Tax, economy, and demographics

Dimension	Hong Kong	Vietnam
Corporate income tax	16.5%Moderate	20%High
Corporate tax basis	Pure territorialPure territorial	WorldwideWorldwide
Personal income tax (marginal)	17%Low	35%Moderate
Personal tax basis	TerritorialTerritorial	WorldwideWorldwide
Population	7.5 M	102.2 M×14
Area	1,114 km²	331,212 km²×297
Population density	6,741 /km²	308 /km²
Capital	Hong Kong	Hanoi
Currency	HKD (Hong Kong dollar)	VND (Vietnamese dong)
Main airport	HKG (Hong Kong International Airport)	SGN (Tan Son Nhat International Airport)
Phone code	+852	+84
Internet TLD	.hk	.vn

Visa access controls

Your access

Pick your nationality above to see how long you can stay in each country and whether you need a visa.

Passport power

Mobility strength of each country's passport, useful if you are weighing it as a future citizenship.

Hong Kong passport

#13

Henley rank

174

Visa-free destinations

• Schengen visa-free
• UK visa-free
• Canada eTA
• Australia eTA

Vietnam passport

#85

Henley rank

48

Visa-free destinations

Verdict

For professionals who prioritize banking index, Hong Kong leads with 9.4 / 10 versus 5.0 / 10 for Vietnam. On affordability index, Vietnam is at 7.9 / 10 compared with 3.6 / 10 for Hong Kong.

Frequently asked questions

• Hong Kong

  Can foreign residents open bank accounts and deploy capital in Hong Kong without friction?

  Hong Kong has no foreign exchange controls. The Basic Law provides that the Hong Kong dollar is freely convertible and that the Government safeguards the free flow of capital within, into and out of Hong Kong. Friction in practice occurs not at the capital-control level but at the banking, AML, tax-reporting and product-access level. Hong Kong remains the leading offshore renminbi hub, processing consistently over 70% of global offshore RMB payments and holding around RMB 1 trillion in offshore RMB deposits and certificates of deposit according to HKMA and SWIFT data. Foreign residents open personal accounts with HSBC, Standard Chartered, Bank of China Hong Kong and Hang Seng Bank, or with one of the eight HKMA-licensed digital banks formerly designated as virtual banks under the revised HKMA Guideline of 25 October 2024, namely ZA Bank, Mox Bank, livi Bank, WeLab Bank, Airstar Bank, Ant Bank, Fusion Bank and PAOBank. Requirements vary by institution and risk profile. Banks request identity documents that may include a Hong Kong identity card or a travel document depending on the institution, address information, tax-residency self-certification under CRS/AEOI and FATCA documentation where applicable, plus source-of-funds or source-of-wealth evidence depending on the profile. Customer due diligence and ongoing monitoring are mandatory under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), and banks may apply additional group-level or foreign regulatory standards. Hong Kong is a FATF member and the 2019 FATF/APG mutual evaluation rated its AML/CFT system as sound and effective overall while identifying areas for improvement. Non-resident corporate account opening is selective and risk-based, with banks typically requesting beneficial ownership information, proof of business activity, expected transaction flows, source of funds and evidence of a commercial nexus with Hong Kong. Onboarding timelines vary materially with applicant status, nationality, tax profile and documentation quality, and are not standardised. Foreign nationals can purchase private residential property in Hong Kong. The Buyer's Stamp Duty (BSD), Special Stamp Duty (SSD) and New Residential Stamp Duty (NRSD) were abolished for instruments executed on or after 28 February 2024 under the Stamp Duty (Amendment) Ordinance 2024. Buyers remain subject to ad valorem stamp duty under Scale 2, with the HKD 100 lowest band raised from HKD 3M to HKD 4M with effect from 26 February 2025 under the Stamp Duty (Amendment) Ordinance 2025, and a graduated scale up to 4.25% above HKD 21,739,120. The Stamp Duty (Amendment) Bill 2026 was gazetted on 6 March 2026 and introduced into the Legislative Council on 18 March 2026 for first reading, proposing to raise the AVD rate on residential property valued above HKD 100M from 4.25% to 6.5% with retroactive effect from 26 February 2026. Pending enactment, the Inland Revenue Department continues to charge stamp duty at the prevailing 4.25% rate, with the difference between the rates becoming payable within 30 days of gazettal of the amendment ordinance once the bill is passed by the Legislative Council. The Securities and Futures Commission (SFC) regulates securities and futures market activity, with retail access to listed equities, ETFs, REITs, debt securities, structured products, futures and options through regulated channels. OTC derivatives are subject to a dedicated HKMA/SFC reporting, clearing, trading and record-keeping regime, while access to complex, structured or non-listed products remains governed by licensing, conduct, suitability and, in many cases, professional-investor constraints. Crypto access is regulated under a dual licensing framework, with SFC Type 1 and Type 7 licences under the Securities and Futures Ordinance for security tokens and a VATP licence under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance for non-security tokens. Since 1 June 2023, retail access to virtual assets has been legally possible through SFC-licensed VATPs, subject to SFC investor-protection measures, large-cap token eligibility restrictions and platform-specific approvals, with the SFC maintaining an official list of licensed VATPs. The inward Company Re-domiciliation Regime was put in place by the Companies (Amendment) (No. 2) Ordinance 2025, gazetted on 23 May 2025, and allows eligible non-Hong Kong incorporated companies to transfer domicile to Hong Kong without creating a new legal entity and without disrupting legal identity or business continuity. Unilateral tax credits under Schedule 17L of the Inland Revenue Ordinance are available where a re-domiciled company has paid, in its place of incorporation, a tax of substantially the same nature as Hong Kong profits tax on unrealised income or profit because of the re-domiciliation and Hong Kong profits tax later applies to the corresponding realised income or profit, with the credit capped at the lower of the specified tax paid or the Hong Kong profits tax payable on the relevant income.

• Vietnam

  Can foreign residents open bank accounts and deploy capital in Vietnam without friction?

  The State Bank of Vietnam (SBV) regulates the banking sector under the Law on Credit Institutions 2024 (Law No. 32/2024/QH15). Major domestic retail banks include Vietcombank (Joint Stock Commercial Bank for Foreign Trade), VietinBank, BIDV, Agribank, MB Bank, Techcombank, VPBank, and ACB. Foreign-incorporated banks operate through licensed subsidiaries or branches, with HSBC Vietnam, Standard Chartered, Shinhan Bank Vietnam, and United Overseas Bank (UOB) active in retail. ANZ exited retail banking in Vietnam after selling its retail business to Shinhan Bank Vietnam in 2017 and now maintains only an institutional and corporate presence. The baseline account-opening requirement for a foreign individual is a valid passport together with a valid visa or residence document such as a Temporary Residence Card (TRC). Banks may additionally request a local address, proof of income, source-of-funds documentation, and in-person biometric verification depending on the account type, residency status, and anti-money laundering risk profile. Account-opening lead times are bank-specific rather than set by regulation and vary widely between institutions and customer segments. Vietnam implements the United States Foreign Account Tax Compliance Act (FATCA) through a Model 1 Intergovernmental Agreement (IGA) signed on April 1, 2016 and in force since July 7, 2016, under which Vietnamese financial institutions report United States account holders to the local authority for onward exchange. Vietnam is not a participating jurisdiction under the Common Reporting Standard (CRS) and has not commenced automatic exchange of individual financial account information, although it joined the Multilateral Convention on Mutual Administrative Assistance in Tax Matters in 2023 and signed the country-by-country reporting Multilateral Competent Authority Agreement in January 2025 for corporate group reporting. The Financial Action Task Force (FATF) placed Vietnam on its list of jurisdictions under increased monitoring, commonly called the grey list, in June 2023 over anti-money laundering deficiencies, and Vietnam remained listed at the February 2026 FATF plenary, with remediation under the Anti-Money Laundering Law 2022 (Law No. 14/2022/QH15) ongoing. Vietnam maintains active foreign exchange controls under Ordinance 28/2005/PL-UBTVQH11 as amended. The Vietnamese dong is not freely convertible, and foreign currency may be held in onshore accounts but used within Vietnam only in permitted cases. Foreign residents may operate foreign-currency accounts and remit lawful post-tax income abroad through licensed banks against supporting documents, while foreign investors may repatriate lawful profits and recovered capital from direct investment through dedicated capital accounts. Circular 20/2022/TT-NHNN governs one-way outward transfers and current-account payments, but its personal transfer categories such as study, medical treatment, support for relatives, inheritance, and settlement abroad are framed under Article 7.2 of Decree 70/2014/ND-CP around residents who are Vietnamese citizens rather than foreign residents generally, so it should not be read as the universal outbound regime for all foreign individuals. The International Financial Center (IFC) regime under Resolution 222/2025/QH15 adds a targeted carve-out for IFC members, including freer use of foreign currencies between IFC members and simplified capital flows, which is not a general liberalization of the capital account for all foreign residents. Foreign investors face restrictions on real estate. Foreign individuals may purchase apartment units in eligible commercial housing developments capped at 30 percent of any one building and 250 landed houses per ward-equivalent area, with ownership rights generally limited to 50 years and renewable once for up to 50 more years subject to provincial People's Committee approval rather than automatic renewal. Land remains under all-people ownership administered by the State and cannot be held freehold by foreigners, and agricultural land is closed to foreign ownership. On digital assets, Law No. 71/2025/QH15 on Digital Technology Industry, effective January 1, 2026, recognizes crypto assets as property that can be owned, traded, and inherited, ending years of legal ambiguity, while cryptocurrency remains barred as a means of payment and is not legal tender. A controlled five-year pilot under Resolution 05/2025/NQ-CP running from 2025 to 2030 governs issuance, trading, and supervision, with all crypto trading and settlement denominated in Vietnamese dong, and the Ministry of Finance began accepting licence applications from Vietnamese crypto service providers in January 2026.

• Hong Kong

  How does taxation apply to residents and foreign-source income in Hong Kong?

  Hong Kong applies a territorial source principle for both individuals and corporations. Salaries tax under the Inland Revenue Ordinance Cap. 112 covers only employment income arising in or derived from Hong Kong, irrespective of residency status. Tax residency itself does not trigger worldwide taxation. Salaries tax progresses from 2% to 17% on net chargeable income, capped at the two-tiered standard rate of 15% on the first HKD 5M of net income and 16% above without allowances, effective from year of assessment 2024/25 under the Inland Revenue (Amendment) (Tax Concessions and Two-tiered Standard Rates) Ordinance 2024. The taxpayer pays the lower of the two computations. There is no capital gains tax, no dividend tax, no inheritance tax (estate duty abolished 11 February 2006), no general value-added tax. Mandatory MPF contributions are 5% of relevant income capped at HKD 1,500 per month. Profits tax operates on a two-tiered basis since 1 April 2018 (sections 14AA-14AB IRO). Corporations pay 8.25% on the first HKD 2M of assessable profits and 16.5% above, unincorporated businesses pay 7.5% and 15%. Only one entity per group of connected entities can elect the two-tiered rates per year of assessment. Major sectoral concessionary regimes apply. 0% profits tax on eligible carried interest received by qualifying persons and a 100% salaries tax exclusion for qualifying employees providing investment management services to certified investment funds under the Inland Revenue (Amendment) (Tax Concessions for Carried Interest) Ordinance 2021, retroactive from 1 April 2020. 5% Patent Box rate on qualifying IP income with OECD nexus computation, effective YA 2023/24 and gazetted 5 July 2024, with a local registration requirement effective 5 July 2026 imposing that foreign patents and plant variety rights filed on or after that date require corresponding Hong Kong registration under the Patents Ordinance Cap. 514 to remain eligible. The Family-owned Investment Holding Vehicle (FIHV) regime grants 0% profits tax under Schedule 16E IRO (effective YA 2022/23) on qualifying transactions, requiring HKD 240M qualifying assets at family level, an eligible Single Family Office in Hong Kong with at least 2 full-time qualified employees and HKD 2M annual local operating expenditure. The 2026-27 Budget (25 February 2026) proposed expanding FIHV, Unified Funds Exemption (UFE) and Carried Interest qualifying investments to digital assets, precious metals, specified commodities, loan and private credit investments, and other assets, with the amendment bill expected in the first half of 2026 and targeted implementation from YA 2025/26 subject to LegCo passage. Other corporate concessions cover aircraft and ship leasing, treasury management and fund vehicles. An 8.25% concessionary rate applies to qualifying profits of aircraft lessors and aircraft leasing managers under Schedule 17F IRO, with a one-off 100% deduction of aircraft acquisition cost replacing the prior 20% tax base concession for aircraft acquired in YA 2023/24 or later under the Inland Revenue (Amendment) (Aircraft Leasing Tax Concessions) Ordinance 2024. 0% applies to qualifying ship lessors and 0% or 8.25% to ship leasing managers depending on whether the lessor is associated or non-associated (effective 19 June 2020). An 8.25% Corporate Treasury Centre rate applies under section 14D IRO since 1 April 2016. The full 0% Unified Funds Exemption regime covers hedge funds, OFCs and Limited Partnership Funds for qualifying transactions in Schedule 16C assets (effective 1 April 2019, sections 20AM to 20AY IRO). The Onshore Equity Disposal Tax Certainty Scheme treats onshore equity disposal gains as capital in nature where an eligible investor entity has held at least 15% of the investee entity for a continuous period of at least 24 months immediately before disposal, subject to exclusions for insurers and certain property-related investee entities (effective 1 January 2024). Since 1 January 2023 (further refined 1 January 2024), the FSIE regime restricts the territorial exemption for in-scope MNE entities on offshore interest, dividends, IP income and disposal gains, requiring economic substance, nexus or participation conditions. A 15% Hong Kong Minimum Top-up Tax (HKMTT), the Qualified Domestic Minimum Top-up Tax under OECD Pillar Two, applies to MNE groups with consolidated revenue of EUR 750M or above for fiscal years beginning on or after 1 January 2025 under the Inland Revenue (Amendment) (Minimum Tax for Multinational Enterprise Groups) Ordinance 2025 gazetted 6 June 2025. Hong Kong has obtained OECD transitional qualified status from 1 January 2025 and operates a Pillar Two Portal for top-up tax notifications. R&D super deduction at 300% on the first HKD 2M and 200% on the balance applies under section 16B IRO. Hong Kong has signed 57 comprehensive double taxation agreements as at March 2026, distinct from the People Republic of China DTA network.

• Vietnam

  How does taxation apply to residents and foreign-source income in Vietnam?

  Vietnam taxes individual tax residents on their worldwide income, while non-residents are taxed only on Vietnam-source income. Tax residency for individuals arises after 183 days of presence in a calendar year, or with a permanent residence in Vietnam, or with a leased accommodation for at least 183 days under Circular 111/2013/TT-BTC. Residents are taxed on worldwide employment income at a progressive scale topping at 35%. The current 7-bracket schedule (5/10/15/20/25/30/35%) triggers the top rate above VND 80 million per month. Personal Income Tax (PIT) Law No. 109/2025/QH15, passed December 10, 2025 and effective July 1, 2026 with employment provisions applying from tax year 2026, simplifies the schedule to 5 brackets (5/10/20/30/35%) and raises the top-rate threshold to VND 100 million per month. The same law raises the personal deduction from VND 11 million to VND 15.5 million per month and the dependent deduction from VND 4.4 million to VND 6.2 million per month. Non-residents pay a flat 20% on Vietnam-source employment income only. Securities transfers such as shares are taxed at 0.1% of the transfer price, while transfers of capital contributions are taxed at 20% on the net gain, or 2% of the transfer price where the acquisition cost and related expenses cannot be determined. Vietnam levies no net wealth tax and has no separate estate or inheritance tax, but inheritances and gifts of covered assets are taxable under personal income tax at a flat 10% on the portion above VND 10 million, rising to VND 20 million under the new law, with transfers between close family members exempt. The double tax treaty network covers approximately 80 jurisdictions including most OECD members and major Asian economies. Vietnamese-incorporated enterprises are subject to corporate income tax (CIT) on their worldwide income, with a credit for foreign tax paid, while foreign enterprises are taxed on Vietnam-source income. The standard CIT rate is 20% under Article 10 of Law No. 67/2025/QH15 on Corporate Income Tax (effective October 1, 2025), with two reduced tiers for smaller companies of 15% (annual revenue under VND 3 billion) and 17% (revenue VND 3 to 50 billion). Article 13 grants a preferential 10% CIT rate for 15 years to new investment projects in priority sectors (high technology, research and development, software production, renewable energy, supporting industries, education, healthcare, environmental services, infrastructure, press agencies) or in extremely difficult socio-economic areas, hi-tech parks, high-tech agricultural zones, and centralized information technology zones. The 17% rate for 10 years applies to qualifying projects in standard difficult areas and selected manufacturing. Article 14 layers a 4-year exemption plus 50% reduction over 9 years on top of the 10% rate, producing 0% effective in years 1 to 4 and 5% in years 5 to 13. The Prime Minister may extend the preferential period by up to 15 additional years for strategic projects. Standard industrial parks are no longer incentivized locations in their own right under the 2025 Law, so a new project located in one qualifies for CIT incentives only if it independently meets a sector-based, project-based, or preferential-area criterion. The Vietnam International Financial Center (IFC), established under Resolution No. 222/2025/QH15 effective September 1, 2025 and detailed by Decree No. 323/2025/ND-CP on establishment and Decree No. 324/2025/ND-CP on financial policies (both dated December 18, 2025), offers IFC members in Ho Chi Minh City and Da Nang a 10% CIT rate for 30 years with the same 4-year exemption plus 9-year reduction architecture. It also provides a personal income tax exemption through end of 2030 on salaries and wages earned from work performed in the IFC by qualifying managers, experts, scientists, and highly skilled professionals, both Vietnamese and foreign, subject to prescribed conditions, plus a personal income tax exemption on income from transfers of shares, capital contributions, or capital contribution rights in IFC members through end of 2030, excluding transfers of stocks or warrants of public companies or listed or trading-registering organizations. Eligible sectors include capital markets, banking, asset and fund management, fintech, green finance, digital assets, insurance, family offices, and aviation finance. Resolution No. 107/2023/QH15 implements the OECD Pillar Two Qualified Domestic Minimum Top-up Tax (QDMTT) effective January 1, 2024, which can materially reduce the benefit of Vietnam's 10% headline incentive rates for in-scope multinational enterprise (MNE) groups with consolidated revenues above EUR 750 million in 2 of 4 preceding years, because a domestic top-up tax applies where the Vietnam effective tax rate falls below 15%.

• Hong Kong

  What long-term residence options exist in Hong Kong for internationally mobile individuals?

  Hong Kong operates a structured set of admission schemes administered by the Immigration Department under the Immigration Ordinance Cap. 115. The Top Talent Pass Scheme (TTPS), launched 28 December 2022, accepts three categories without prior job offer. Category A targets annual income of HKD 2.5M or above (defined by the Immigration Department as taxable employment or business income), with a 36-month initial stay in effect from 16 October 2024 (previously 24 months). Category B covers degree graduates of eligible universities on the aggregate list (200 institutions effective 1 January 2026, up from 199) with at least 3 years of work experience, 24 months initial stay. Category C targets recent graduates with under 3 years of experience and is subject to an annual quota allocated on a first-come first-served basis. TTPS does not apply to nationals of Afghanistan, Cuba and Korea (DPRK). The Quality Migrant Admission Scheme (QMAS) had its General Points Test (GPT) enhanced with effect from 1 November 2024, replacing the prior item-by-item scoring (245 points maximum, 80 passing threshold) with a binary assessment questionnaire of 12 criteria across six aspects (age, academic qualifications, language proficiency, work experience, annual income, business ownership), with a passing threshold of 6 criteria. No annual quota under the enhanced GPT, 36 months initial stay. The General Employment Policy (GEP) is the standard employer-sponsored route, quota-free, with streamlined processing for the 60 professions of the Talent List updated 1 March 2025. The Admission Scheme for Mainland Talents and Professionals (ASMTP) broadly mirrors GEP for Chinese nationals residing in the Mainland. The Technology Talent Admission Scheme (TechTAS) operates through quotas allocated to sponsoring companies by the Innovation and Technology Commission, with each company normally allotted up to 100 quotas per year. Following the enhancement measures effective 24 December 2025, the requirement to engage in R&D in the previously designated 14 technology areas was lifted, and a parallel quota plus visa application procedure was introduced. Initial stay of 36 months on employment condition. The New Capital Investment Entrant Scheme (New CIES), effective 1 March 2024, requires HKD 30M minimum, of which HKD 27M in permissible financial assets or eligible real estate, plus HKD 3M placed in the CIES Investment Portfolio managed by Hong Kong Investment Corporation Limited. Effective 17 September 2025, the aggregate real estate cap was raised from HKD 10M to HKD 15M, but the countable residential property amount remains capped at HKD 10M and the qualifying single residential unit transaction price was lowered from HKD 50M to HKD 30M. The 1 March 2025 reform allows investments held through a Family-owned Investment Holding Vehicle or Family-owned Special Purpose Entity managed by an eligible Single Family Office (assets of HKD 240M or above under Schedule 16E of the Inland Revenue Ordinance). The 1 March 2026 update removed the six-month minimum incorporation period for the eligible private holding company, allowing applicants to use recently incorporated vehicles for asset allocation. Cumulative metrics as at 28 February 2026: approximately 3,166 applications received with anticipated investment of about HKD 95Bn, of which 1,762 applicants have completed their investments and received formal approval. Initial stay of 24 months, extensions of up to three years renewable subject to portfolio maintenance. Investment as Entrepreneurs (under the GEP framework) requires a detailed business plan covering source of funds, expected turnover and local job creation in the coming years, with no statutory minimum capital. The Admission Scheme for the Second Generation of Chinese Hong Kong Permanent Residents (ASSG) targets overseas-born applicants aged 18 to 40 with at least one parent holding a valid Hong Kong Permanent Identity Card and who was a Chinese national settled overseas at the time of the applicant's birth. The Immigration Arrangements for Non-local Graduates (IANG) grant 24 months to graduates of full-time locally-accredited Hong Kong programmes or Greater Bay Area campus graduates, with extension on a 3-3 year pattern. The Vocational Professionals Admission Scheme (VPAS) is a pilot covering 34 VTC Higher Diploma programmes across 12 trades for 2025-26 (13 trades from 2026-27), with first applications opening upon graduation of the inaugural cohort in mid-2026, excluding nationals of Afghanistan, Cuba, Laos, Korea (DPRK), Nepal and Vietnam. The Working Holiday Scheme covers 13 partner countries for nationals aged 18 to 30 (Australia 5,000, Japan 1,500, UK 1,000, Korea 1,000, France 750, Germany 300, Sweden 500, New Zealand 400, Canada 193, Hungary 200, Ireland 200, Austria 100, Netherlands 100), single-use, 12 months, not normally renewable. All pathways converge on a seven-year continuous ordinary residence requirement to apply for right of abode, which is not automatic. For New CIES entrants specifically, maintaining the financial requirements throughout seven years does not by itself confer permanent residence. Where the continuous ordinary residence test is not satisfied, applicants may seek unconditional stay after the seventh year. The Top-tier Employment Stream grants an extension on time limitation only after 2 years of stay and HKD 2M annual assessable income for salaries tax. Duration varies by scheme of origin, with 6 years under TTPS, IANG and ASSG, and 5 years under GEP, ASMTP, QMAS and TechTAS. From 1 March 2026, the extension filing window expanded from 4 weeks to 3 months before expiry of stay across GEP, ASMTP, TechTAS, IANG, QMAS and ASSG, with TTPS already aligned since 1 November 2024.

• Vietnam

  What long-term residence options exist in Vietnam for internationally mobile individuals?

  Vietnam offers a tiered investor visa system under Law No. 47/2014/QH13 (as amended by Law No. 51/2019/QH14 and Law No. 23/2023/QH15) with four DT categories indexed on capital contribution. The DT1 visa (capital of VND 100 billion or more) carries a 5-year visa term and a Temporary Residence Card (TRC) up to 10 years. DT2 (VND 50 billion to under 100 billion) grants a 5-year visa and a TRC up to 5 years. DT3 (VND 3 billion to under 50 billion) grants a 3-year visa and a TRC up to 3 years. The DT4 tier (under VND 3 billion) is limited to a 12-month visa with no investor TRC eligibility and no family sponsorship rights. DT1, DT2, and DT3 holders may sponsor spouses and minor children under 18 for TT (Tham Than) dependent visas under Article 8 of the Immigration Law, while common-law partners and adult children are excluded. Work-based pathways include the LD1 visa (work permit exempt) and the LD2 visa (work permit holders), both valid up to 2 years and convertible to a TRC up to 2 years. The governing framework is now Decree 219/2025/ND-CP, effective August 7, 2025, which replaced Decree 152/2020/ND-CP and Decree 70/2023/ND-CP, merged the foreign labour demand approval and the work permit application into a single online dossier, decentralized approval to provincial People's Committees, and shortened the statutory work permit timeline to 10 working days. It did not merge the work permit with the visa application, which remain separate steps. Foreign lawyers practicing in Vietnam under the Law on Lawyers obtain the LS visa with a 5-year term. The Special Visa Exemption Card (SVEC) under Decree 221/2025/ND-CP, in force from August 15, 2025, is a multi-entry waiver of up to 5 years capped at 90 days per stay per entry, reserved for international elites including executives of the world top 100 enterprises by market capitalization, holders of prestigious international science and technology awards, and globally top-ranked athletes. From July 1, 2026, under Law No. 118/2025/QH15, two preferential visa symbols become available, the UD1 for high-quality digital technology industry personnel and other persons eligible for incentives under a law or a National Assembly resolution, and the UD2 for their spouses and children under 18. Under the general regime, amended Article 9 caps the UD1 and UD2 visa at 5 years, while amended Article 38 sets the matching UD1 and UD2 Temporary Residence Card at up to 10 years, the same ceiling as the DT1 investor card. Within the Vietnam International Financial Centre (IFC), Decree 327/2025/ND-CP lets the UD1 visa itself reach 10 years rather than the general 5-year visa cap, with a UD1 TRC up to 10 years and a matching UD2 for spouses and children under 18, for key investors, experts, managers, and highly skilled staff of IFC-headquartered organizations. Outside the IFC framework, Vietnam offers no general DT investor pathway to permanent residence. The Permanent Residence Card (PRC) under Article 39 of Law 47/2014 is restricted to four narrow categories, namely meritorious persons recognized by State decoration, scientists or experts sponsored by ministerial-level authority, spouses or children or parents of Vietnamese citizens with at least 3 years of continuous residence, and stateless persons resident since 2000, with a 10-year renewable validity. Decree 327/2025/ND-CP introduces a separate IFC-specific permanent residence route for key investors, experts, scientists, persons of special talent and senior managers who have worked continuously for at least 3 years at an organization headquartered in the IFC. On nationality, Law No. 79/2025/QH15, effective July 1, 2025, broadened the dual citizenship exceptions beyond the prior near-total prohibition. Retention of foreign nationality on naturalization is now possible for applicants with a Vietnamese spouse, child, parent or grandparent, for those making meritorious contributions or whose naturalization is deemed beneficial to Vietnam, and for minors naturalizing alongside a parent, in each case subject to Presidential approval and compliance with the law of the foreign country. A separate 10-year Investor Golden Visa announced in May 2025 remains under government review and is not yet enacted as of May 2026, with no draft law published and no application channel open.

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