In the context of increasingly vibrant tourism development in Vietnam, resort investment is becoming one of the fields attracting great attention from both domestic and foreign investors. This article provides detailed information on the legal framework and necessary requirements for resort investment in Vietnam in 2025.

1. Overview of Resort Investment in Vietnam

Vietnam’s tourism industry is experiencing strong growth, creating favorable conditions for investment in the resort sector. With diverse terrain ranging from sea to mountains, Vietnam has great potential for developing high-end resort areas.

2. Investment Law 2020 and Resort Regulations

2.1. Key Regulations

The Investment Law 2020 introduced several important new points, making it more favorable for resort investors (According to the Tay Ninh Provincial E-Portal):

• Clear separation of procedures for investment policy approval and investor selection: The 2020 Investment Law has separated these two procedures, making the investment process more transparent and efficient.
• Addition of bank guarantee for deposit obligations: Investors may choose to either make a deposit or use a bank guarantee to ensure the implementation of the investment project, providing flexibility in capital mobilization.
• Harmonization of procedures for investment approval and investor selection between the Investment Law and the Housing Law: This helps reduce legal procedures for investors in the real estate sector.

2.2. Licensing Conditions

To obtain a resort investment license, investors must meet the following conditions:

• Investors must establish an enterprise (Clause 1, Article 10 of the Law on Real Estate Business)
• Real estate project investors must: not be prohibited or suspended from operation by competent authorities; ensure financial safety ratios; have a minimum equity capital of 20% (for projects under 20 hectares) or 15% (for projects from 20 hectares or more) of the total investment capital and sufficient capital to implement all ongoing projects. (Clause 2, Article 10 of the Law on Real Estate Business)
• Compliance with planning: The project must conform to land use planning, urban planning and be approved by competent state agencies. (Article 11 of the Law on Real Estate Business)
• Investment policy approval: Depending on the scale and nature of the project, the investor must obtain investment policy approval from competent authorities such as the National Assembly, the Prime Minister, or the provincial People’s Committee. (Section 2, Chapter IV of the Investment Law)
• Land use conditions: Investors must make a deposit, have financial capacity, and not violate land laws (or have fully remedied violations as prescribed). (Clause 2, Article 122 of the Land Law)
• Environmental impact assessment: The project must conduct an environmental impact assessment as prescribed by the Law on Environmental Protection. (Article 30 of the Law on Environmental Protection)
• Additional permits: In addition to a business license, investors must obtain supplementary permits such as a construction permit, fire prevention and fighting permit, and food safety certificate.

3. Resort Investment Procedure

3.1. Preparation of Application Dossiers

1. Application for investment policy approval: (Clauses 1, 2 Article 33 of the Investment Law 2020)

• Written request for project implementation: Including a commitment to bear all costs and risks if the project is not approved.
• Documents on the investor’s legal status: ID card, citizen ID card, or passport for individuals; Enterprise registration certificate for organizations.
• Investment project proposal: Clearly stating objectives, scale, investment capital, capital mobilization plan, location, duration, implementation schedule, land use demand, labor demand, proposed investment incentives, impacts, and socio-economic efficiency of the project.
• Documents proving financial capacity: Latest 2-year financial statements, financial support commitments from parent companies or financial institutions, guarantees of financial capacity, or other documents proving the investor’s financial capability.
• Other documents related to the investment project, requirements on conditions, and investor capacity as prescribed by law (if any).

2. Application for land allocation or lease: (Section 3, Subsection 3, Part B, Section II of Decision 2124/QĐ-BTNMT)

• Copy of the investment policy approval document: Or investment project approval decision.
• Land allocation or lease application: According to the form specified in Decree 102/2024/NĐ-CP.
• Extract of cadastral map of the land lot: Or cadastral measurement of the land lot.

3. Application for construction permit: (Article 57 of Decree No. 175/2024/NĐ-CP)

• Construction permit application: According to the prescribed form.
• Land use rights documents: Certified copy.
• Project approval decision; notification document of appraisal results
• Construction design drawings: Including overall layout, floor plans, elevations, and cross-sections of the works.

4. Application dossier for the business license of accommodation services (resort): (Article 49 of the Law on Tourism 2017, Article 29 of Decree No. 168/2017/NĐ-CP)

• Certified copy of the enterprise registration certificate.
• Curriculum vitae of the head of the establishment: or personnel declaration form.
• List of staff working at the establishment: attached with professional qualifications (if any).
• Fire safety inspection report: issued by a competent authority.
• Diagram of the resort business premises: detailing functional areas.

5. Application for environmental impact assessment appraisal: (Article 34 of the Law on Environmental Protection 2020)

• Written request for environmental impact assessment appraisal
• Environmental impact assessment report
• Feasibility study report or equivalent document to the feasibility study report of the investment project

6. Application for other supplementary permits:

• Certificate of eligibility for security and order
• Food safety certificate
• Fire prevention and fighting permit

3.2. Processing Time

The processing time for application dossiers depends on the scale and nature of the project.

• Construction permit: 20–30 working days
• Business registration: 3–5 working days
• Accommodation license: 15–20 working days
• Additional permits: 7–15 working days

4. Investment Capital Requirements

The minimum investment capital is not specifically stipulated by law for resort-type projects; however, in practice, it is determined based on several factors such as:

• Project scale (land area, total investment, number of rooms, auxiliary work items…)
• Geographical location (within a tourist area, in a planned development zone, coastal, mountainous…)
• Type of resort (leisure resort, eco-resort, resort combined with golf course, casino…)
• Classification standards (based on accommodation standards from 1 to 5 stars according to Circular 06/2022/TT-BVHTTDL)

For land-use projects, the following must be ensured:

• Equity capital must not be less than 20% of the total investment if the land area is under 20 hectares;
• Not less than 15% of the total investment if the land area is 20 hectares or more

In addition, competent authorities may assess the investor’s financial capacity through:

• Audited financial statements
• Capital contribution/fundraising commitments
• Proof of financial capacity through existing assets or lawful financial sources

5. Construction and Operational Standards

5.1. Construction Standards

Resorts must comply with:

• National technical regulations on construction (QCVN 01:2021/BXD and other specialized regulations, if any)
• Fire prevention and fighting standards under Decree 136/2020/NĐ-CP and related national technical standards
• Environmental and landscape protection standards: including green space planning, wastewater treatment, solid waste, noise… under the Law on Environmental Protection 2020 and related regulations
• Accessibility standards for people with disabilities (if public services are available), according to QCVN 10:2014/BXD
• Compliance with construction planning, land use planning, and tourism planning in the project area

5.2. Operational Standards

Operational requirements include:

• Service quality management system: applying systems such as ISO 9001 or equivalent tourism standards
• Tourism accommodation standards: according to Circular 06/2022/TT-BVHTTDL, which details resort classification from 1 to 5 stars
• Food hygiene and safety: under the Law on Food Safety and inspection/licensing regulations of local health authorities
• Professional personnel management: staff must have appropriate professional qualifications, formal training, and tourism service skills

6. Recommendations for Investors

To ensure success in resort investment, investors should:

• Research the market and location: helps identify customer needs, exploitation potential, and avoid risks from unfavorable locations.
• Consult experts: supports investors in understanding the legal framework, optimizing finances, and avoiding violations and arising costs.
• Develop a detailed business plan: forms the basis for fundraising, cash flow management, and investment efficiency evaluation.
• Comply with the law: ensures the project is legally implemented, avoiding suspension, penalties, or land withdrawal.

Conclusion

Investing in resorts in Vietnam is an attractive opportunity but requires thorough preparation and strict compliance with legal regulations. With a comprehensive understanding of the legal framework and investment requirements, investors can confidently develop successful resort projects.

For detailed advice on resort investment, please contact our legal and investment consulting experts.

Important note: This article is for reference only. Businesses should consult official legal documents and expert advice from Harley Miller Law Firm for the most accurate information.