Vietnam’s Ministry of Finance has proposed a major regulatory shift that could significantly ease the outbound investment process for Vietnamese companies and high-net-worth individuals (HNWIs). The draft amendment to the Investment Law suggests eliminating the current outbound investment license requirement. Instead, investors would simply register their capital transfers with the State Bank of Vietnam (SBV) after obtaining approval documents from recipient countries (source).
What This Proposal Entails
- No More Pre-Approval: Investors would no longer need to obtain permission from the National Assembly, Prime Minister, or Ministry of Finance for outbound investments.
- Simplified Procedure: Registration with the SBV would only require documentation such as investment certificates, proof of business establishment abroad, or share acquisition contracts.
- Monitored Capital Flows: The SBV would retain oversight by monitoring transfers and has the authority to suspend disbursements or freeze accounts to protect Vietnam’s foreign exchange reserves if necessary.
Why This Matters
- Faster Execution
- The removal of pre-licensing requirements will eliminate major bureaucratic hurdles and delays, enabling Vietnamese investors to act swiftly on cross-border opportunities.
- Modernized Oversight
- The focus shifts from pre-investment scrutiny to post-investment monitoring aligned with international best practices.
- Context of Existing Rules
- Currently, outbound investments exceed VND 20 trillion (approx. USD 760 million) need National Assembly approval, while projects over VND 800 billion (approx. USD 32 million) in sectors like banking, media, and telecom require Prime Ministerial sign-off.
- Growing Outbound Interest
- As of mid-2025, Vietnam’s total outbound investment portfolio includes 1,916 active projects with a combined value exceeding USD 23 billion. Disbursements in just the first seven months of 2025 reached USD 528.5 million over 3.5 times the amount from the same period in 2024.
Easing Capital Mobility for Business Immigration
Vietnam’s proposed reforms don’t just impact corporate or institutional investors, they could also unlock new pathways for global mobility and business immigration. For many Vietnamese entrepreneurs and high-net-worth individuals, obtaining approval to transfer funds abroad has been a major bottleneck in accessing international residency and investor visa programs.
If outbound investment licenses are removed, it may become faster and easier for investors to meet the capital requirements for programs like the U.S. EB-5, Portugal’s Golden Visa, or UAE business incorporation routes. By streamlining capital flow, Vietnam is potentially empowering its citizens to explore foreign business ownership, second residencies, and asset diversification with fewer regulatory delays.
Looking Ahead
If passed, this amendment would mark a significant turning point for Vietnam’s outbound investment environment. The move would align Vietnam more closely with global capital markets by reducing red tape while maintaining macroeconomic safeguards. The proposal is currently under review and open for public consultation before final legislative approval.
