Vietnam financial centers aim to attract Forbes 500 firms with tax incentives
Vietnam aims to attract Forbes 500 firms into its to-be-built financial centers with tax incentives, according to a draft resolution on building financial centers.
Per the resolution draft compiled by the Ministry of Planning and Investment, wholly foreign-invested credit institutions, financial institutions, and funds are exempted from corporate income tax (CIT) for two years, and the taxes are halved for the next four years from the date taxable income is recorded.

A corner of HCMC. Photo courtesy of Thanh Nien (Young People) newspaper.
Besides, for investments in prioritized sectors, the CIT is 10% for the whole project duration. The investments also enjoy tax exemptions for four years, and tax payments are halved for the next nine years from the date taxable income is recorded.
Other investments are subject to CIT exemptions for four years, and tax payments are halved for the next nine years from the date taxable income is recorded. The CIT is 10% for 15 years.
Regarding personal income tax (PIT), managers, scientists, and high-level experts are exempt from tax. For others, the PIT will be exempted by 2035 and halved in the next years.
The draft resolution offers an easier policy for immigration. Foreigners and Vietnamese citizens with foreign passports and their families can receive multiple entry visas for the duration of their work at the financial centers. They can also apply for limited residence in Vietnam.
Foreigners and Vietnamese holders of foreign passports working with financial center management agencies are exempted from entry visas for a duration of no more than 30 days.
According to the Government’s Resolution 259/NQ-CP dated December 31, 2024, Vietnam is building two financial centers in Ho Chi Minh City and the central coastal city of Danang.
In November 2023, the National Assembly, Vietnam’s highest legislative body, passed a resolution on global minimum tax (GMT).
The GMT under OECD Pillar Two is a once-in-a-lifetime global tax reform that will apply to multinational companies with revenues of EUR750 million ($800 million) or more. Such companies will be subject to a minimum global tax rate of 15%.
Vietnam’s current general CIT is 20%, basically higher than the GMT and fulfilling the initiative. However, some enterprises are subject to tax exemptions and low tax rate policies, hence their practical rates are lower than 15%.
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