Application for License to conduct foreign currency collections and payments of enterprises specializing in the gambling business in Vietnam

11:59, 25/11/2017

The State Bank of Vietnam issued Circular No. 11/2017/TT-NHNN providing amendments to the Circular No. 15/2014/TT-NHNN providing guidance on foreign exchange management for business of prize-rewarding electronic games for foreigners.

According to Circular No. 11/2017/TT-NHNN of the State Bank of Vietnam, when a company operating the prize-rewarding electronic game business wants to conduct foreign currency collections and payments, and other foreign exchange transactions as prescribed herein, it must apply for a License.

The application includes:

- The application form for a License;

- The copy of the Investment Certificate or Certificate of Business Registration;

- The copy of the written approval for prize-rewarding electronic game business given by the competent authority or the copy of the Certificate of eligibility to operate prize-rewarding electronic game business or the copy of the Certificate of eligibility to operate prize-rewarding electronic game business;

- The Regulation on internal control of foreign currency revenues and expenditures which is duly signed by the company’s legal representative.

View details at Circular No. 11/2017/TT-NHNN of the State Bank of Vietnam, effective from October 15, 2017.

- Thanh Lam -

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