Vietnam's 10-year Golden Visa

Why in the news?

• Vietnam announced a 10-year Golden Visa to attract Indian investors, tourists and digital workers.

Golden Visa:

Key Features:

• 10-year renewable residency
  • Long-term residency facility for foreign investors and skilled professionals.
  • The visa will be renewable, ensuring permanence.
• Promotion of economic and social contributions
  • The scheme is designed to attract people who contribute to tourism, innovation, and economic development.
• Digital-first application process
  • The visa application system will be based on a digital process in line with the current e-visa framework.
  • It is expected to bring transparency and quick processing.
• Eligibility criteria
  • The eligibility criteria have not been finalized yet.
  • People who potentially contribute to economic investment, technical skills, or innovation will get priority.

Vietnam:-

• Located in Southeast Asia
• Borders: China (north), Laos and Cambodia (west), South China Sea (east)
• Capital: Hanoi
• Largest city: Ho Chi Minh City (formerly Saigon)
• Currency: Vietnamese dong