Newest procedures for issuing certification of eligibility for business of prize-winning electronic games for foreigners in Vietnam

Newest procedures for issuing certification of eligibility for business of prize-winning electronic games for foreigners in Vietnam​ (Image from the internet)

On June 26, 2024, the Ministry of Finance of Vietnam issued Decision 1433/QD-BTC on the announcement of amended administrative procedures in the field of Finance and Banking within the management of the Ministry of Finance of Vietnam.

Newest procedures for issuing certification of eligibility for business of prize-winning electronic games for foreigners in Vietnam

(1) Implementation process:

- The enterprise submits one application dossier requesting the issuance of a Certificate of Eligibility for Business to the Ministry of Finance;

- Within 15 days from the date of receiving the dossier, the Ministry of Finance shall notify the enterprise of the completeness and validity of the dossier, and request the enterprise to supplement documents (if any) and submit 6 official dossiers for appraisal;

- Within 15 days from the date of receiving a complete and valid dossier, the Ministry of Finance shall forward the dossier to collect opinions from related agencies including: Ministry of Public Security, Ministry of Culture, Sports and Tourism, Ministry of Planning and Investment, State Bank of Vietnam, and the Provincial People’s Committee where the enterprise requests permission to organize the gaming business activities;

- Within 15 days from the date of receiving the dossier for opinion, the consulted agencies must provide their written opinions and be responsible for the contents of their opinions to the Ministry of Finance;

- After receiving all the consultation opinions from the relevant agencies, the Ministry of Finance consolidates the opinions; coordinates with the Ministry of Public Security, Ministry of Culture, Sports and Tourism, Provincial People’s Committee, and other related agencies to inspect at the tourism accommodation establishment to determine the area for arranging the Business Point that meets the conditions specified at point a, clause 2, Article 5 of Decree 121/2021/ND-CP; determine the number of accommodation rooms put into business as a basis for determining the maximum number of gaming machines the enterprise is allowed to operate according to clause 1, Article 7 of Decree 121/2021/ND-CP and consider, decide on issuing or not issuing the Certificate of Eligibility for Business;

- Within 60 days from the date of receiving complete 6 official dossiers, the Ministry of Finance considers and issues the Certificate of Eligibility for Business. In case of refusal to issue the Certificate of Eligibility for Business, the Ministry of Finance shall notify the enterprise in writing and clearly state the reason for refusal;

- After being issued the Certificate of Eligibility for Business by the Ministry of Finance, the enterprise is responsible for completing the procedures for adjusting and supplementing the business lines of gaming at the Certificate of Eligibility for security and order according to the law before organizing the gaming business activities.

(2) Method of implementation:

For the dossier to appraise the completeness and validity, the enterprise submits it in one of the following forms:

- Direct submission to the Ministry of Finance;

- Through postal service;

- Through the online public service portal of the Ministry of Finance.

For the official dossier for appraisal, the enterprise submits it in one of the following forms:

- Direct submission to the Ministry of Finance;

- Through postal service.

(3) Quantity and composition of the dossier:

Quantity of dossier: One dossier for appraising the completeness and validity, and six official dossiers for appraisal.

Composition of the dossier:

- Application for issuance of Certificate of Eligibility for Business;

- Copy of the Investment Registration Certificate or the Enterprise Registration Certificate issued by the competent state management agency according to the provisions of the Investment Law, Enterprise Law, which includes registration for gaming business;

- Copy of the decision ranking the tourism accommodation establishment issued by the competent state management agency and documents proving the enterprise holds ownership of the tourism accommodation establishment;

- Documents proving the number of accommodation rooms that have been put into business at the tourism accommodation establishment;

- Diagram of the Business Point layout, including explanations of the basic contents: entrances and exits of the Business Point; area for arranging gaming machines; cashier, treasury counting area for cash and virtual currency storage devices; area for arranging electronic devices and camera systems for monitoring and surveillance, and fire prevention equipment;

- The audited financial statements of the previous year immediately before the enterprise submits the dossier requesting the issuance of the Certificate of Eligibility for Business by an independent auditing organization for public interest units. The audited financial statements must have a full acceptance opinion. In case of an excepted opinion, the exceptions must not affect the conditions for issuing the Certificate of Eligibility for Business specified at point d, clause 3, Article 20 of Decree 121/2021/ND-CP;

- Copy of the Certificate of Eligibility for security and order for the tourism accommodation establishment issued by the competent police agency.

- Draft of the internal management regulation, organization of the internal control department, internal regulations on anti-money laundering, and Game Rules.

- A business plan, including main contents: objectives, quantity, types, and forms of gaming machines, projected foreign currency income and expenditure, solutions to ensure security, order, and social safety for the Business Point, and an implementation plan.

- List, brief resumes on qualification and work experience, copies of diplomas certified by the competent state management agency or copies with original for comparison proving the managerial and operational capability of the Business Point manager.

Details can be found in Decision 1433/QD-BTC, which comes into force in Vietnam from June 28, 2024.

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