Vietnam Is Introducing a 10-Year Golden Visa
Travelers who are interested in living among Vietnam's tropical rainforests, bustling street food scenes, and ornate pagodas will be glad to know the Southeast Asian nation is introducing a new golden visa program.
The Vietnam Tourism Advisory Board has made a recommendation to the government that the new program have three tiers, according to a report in Financial Express. The first tier is a golden visa, offering a stay of 5 to 10 years with the possibility to then extend for a longer period. The second option is an investor visa, also valid for 10 years, with the option to start the process of becoming a permanent resident after 5 years. The third is a talent visa, which is aimed toward professionals in specific fields and lasts five years with an easy renewal process.
The exact eligibility requirements for each of the three new visas have yet to be released. And although applications haven't opened yet, the entire process is expected to be digital, simplifying the paperwork and eliminating the need to visit an embassy in person.
Golden visa programs are typically launched to bring more investors and professional expertise to a nation's borders in order to stimulate its economy. Currently, Vietnam has a strong and fast-growing economy, one it is looking to expand even further. The nation has transformed 'from one of the world's poorest countries to a middle-income economy in a single generation,' according to the World Bank. This means it's an attractive place for high-net-worth investors. The country also 'aspires to become a high-income country by 2045,' the World Bank says.
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