Can small-scale casino-operating enterprises in Vietnam extend their Certificate of eligibility for casino business?
Can small-scale casino-operating enterprises in Vietnam extend their Certificate of eligibility for casino business?
Renewing the Certificate of eligibility for casino business is specified in Article 30 of Decree 03/2017/ND-CP:
Extension of Certificate of eligibility for casino business
1. Only Certificates of eligibility for casino business of large-scale casino-operating enterprises defined in clause 15 Article 2 of this Decree shall be considered extending.
2. Any large-scale casino-operating enterprise having a Certificate of eligibility for casino business expired according to regulations in this Decree which wishes to continue the casino business shall apply for extension of the Certificate at least 06 months before the Certificate expires.
3. Requirements for extension of a Certificate of eligibility for casino business:
a) The current Certificate of eligibility for casino business shall be effective for at least 06 more months before the time of application for the extension;
b) The requirements specified in points a, c and d clause 1 Article 24 of this Decree are satisfied;
c) The casino business is concluded conformant by a regulatory body upon the nearest periodic inspection according to regulations in clause 3 Article 60 of this Decree.
4. An application for extension of a Certificate of eligibility for casino business shall contain:
a) An application form for extension of the Certificate of eligibility for casino business;
b) A certified true copy of the current Certificate of eligibility for casino business which is effective for at least 06 more months before the time of application for the extension;
c) Documents specified in clauses 2, 4, 5 and 7 Article 25 of this Decree;
d) A certified true copy of the record of the regulatory body’s conclusion about the nearest periodic inspection as prescribed in clause 3 Article 60 of this Decree.
5. Procedures for extension of the Certificate of eligibility for casino business shall be conformant with regulations in clauses 1, 2 and 3 Article 26 of this Decree.
6. Inspection contents
Pursuant to provisions of this Decree and relevant law provisions, the Ministry of Finance and relevant authorities specified in clause 3 Article 26 of this Decree shall conduct the inspection of the applications according to the requirements specified in clause 3 of this Article.
7. A Certificate of eligibility for casino business shall be extended according to the application of the enterprise by a period not exceeding the effective duration of the Certificate of investment registration or the decision on investment policy and not exceeding 10 years from the day on which the Certificate of eligibility for casino business is extended.
Thus, according to the above regulations, only Certificates of eligibility for casino business of large-scale casino-operating enterprises defined in clause 15 Article 2 of Decree 03/2017/ND-CP shall be considered extending.
Accordingly, small-scale casino-operating enterprises will not be able to extend their Certificates of eligibility for casino business.
Can small-scale casino-operating enterprises in Vietnam extend their Certificate of eligibility for casino business? (Image from the Internet)
Vietnam: How long is the Certificate of eligibility for casino business valid?
The content of the Certificates of eligibility for casino business is specified in Article 27 of Decree 03/2017/ND-CP.
Certificate of eligibility for casino business
1. A Certificate of eligibility for casino business must have the following contents:
a) Name and address of the enterprise applying for the Certificate of eligibility for casino business;
b) Number and date of issue of the Certificate of investment registration or the decision on investment policy;
c) Legal representative of the enterprise;
d) The maximum number of gaming machines and/or gaming tables that the enterprise may install;
dd) Location of the casino and the surrounding area in the casino-included entertainment complex;
e) Effective period;
g) Other contents according to the enterprise’s management requirement.
2. The Certificate of eligibility for casino business shall specify its effective period on the basis of the application of the enterprise which must not exceed the effective period of the Certificate of investment registration or the decision on investment policy and not exceed 20 years from the day on which the Certificate of investment registration or the decision on investment policy, excluding the cases specified in Article 62 of this Decree.
Thus, according to the above regulations, the Certificate of eligibility for casino business shall specify its effective period on the basis of the application of the enterprise which must not exceed the effective period of the Certificate of investment registration or the decision on investment policy and not exceed 20 years from the day on which the Certificate of investment registration or the decision on investment policy, excluding the cases specified in Article 62 of Decree 03/2017/ND-CP.
What is the application for issuance of the Certificate of eligibility for casino business in Vietnam?
An application for issuance of the Certificate of eligibility for casino business shall contain documents according to Article 25 of Decree 03/2017/ND-CP as follows:
- An application form for the Certificate of eligibility for casino business.
- A certified true copy of the Certificate of investment registration or the decision on investment policy which contains the provisions regarding the casino business and amending documents thereof (if any) which are issued by competent authorities according to laws on investment or a non-certified copy enclosed with the original for comparison.
- Documents proving that the capital has been fully disbursed as prescribed in point b clause 1 Article 24 of Decree 03/2017/ND-CP.
- A map of location of the casino.
- A draft of the regulation on internal management, organization of the internal control division, internal regulations on prevention of and fighting against money laundering, regulation on dispute settlement and game rules.
- A casino business project containing information of the enterprise, information of the implementation of the investment project, expected time limit for running casino business, expected number of gaming machines and/or gaming tables, categories of prize-winning games to be provided, assessment of business efficiency, expected needs for foreign currency receipt and spending, measures to assure social security, order and safety of the casino and plan for implementing the project.
- A list of managers and executive officers of the casino with their criminal records and authenticated copies or non-authenticated copies enclosed with the originals of their qualifications to prove their professional capacities.
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