In a letter sent to Prime Minister Pham Minh Chinh on March 25, the Tourism Advisory Board proposed a series of measures to attract visitors, including the introduction of “golden visas” valid for five to 10 years to make Vietnam competitive with its neighbors.

Herbert Laubichler-Pichler, CEO of Alma Resort Cam Ranh, said many foreign guests at his Khanh Hoa Province-based hotel are keen to stay longer or visit regularly without facing visa issues.

He said many are “gradually becoming tired of overdeveloped tourist centers” and seek exactly what Vietnam offers: rich culture, natural beauty, and attractive investment opportunities.

During his 20 years in the luxury hotel business in Vietnam, he has witnessed the strong growth of infrastructure and service standards, he said.

With the issuance of golden visas, he believed Vietnam is well-positioned to compete globally in attracting long-term foreign tourists and investors.

Jimmy Tran, director of sales and marketing at Azerai Resorts, said the introduction of golden visas would “mark a turning point in the country’s status in the global luxury hotel market.”

The “timely and strategically visionary” proposal to issue “golden visas” could transform Vietnam from a short-term destination into a permanent residence for high-net-worth visitors, professionals, and global citizens seeking both leisure and investment opportunities.

Several Southeast Asian countries already offer long-term visas.

In 2022 Thailand launched a “long-term residence visa” for up to 10 years. In 2025 it revised this program to attract more global talent and replaced its 2003 priority visa with the “Thailand privilege entry visa.”

Singapore has a “global investor” program and Malaysia has launched the “My Second Home” scheme.

Other countries with similar policies include the UAE, Portugal, Spain, and Greece.

A directive from the PM last week instructed ministries to consider offering special visa incentives to high-profile foreign visitors, including billionaires and celebrities.

But some pointed to potential concerns such as money laundering by individuals posing as tourists and recommended having clear standards and carefully reviewing the issuance of this type of visa.

Pham Hai Quynh, director of the Asian Tourism Development Institute, said to qualify candidates should meet certain criteria such as owning real estate or other assets of substantial value, having high spending capacity for travel, accommodation and experiences in Vietnam, or having prestigious careers or senior leadership positions in fields like technology, finance and manufacturing.

Laubichler-Pichler said the government should also assess their commitment to Vietnam such as a genuine interest in its traditions and a willingness to support community development so that the program attracts people who respect and value Vietnamese culture rather than those simply seek a visa.

Experts said the “golden visa” should first be trialed in select destinations with adequate infrastructure and tourism potential such as Hanoi, Ho Chi Minh City, Phu Quoc, and Da Nang.

Meanwhile, Vietnam should focus on upgrading its service supply chain and the quality of its tourism and hospitality workers to enhance competitiveness, they said.

Laubscher-Pichler said: “Vietnam has its own unique identity, and the golden visa program should reflect that.”