The question that “Do Investors are required to obtain Work Permit?” is concerned by many companies. Therefore, Visa Oriental will answer all questions about the procedures of applying for Work Permit for Investor from other countries. Let’s find out these through this article
Who are Investors?
Foreigners are investors if they establish their own company in Vietnam or contribute capital to a company in Vietnam. Many people confuse the position of investor and legal representative.
The legal representative can be the director or chairman of the company. However, they are only people hired to manage. If they have no capital contribution, they are not considered as an investor.
In accordance with regulations, the investor can be one of the following cases:
- Being a member of a limited liability company with two or more members.
- Being the owner of a one-member limited liability company (except for the authorized representative).
- Being a member of the board of directors of a joint-stock company.
Do Investors are required to obtain Work Permit?
Work Permit for Investor is required. In accordance with Decree 152/2020, effective from February 15, 2021, the investor is exempted from a work permit if:
- Being the owner or capital contributor of a limited liability company with a capital contribution value of VND 3 billion or more.
- Being the chairman of the Board of Directors or a member of the Board of Directors of a joint-stock company with a capital contribution value of 3 billion VND or more.
Accordingly, if the investor has contributed capital of 3 billion VND or more, there is no need to carry out procedures to determine the demand for foreign workers. You can directly apply for a temporary residence card under the investment category to live and work in Vietnam.
Then, the foreign investor can apply for a temporary residence card with the following term:
|Contributed capital||Term of temporary residence card||Type of temporary residence card|
|From VND 100 billion or more, or invest in industries and professions eligible for investment incentives, and geographical areas with investment incentives decided by the Government.||Maximal 10 years||ĐT1|
|From 50 billion VND to less than 100 billion VND or invest in industries and trades that encourage development investment as decided by the Government.||Maximal 5 years||ĐT2|
|Maximal 3 years||ĐT3|
For investors with a capital of less than 3 billion VND, they will not be exempted from the work permit, but must carry out the procedures for applying for a work permit as usual. Next, let’s refer to the procedure for granting work permits to foreign investors.
Procedures of applying for Work Permit for investor with contributed capital under 3 billion.
Step 1. Submit document of applying for Approval of Use of Foreigner workers.
Companies with investors contributing less than 3 billion VND need to prepare documents explaining the demand for using foreign workers, including:
- Notarized Certificate of Business Registration
- Explanatory report on demand for using foreign workers
- Letter of Introduction
Processing time: 10 working days, not including the duration that the system receives and returns result by post.
Note: At least 30 days before the expected date of using foreign workers, the company needs to send an Explanatory report on demand for using foreign workers to the approval agency – Department of Labor, Invalids, and Social Affairs.
Currently, due to the complicated development of the Covid-19 epidemic, the Department of Labor, Invalids, and Social Affairs of provinces and cities only accept online applications. Then you just wait for the Department of Labor, Invalids, and Social Affairs to receive the application or refuse with a reason.
When there is a result of approving the demand for using foreign workers, the foreign-invested enterprise shall send the original document to the Department of Labour, Invalids, and Social Affairs and wait for the results to be returned by post.
Step 2: Submit document of applying for Work Permit for foreign investors.
After obtaining the Approval of using foreign workers, the enterprise needs to prepare the following documents to apply for an investment work permit for foreigners:
- A written request for a work permit for a foreign worker made according to the form No. 11 specified in Appendix I to Decree 152/2020/ND-CP of the government in 2020.
- Proof of education and certification of 3 years experience relevant to the position applying for a work permit.
- Approval of using foreign workers (please refer to step 1).
- Certificate of Health Examination carried out in foreign country or Certificate of Health Examination carried out in Vietnam and examined after entering Vietnam. The Certificate of Health Examination is valid for 12 months.
See the list of hospitals for health examination in terms of applying for work permits for investor
- Criminal Record of Vietnam (Criminal Record No. 1) or overseas criminal record legalized and notarized translated into Vietnamese (with a validity of no more than 6 months from the date of issue) .
- 2 color photos (size 4×6 cm, bare head, front view, clear face, clear ears, no glasses, white background), photos were taken not older than 6 months by the time of application submission.
- A copy of the passport or a valid document in lieu of a valid passport as prescribed by law. Enclosed with a Vietnam visa has enough time to make a work permit.
Processing time: 5 working days, not including the duration that the system receives visa online public service gate and returns result by post.
Note: Documents issued by foreign countries (university degree, work experience confirmation, criminal record, medical certificate…) must be consular legalized and notarized translated into Vietnamese.
Visa Oriental supports Consular Authentication services for foreign documents. Please contact HOTLINE 094 189 6226 or leave information in the comment section, we will quickly advise and quote a specific authentication price for each type of document.
Step 3: Receive the result of Work Permit for foreign investors.
When receiving the result of Work Permit, the enterprise must send the original dossier to the Department of Labor, Invalids, and Social Affairs and wait for the results to be returned by post.
Place for submitting Work Permit for foreign investors.
Enterprises carry out procedures for applying for work permits to investors at the Department of Labor, Invalids and Social Affairs of the province/city where the company’s head office is located.
Cost of applying for Work Permit for investor in Vietnam
Fees for procedures for applying for a work permit for foreigners vary depending on the job position and the documents to be handled such as notarized translation, consular authentication.
Process of quickly applying for Work Permit for Investor in Visa Oriental
Step 1. Consult about conditions and procedures of applying for Work Permit for Investors.
Customers only need to provide:
- Company information (Certificate of Business Registration)
- Document of investors obtained: degree, original or legalized Certificate of Experience
- Certificate of Health Examination for work permit
After that, Visa Oriental will advise whether the customer’s profile is valid or not, quote a work permit price and be responsible for preparing documents, notarization, translation, legalization of documents for foreign investors when customers Customer agrees to use the service as our work permit.
Step 2. Send document of applying for Work Permit for investors with contributed capital under 3 billion
After consulting the procedure for applying for a work permit for foreigners to be investors in Vietnam, Visa Oriental’s experts will guide customers to prepare all documents at the first time.
You only need to send the documents once to our forwarder. Visa Oriental will process the application and submit the work permit application on your behalf to the competent authority.
Step 3. Receive result of Work Permit
We ensure that customers receive the results of new work permits for foreign investors on time as committed.
Prestigious service of Work Permit for investor in HCMC
With many years of experience in the field of consulting Work Permit for Investor applications for foreigners working in Vietnam, Visa Oriental is currently a reliable partner of more than 200 businesses/guarantors based in Ho Chi Minh City, Long An, Dong Nai, Binh Duong,… Including enterprises inside and outside the industrial zone.
Why should you use Visa Oriental’s service of Work Permit for investor?
- Extensive experience in applying for Work Permit for Investor of foreign-invested enterprises, enterprises in industrial parks…
- Diversified services for foreigners: applying for a new work permit, renewing a work permit for investor, re-granting a lost or torn work permit, changing information…
- Support notarized translation, consular legalization of degrees and experiences to apply for a work permit.
- Service of applying for Criminal Record: Criminal Record No. 1 in 7 days. Just need a scanned passport, no need for foreign workers to present directly, saving time and effort.
- Apply for work permits for foreigners of all nationalities: India, Philippines, Korea, China, Hong Kong, Taiwan, Japan, USA, Europe…
- Support Work Permit for Investor service in Ho Chi Minh, Dong Nai, Binh Duong, Long An with door-to-door delivery service.
- Issue legal tax invoices and documents according to the content of the service customers use to facilitate payment procedures and tax finalization with businesses and tax authorities.
This is information about the topic “Work Permit for Investor”. In case businesses want to know if the investor needs to apply for work permit for investor or is exempt from a work permit, please contact Visa Oriental via HOTLINE 094 150 6226 for specific advice.