Vu Van Chung, deputy head of the Overseas Investment Department under the Ministry of Planning and Investment
The Vietnamese Ministry of Planning and Investment does not grant overseas investment certificates to local investors as a necessary step for them to get green cards (permanent residence) from the U.S. administration, a senior official has said.
Vu Van Chung, deputy head of the Overseas Investment Department under the Ministry of Planning and Investment, made the statement to Tuoi Tre (Youth) newspaper in response to claims that Vietnamese people can obtain green cards only by investing US$500,000 to $1 million in the U.S.
Many Vietnamese firms said they can circumvent the law to transmit money abroad for their clients who are applicants for immigrant investor programs offered by the U.S. and other countries.
Such money transmissions are necessary for applicants to prove their financial capability, as required by such programs as the U.S.’s EB-5 Immigrant Investor Program and two other programs of Canada.
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