Procedures for issuing certificate of eligibility for doing business of prize-winning electronic games for foreigners in Vietnam

Procedures for issuing certificate of eligibility for doing business of prize-winning electronic games for foreigners in Vietnam (Image from the Internet)

On June 26, 2024, the Minister of Finance issued Decision 1433/QD-BTC announcing amended administrative procedures in the field of Banking and Finance under the management function of the Ministry of Finance of Vietnam.

This includes amendments to the procedures for issuing certificate of eligibility for doing business of prize-winning electronic games for foreigners in Vietnam.

Procedures for issuing certificate of eligibility for doing business of prize-winning electronic games for foreigners in Vietnam

The procedures for issuing certificate of eligibility for doing business of prize-winning electronic games for foreigners in Vietnam are stipulated as follows:

(1) Implementation Sequence:

- Enterprises submit 01 set of application documents for the issuance of the Certificate of Eligibility for Business to the Ministry of Finance;

- Within 15 days from the date of receipt of the application, the Ministry of Finance will notify the completeness and legality of the documents and request the enterprise to supplement documents (if any) and send 06 official sets of documents for appraisal;

- Within 15 days from the date of receiving a valid set of documents, the Ministry of Finance will send the documents to relevant agencies for opinions, 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 applies for permission to organize electronic gaming with prizes;

- Within 15 days from the date of receiving all documents for opinion, the consulted agencies must provide written feedback to the Ministry of Finance and take responsibility for the contents provided;

- After receiving all relevant agencies' opinions, the Ministry of Finance will consolidate the opinions, coordinate with the Ministry of Public Security, Ministry of Culture, Sports and Tourism, the provincial People's Committee, and other relevant agencies to inspect the tourism accommodation facilities to determine the area designated for the Business Point meeting the conditions stipulated in Point a, Clause 2, Article 5 of Decree 121/2021/ND-CP; and determine the number of accommodation rooms put into business as a basis for determining the maximum number of electronic gaming machines with prizes that the enterprise is allowed to operate according to Clause 1, Article 7 of Decree 121/2021/ND-CP and consider deciding whether to issue or not issue the Certificate of Eligibility for Business;

- Within 60 days from the date of receiving 06 complete official sets of documents, the Ministry of Finance will consider and issue the Certificate of Eligibility for Business. In case of refusal to issue the Certificate of Eligibility for Business, the Ministry of Finance will notify in writing to the enterprise and state the reasons for the refusal;

- After being issued the Certificate of Eligibility for Business by the Ministry of Finance, the enterprise is responsible for adjusting and supplementing the business line of electronic gaming with prizes in the Certificate of Eligibility for Security and Order as stipulated by law before organizing electronic gaming with prizes.

(2) Composition of the Documents:

The application documents for the Certificate of Eligibility for Operating Electronic Gaming with Prizes for Foreigners include:

- An application form for the Certificate of Eligibility for Business;

- A copy of the Investment Registration Certificate or Business Registration Certificate issued by a competent state authority according to the provisions of the Investment Law, Enterprise Law, with the registered business line of electronic gaming with prizes;

- A copy of the decision on ranking the tourism accommodation facility issued by a competent state authority and documents proving the enterprise owns the tourism accommodation facility;

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

- A layout of the Business Point, including explanations of the following main contents: entrance and exit of the Business Point; area for electronic gaming machines with prizes; cashier area, fund warehouse, cash counting and storing area; area for the electronic equipment and camera system for monitoring and surveillance, and fire prevention and fighting equipment;

- Financial statements of the year preceding the year the enterprise submits the application for the Certificate of Eligibility for Business audited by an independent auditing organization for public interest units. The audited financial reports must be fully accepted.

In  case  there  are  except  clauses  in  the  audit  opinion,  such  exceptions  must  not  affect  the  conditions  for  issuance  of  the  Certificate  of  Eligibility  for  Business  as  stipulated  in  Point  d,  Clause  3,  Article  20  of  Decree 121/2021/ND-CP;

- A copy of the Certificate of Eligibility for Security and Order for the tourism accommodation facility issued by the competent Public Security authority.

- Draft Internal Control Regulations, organization of the Internal Control Department, internal regulations on anti-money laundering, and Game Rules.

- Business plan, including main contents: objectives, quantity, types, and forms of electronic gaming with prizes, estimated revenue and expenditure needs for foreign currency, solutions to ensure security, order, and social safety for the Business Point, and implementation plan.

- List, brief resume of the education and work experience, copies of relevant diplomas with authentic certifications by a competent state authority or copies accompanying the originals for comparison to prove the managerial, professional, and technical qualifications of the person in charge of managing and operating the Business Point.

More details can be found in Decision 1433/QD-BTC dated June 26, 2024.

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