DT4 Investment Visa (Capital under 3 Billion VND)

Vietnam DT4 Investment Visa Guide for US Citizens ### The DT4 visa is designed for foreign investors, including US citizens, who invest less than 3 billion VND (approx. 130,000 USD) into a Vietnamese business. Crucially, under the 2020 amendments to the Law on Foreigners' Entry into, Exit from, Transit through and Residence in Vietnam, DT4 visa holders are explicitly excluded from obtaining a Temporary Residence Card (TRC). This guide covers the limitations and processes for US investors. *** 1. Detailed Eligibility Requirements *** • Must establish a new company or purchase shares in an existing Vietnamese company. • Total capital contribution must be strictly under 3 billion VND. • Must possess a valid US passport with at least 12 months validity. • Must successfully obtain an Investment Registration Certificate (IRC) and Enterprise Registration Certificate (ERC) from the Department of Planning and Investment (DPI). *** 2. Pre-Application Lead Times *** • Gathering US documents (FBI background check, bank statements proving financial capacity): 2 to 4 weeks. • Consular legalization of US documents at the Vietnam Embassy in Washington DC: 1 to 2 weeks. • Total pre-application lead time: 3 to 6 weeks. *** 3. Step-by-Step Application Process *** • STEP 1: Legalize US documents (passport, bank statements) via the Vietnamese Embassy. • STEP 2: Apply for the IRC and ERC in Vietnam (usually via a local lawyer). This takes 4 to 6 weeks. • STEP 3: Once the company is formed, the company acts as your sponsor. • STEP 4: Submit the visa approval letter request (Form NA2) to the Vietnam Immigration Department. • STEP 5: Receive the approval letter and get the DT4 visa stamped at a Vietnam Embassy in the US or upon arrival at a Vietnamese international airport (using Form NA1). *** 4. Post-Arrival Mandates *** • Address Registration: Must register your residential address with the local ward police within 24 hours of arrival (usually done via the landlord on the national online portal). • Tax Registration: Must obtain a personal tax code (PIT code) if drawing a salary, though as an investor, you may only take dividends. • Business Compliance: Must ensure the pledged charter capital is fully transferred into the company's direct investment capital account (DICA) within 90 days of ERC issuance. *** 5. Required Documentation *** • Form NA1: Vietnamese Visa Application Form. • Form NA2: Request for pre-clearance visa approval. • Form NA16: Registration of the seal and signature of the legal representative. • Certified copies of the IRC and ERC. • Valid US Passport. • 2x2 inch passport photos. *** 6. Legal Nuances, Compliance Rules, & Tax Implications *** • TRC Exclusion: Unlike DT1, DT2, and DT3 visas, the DT4 visa maxes out at 12 months and does NOT grant TRC eligibility. You must renew the visa annually. • Dependents: Because you cannot get a TRC, your dependents (spouse/children) can only get TT or VR visas tied to your 1-year DT4 validity, making long-term schooling and residency cumbersome. • Taxation: Vietnam taxes residents (spending over 183 days per year in Vietnam) on worldwide income at progressive rates up to 35%. The DT4 does not exempt you from this. Dividends are subject to a 5% withholding tax. US citizens must also continue to file US taxes (FATCA applies, and FBAR must be filed for the Vietnamese DICA and corporate accounts if you have signature authority). *** 7. Renewal Conditions & Path to Citizenship *** • Renewal: The DT4 visa can be renewed annually as long as the business remains active, compliant, and the capital remains invested. • Path to Citizenship: Vietnam does not offer a realistic path to citizenship for investors. Dual citizenship is generally not recognized for naturalized citizens, and naturalization requires fluency in Vietnamese and 5 years of permanent residency (which is nearly impossible to get on a DT4). *** 8. Common Pitfalls & Edge Cases *** • Capital Injection Failure: Failing to inject the stated capital within 90 days of ERC issuance will result in heavy fines and visa cancellation. • Using a Tourist Visa to Work: Do not attempt to set up and run the business on a DL (tourist) visa. • TRC Misinformation: Many outdated sources claim all investors get a TRC. This is false post-2020. Small-scale US investors must be prepared for annual visa runs or renewals. • Nominee Structures: Using a local Vietnamese nominee to hold shares to avoid IRC requirements is illegal and highly risky.

Pre-Application Lead Times: Securing the Investment Registration Certificate (IRC) and Enterprise Registration Certificate (ERC) typically takes 4 to 6 weeks. This must be completed before applying for the DT4 visa. US police clearances (e.g., FBI background check) and bank statements must be notarized and authenticated, which can add 4 to 8 weeks to the timeline. Investors must also prepare bank statements proving they have the funds to inject the declared charter capital. ## Post-Arrival Mandates: Upon arrival, you must register your temporary residence with the local ward police within 24 hours (usually facilitated by your landlord). You are legally mandated to open a Direct Investment Capital Account (DICA) and inject the full registered charter capital within 90 days of the ERC issuance date. You must pay the annual business license tax, register for a tax identification number, and ensure monthly or quarterly tax filings are maintained by a local accountant. Crucially, unlike DT1, DT2, and DT3 visas, DT4 visa holders are not eligible for a Temporary Residence Card (TRC) and will operate on a standard visa valid for up to 12 months. ## Renewal Conditions & Path to Citizenship: The DT4 visa can be renewed annually. Successful renewal requires proof that the business is active, the charter capital was fully contributed on time, and all tax obligations are met. The DT4 visa does not lead to Permanent Residency. Vietnam's PR is exceptionally restrictive and generally reserved for spouses of Vietnamese citizens, scientists, or individuals with extraordinary contributions to the state. There is no viable path to Vietnamese citizenship through the DT4 investment pathway, as citizenship typically requires fluency in Vietnamese, a Vietnamese spouse, and renunciation of US citizenship, and is rarely granted to foreign investors.