This is new content mentioned in Circular 11/2017/TT-NHNN (effective from October 15, 2017) amending and supplementing Circular 15/2014/TT-NHNN on foreign exchange management for business activities involving electronic gaming with prizes for foreigners.
Casino enterprises that are granted a permit for foreign currency transactions and other foreign exchange activities must open a specialized account (Account) for each type of foreign currency at an authorized bank in Vietnam and carry out foreign currency collection as follows:
- Deposit foreign currency cash into the Account in case the source of foreign currency cash revenue is from the sale of conventional currency, from electronic gaming machines with prize payouts exceeding the fund limits as stipulated in Article 8 of Circular 15;- Collect transfers from accounts overseas or payment accounts in foreign currency opened at authorized banks in Vietnam;- Collect transfers from the enterprise's foreign currency payment account according to Clause 2, Article 7 of Circular 15, meeting the requirements for prize payout or the requirement for foreign currency cash withdrawals as specified in Clause 2, Article 6 of Circular 15.
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