Vietnam weighs talent visa and five-year tax break for specialists
The proposals would let qualifying foreigners work without permits and give employers larger tax deductions for staff carrying out strategic tasks.
Vietnam is considering a dedicated visa for foreign talent alongside relief from personal income tax on salaries and bonuses for five years. The Ministry of Home Affairs has opened public consultation on the proposals before submitting its draft resolution to the National Assembly.
The framework would cover Vietnamese nationals, including those living overseas, as well as foreigners. Qualifying talented people and their associates would receive the tax exemption, starting when their income arises.
Foreigners meeting the criteria could obtain a Vietnam Talent Visa and related temporary residence cards. Extensions and changes in residence purpose would remain subject to relevant conditions and deadlines. Their spouses and children aged under 18 could receive UD2 visas and residence cards, with support for education and everyday living.
Qualifying foreigners would be able to hold jobs with several employers without work permits. Switching jobs would not require their visas to be reissued.
Employers using talent and associates for strategic tasks could claim an additional corporate income tax deduction equivalent to 100 per cent of salary and bonus payments actually made. Total deductions would therefore reach 200 per cent of those costs. Talent undertaking such work at businesses not using state budget funds would retain access to all the proposed incentives.
The draft also envisages conditional liability protections for talent, participants in strategic tasks, people handling talent selection and employment, and policy drafters. Following procedures and avoiding personal gain when facing objective risks would be conditions. Corruption, fraud, deliberate legal violations and damaging policy abuse would not qualify.
Annual public funding for talent activities would amount to around 0.1 per cent of GDP. The National Assembly would determine annual allocations, with the government distributing funds. Provincial and municipal People's Councils that have budgetary autonomy could approve higher spending.
