card rests on an employment relationship and a work permit, which must be renewed on its own cycle.
For investors in the DT1 and DT2 bands, the longer card terms are a clear advantage. For a small owner whose contribution sits just above the DT3 floor, the difference between an investor card and a work card may be modest, and the decision may turn on tax, the company's structure and how the owner's role is described in its documents. For an owner below the DT3 floor, a work basis may be the only way to hold a card at all, provided the company genuinely employs them and the work permit rules are met.
The safest approach is to decide the structure with an adviser before registering the company, because changing the recorded capital or roles afterwards is slower and leaves a paper trail that immigration officers will read.
Pitfalls that catch small investors
Capital written but not contributed. A charter capital figure that was never transferred, or only partly transferred, can cause trouble at the first audit, tax review or card renewal. If the capital is later reduced, the investor tier may change too.
Expecting a card at DT4 level. Owners of small cafés, guesthouses and online shops often register modest capital and are then surprised that no card is available. Decide early whether a visa-based life is acceptable or whether another basis fits better.
A company that does not trade. Immigration renewals may look at whether the enterprise is actually operating and meeting its tax and reporting obligations. A shell company kept alive only for residence is fragile and may be treated as such.
Nominee arrangements. Putting a business, or a property, in a Vietnamese friend's name to get around foreign investment rules is risky and can leave you without legal protection or residence basis. Do not rely on such arrangements.
Working without clarity. Owners often manage the business day to day. Whether an owner also needs a work permit, or is exempt under the labour rules for capital contributors, depends on the company type, the contribution and the role. Ask the labour authority or an adviser rather than assume.
A hypothetical example: from idea to card
To make the sequence concrete, imagine a foreign couple who want to open a small coffee roastery and tasting room in Da Lat, which since 2025 sits within the enlarged Lam Dong province. They take advice and set up a limited liability company with one of them recorded as the sole capital contributor. Their lawyer checks whether the business lines they want are open to foreign investors and what conditions apply to food and beverage activities.
After the investment and enterprise registrations are issued, the contributor opens a direct investment capital account and transfers the capital within the legal deadline. Because the amount they plan to contribute falls within the DT3 band, the company can sponsor an investor card once it has registered with the immigration authorities. The contributor converts from an e-visa to a DT3 visa, their landlord declares their address, and the company files for the card. The spouse, not recorded as an owner, is sponsored on TT as a family member.
Had the couple registered a much smaller capital, the owner would have qualified only for a DT4 visa, and they would have had to decide whether a visa-based life was acceptable. The example is illustrative only; the right structure for any real business depends on facts and current rules that an adviser must check.
Keeping an investor card in good standing
An investor card is only as healthy as the company behind it. Keep the enterprise registration up to date when you change address, business lines or legal representative; file tax returns and financial statements on time; and keep the capital account records safe. When renewal comes, the immigration office will want to see that the investment still exists in the form described on your card.
Plan for change as well. If you sell your stake, bring in a new partner or restructure, your investor basis may change or disappear. Talk to your lawyer about the immigration consequences before signing, not after. Investors who exit while keeping their cards can find themselves in an awkward position at the next border crossing.
Finally, remember what the card is not. It is not a licence to do business in any sector, not a right to buy land, and not a step that automatically leads to permanent residence. It is a residence status that follows a real, registered investment. Treat it that way and it tends to be one of the more stable long-term routes.
Câu hỏi thường gặp
What is the minimum investment for a TRC in Vietnam?
Under the bands introduced in 2019, a residence card is available from the DT3 tier, commonly cited as a capital contribution of 3 billion dong or more. Below that, investors receive a DT4 visa but no card. Confirm the current thresholds with the immigration authorities or a lawyer before structuring an investment around them.
Can I get an investor TRC by buying an apartment?
No. Buying a home is not an investment in an enterprise for immigration purposes. What foreigners may own is governed by the Housing Law, and ownership does not create a residence basis. An investor card requires capital contributed to a registered business.
Does my investor card let me run my own company?
It lets you reside as the company's investor. Whether you also need a work permit to manage it depends on your role, company type and contribution under the labour rules. Many owners are exempt, but the exemption may need confirmation. Check with the provincial labour authority or an adviser.
Can my family get residence through my investor card?
Yes. As a DT1, DT2 or DT3 card holder, your legally married spouse and children under 18 can usually be sponsored by your company for TT visas and cards, with terms that fit within your own card.
What happens if I sell my shares?
Your investor basis depends on being a recorded contributor. If you sell or reduce your stake, the basis may change or end, and the company should inform the immigration authorities. Discuss the immigration consequences with your lawyer before the transaction.
Is a DT4 visa enough to live in Vietnam?
Some small investors do live on DT4 visas, renewing as allowed. It is a lawful status, but it does not bring a card, and each renewal depends on the business continuing to operate. Weigh whether that level of certainty suits your plans.