A Foreigner has to apply for and obtain a valid work permit in order to work legally in the territory of Vietnam, except for the specific circumstances of work permit exemption as indicated by law. The foreigner is required to apply for a work visa or a temporary residence card to reside in Vietnam legally after obtaining a work permit. Foreigners with a temporary residence card can enter and exit Vietnam without a visa within the valid terms of their temporary residence card.
The standard procedures under normal circumstances are as follows:
The employer applies for an approval on the employment of foreigners from the competent authorities of labor.
Application for a work permit.
Application for a work visa or a temporary residence card.
Currently, the maximum term of a Vietnam work permit is 2 years. According to the updated regulations of Vietnam government authority (Decree No. 152/2020/ND-CP which came into force on 15 February 2021), a work permit can only be extended once for further 2 years. When the extended work permit expires, the employer shall follow the same procedure to obtain a new work permit if it wishes to continue employing such foreign employee. However, any work permit issued before 15 February 2021 when Decree No. 152/2020/ND-CP taking effect shall not be extended upon expiration. If the employer wants to continue the employment, then it must apply for a new work permit for the foreigner.
In addition, the foreigner must have a bachelor’s degree or above directly related to or matching the job position in Vietnam when applying for a work permit as per Decree No. 152/2020/ND-CP. But in accordance with Resolution No. 105/NQ-CP issued by the Vietnam government authority on 9 September 2021, such requirement has been relaxed now.
KAIZEN Group is equipped with experienced and highly qualified professional consultants and is therefore well positioned to provide professional advices and services in respect of the formation and registration of company, application for various business licences and permits, company compliance, tax planning, audit and accounting in China. Please call and talk to our professional consultants for details.
Disclaimer
All information in this article is only for the purpose of information sharing, instead of professional suggestion. Kaizen will not assume any responsibility for loss or damage.
Foreign invested enterprises (FIEs) registered in Vietnam are required to submit reports on investment activities to the relevant investment registration authorities on periodic basis in accordance with the Law on Investment of Vietnam and other laws and regulations.
A foreign invested company shall be dissolved under the following circumstances:The operation period specified in the company's charter expires without a decision on extension;The dissolution is decided by the shareholders of the company;The company fails to maintain statutory minimum number of members for six consecutive months without conversion;
A Foreigner has to apply for and obtain a valid work permit in order to work legally in the territory of Vietnam, except for the specific circumstances of work permit exemption as indicated by law. The foreigner is required to apply for a work visa or a temporary residence card to reside in Vietnam legally after obtaining a work permit. Foreigners with a temporary residence card can enter and exit Vietnam without a visa within the valid terms of their temporary residence card.
Foreign investors may enter the Vietnam market through an equity acquisition of an existing Vietnamese enterprise (hereinafter referred to as “foreign equity acquisition”) in addition to setting up a foreign invested enterprise in Vietnam directly. Currently, Vietnam has not yet enacted any special laws or regulations on foreign equity acquisition.
