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

12:00, 19/09/2017

This is an important content specified in Circular No. 11/2017/TT-NHNN of the State Bank of Vietnam 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, enterprises specializing in the gambling business shall send application to the State Bank to obtain a license for foreign currency receipts, expenditures and other foreign exchange transactions, which shall satisfy the following requirements:

- The gambling company shall by hand or by post send 02 (two) sets of application to the branch of the State Bank of province or central-affiliated city where its business location is located.

- The application must be made in Vietnamese. Documents in foreign language must be translated into Vietnamese and certified by a legal representative of the gambling company.

- If any documents included in the application are copies, the gambling company must submit the copies from master registers or certified copies or copies enclosed with their originals for collation. If a copy is submitted together with its original for collation, the person in charge of collation shall assume responsibility to certify the accuracy of such copy with its original.

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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