Vietnam’s retiree visa should attract financially stable individuals

Vietnam’s visa landscape is evolving, presenting an opportunity to compete with neighboring countries in attracting retirees.

According to the Ministry of Labor, Invalids, and Social Affairs, approximately 136,800 foreigners were officially employed in Vietnam as of the end of 2023.

Meanwhile, a significant number of others are believed to be residing in the country without formal employment status. This group may include long-term visitors, digital nomads, accompanying family members, international students and retirees, many of whom already contribute economically through housing, education, healthcare and daily spending.

Vietnam currently lacks a dedicated retirement visa, forcing retirees to rely on tourist, business, investor, or family visit visas, as well as temporary residence cards linked to those categories. This workaround often requires frequent renewals and limits long-term security.

Vung Tau, as one example, has long been known as a haven for retired Australians, as well as many other nationalities. Many of these people, who are mostly men and at retirement age, rely on a tourist visa to stay in Vietnam.

They are facilitated by regular ‘border ruún’ where they spend almost a day taking a bus to Moc Bai Border Gate in southern Tay Ninh Province to exit Vietnam and then re-enter under a new three-month tourist visa. 

Whilst this is not illegal, there must be a better way to allow these foreigners to enjoy their time by the seaside in Vietnam.

A structured retirement visa program could address these challenges by offering retirees a legal and stable pathway to residency, reducing bureaucratic hurdles while contributing to the economy. 

Such a program could stimulate regional development, particularly in coastal cities popular with retirees, by attracting investment and supporting businesses tailored to their needs.

Retirement dreamland

Vietnam is an excellent place for retiring expats. The country is rapidly changing, bringing new experiences and opportunities for global citizens to enjoy something unique. 

While traditional Vietnam remains a strong presence on every street corner, a modern atmosphere is emerging in cities and regional communities. Apartment living has reached world-class standards, with new complexes springing up, even in unexpected locations.

Vietnam holds several advantages over other Southeast Asian nations, and for me, the biggest one is healthcare. Having lived in Ho Chi Minh City for over a decade, I have personally witnessed the transformation of medical services to world-class standards. 

For foreigners who don’t speak Vietnamese, there are now many opportunities to receive care equivalent to, and sometimes even better than, what they might find in their home country.

The medical insurance system also offers great benefits for expats. Affordable insurance plans provide comprehensive coverage at surprisingly reasonable rates.

For years, people have recognized how inexpensive it is to live in Vietnam. From food to beer to household expenses, the cost of living can be delightfully low, especially for those on a budget.

However, strategic choices are necessary.

Avoid expat-heavy neighborhoods. In Ho Chi Minh City, areas like Thao Dien and Phu My Hung come with premium prices for housing and services. Living in a more local area can reduce basic expenses by 50 percent, without a significant drop in living standards.

Moreover, major cities such as Ho Chi Minh City and Hanoi may not be ideal for retirees. Quieter coastal destinations like Quy Nhon, Vung Tau, and Nha Trang tend to be more suited to retirement.

This shift makes sense. Ho Chi Minh City, for example, has become a hub for global companies eager to tap into the growing skills of young Vietnamese workers. As a result, young professionals from across the country are flocking to big cities for training and career opportunities. While this development is a positive step for Vietnam’s economy, it has also led to soaring costs for basic services in urban centers over the past decade.

‘Should attract financially stable individuals’

This is where the proposed ‘Golden Visa’ could play a crucial role, not by adding more pressure to big cities but by strategically filling gaps elsewhere.

The proposed five- and ten-year visas targeting affluent foreigners, retirees, investors and skilled talent could be a game-changer, but they have yet to be enacted into law and will likely come with strict conditions. The plan remains under discussion and may not materialize soon, depending on national priorities.

Across Southeast Asia, several countries have introduced retirement visas with financial requirements.

These requirements are necessary, in my opinion. A retiree visa should attract financially stable individuals who can contribute to the economy and help revitalize regional areas in need of foreign residents.

If Vietnam eventually introduces long-term retiree visas, they will likely target financially secure individuals rather than providing access to anyone with a pension. The visa program will be designed with purpose: to benefit both the country and local communities.

While millions of people would welcome this change, practical challenges remain. Considerations such as property ownership, driving permits, and location choices will play a major role for retirees who is committed to living in Vietnam.

Although Southeast Asia offers a lower cost of living than Western countries, moving to Vietnam requires more than just a pension and a desire for a fresh start. The ideal candidate will have assets, savings, and a genuine interest in supporting the local economy.

If you’re considering retirement in Vietnam, stay informed. While a retiree-specific visa is not yet legislated, future developments may offer new opportunities to experience this incredible country.

By Ray Kuschert – Tuoi Tre News – June 20, 2025