Proposal for Vietnam to grant 'golden visas' to global elites

The Tourism Advisory Board has proposed issuing a "golden visa" with a term of 5-10 years to attract experts, talents, and the super-rich to Vietnam.

In a letter sent to Prime Minister Pham Minh Chinh and ministers on March 25, the Tourism Advisory Board (TAB) expressed concern that Vietnam’s tourism industry is at risk of falling behind some countries in the region such as Thailand and Malaysia. TAB proposed a number of solutions to stimulate demand for Vietnam’s tourism industry as well as establishing a Visa Policy Reform Board, with the participation of both the public and private sectors.

In the visa reform group, TAB suggested issuing a "golden visa" with a term of 5-10 years, with the possibility of extension, longer than the current term of 1-2 years; a 10-year investment visa with a path to permanent residency after 5 years if the investment level is maintained. TAB also mentioned a talent visa, with a term of 5 years and a simple renewal process.

These visa programs can be piloted in some cities and provinces with good conditions such as Phu Quoc, Ho Chi Minh City, Hanoi , and Da Nang.

International visitors in Hanoi in November 2024. Photo: Hoang Giang

In 2024, Vietnam tourism will welcome 17.6 million visitors, recovering to almost the pre-pandemic level of 18 million in 2019. Thailand will welcome more than 36 million visitors, equal to 88% of the 40 million level, and Malaysia will also reach 96% of the 25 million level in 2019. TAB commented that Vietnam's tourism competitors "are making drastic changes in visa policies", Vietnam needs to be aware of this change and respond appropriately. Thailand has expanded the number of visa-free countries from 57 to 93, while Malaysia has also exempted visas for 158 countries. Both countries have implemented new types of visas. Meanwhile, Vietnam currently exempts visas for 30 countries.

Regarding tourism support, Thailand has allocated nearly 200 million USD to promote tourism abroad in 2024. Malaysia spent 84 million USD, Singapore spent 220 million USD. TAB said that although there is no data on the state budget allocated to promote Vietnamese tourism, this figure is "certainly not significant", nearly 8 million USD.

In addition to the visa reform proposal, the Tourism Advisory Council also believes that the industry needs a widespread communication and promotion campaign, with financial support from the state budget or taxes collected from tourism activities.

According to TAB, the visa policies they proposed have been adopted by many countries in the region. In 2022, Thailand launched a "Long-term Residence Visa" program for up to 10 years for international visitors. In 2025, Thailand adjusted the criteria of this program to attract more global talent and replaced the "Priority Visa" launched in 2003 with the "Thai Privilege Entry Visa". Singapore also has a "Global Investor" program to attract talent and the wealthy.

Previously, at the regular Government meeting in February and the first two months of the year on March 5, the Prime Minister assigned the Ministry of Foreign Affairs, the Ministry of Public Security and the Ministry of Culture, Sports and Tourism to study appropriate visa policies, especially for traditional friendly countries, diversifying visa exemptions with some countries and subjects such as billionaires around the world.

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