The Prime Minister has signed the decree No.03 allowing Vietnamese to gamble at casinos in Vietnam. The decree will take effective on March 15.
The decree permits foreigners and overseas Vietnamese situated abroad with a valid foreign passport to gamble in casinos in Vietnam.
Under the decree, Vietnamese citizens can now also be admitted into domestic casinos, on a three year trial basis. After which, the government will decide whether or not to continue allowing domestic citizens to join casino gambling.
Vietnamese citizens admitted into casinos must be 21 years old or above with full capacity for civil acts of individuals according to Vietnamese law, have proof of regular monthly income of 10 million VND (450 USD) or be subjected to third degree taxation according to the law on individual income tax. The Ministry of Finance is responsible for providing citizens application forms for these conditions.
All players must have full capacity for civil acts of individuals according to Vietnamese law and be willing to accept the terms and conditions of the games and the casino’s regulations.
Players must buy tickets to the casino at 1 million VND (45 USD) for 24 hours entry and 25 million VND (1,126) per person monthly. Players must not be related to casino owners in any way.
Vietnamese players at casinos must exchange VND for tokens and vice versa.
Only enterprises with a Certification of Business will have the legal right to run a casino. The business must be a conditioned commercial act that is closely inspected by the appropriate government authority to ensure operations follow the decree’s regulations and other legal procedures, the decree shows.
The decree did not restrict the amount of capital for business owners, but differentiated between large casinos (of more than 2 billion USD) and small casinos (less than 2 billion USD in capital).
According to the Ministry of Finance, the revenue of 50 licensed foreign casino businesses has been estimated at more than 16,000 VND annually. So far, besides the gambling centers for foreigners licensed in small hotels, Vietnam has licensed 7 casino businesses, including 5 small-scale projects in city of Hai Phong, and Lao Cai, Da Nang, Quang Ninh provinces and 2 large projects in Quang Nam and Ba Ria - Vung Tau provinces.
Organisations and individuals linked to the games’ operations must comply with the decree in its entirety and other legal requirements.
The decree states that the casino business must be linked to the entrepreneur’s key commercial operations to help promote tourism, trade, diversify entertainment and recreation and enrich tourists’ experience, while assuring security and nation defence, social order and moral health.
The operation of and participation in gambling games must be transparent, coherent and honest, to protect the rights and legal benefits of parties involved.
The decree bans gambling between players on results of games at casinos; cheating during preparation, organisation or participation in the casinos; any action that affects security and order in casinos and using gambling machines, tables, tokens and other devices with content not approved by the government.
The decree also forbids the casino businesses from providing illegal gambling online or telecommunication networks, from smuggling and transferring foreign currency, precious gems and metals and other acts of money laundering, sponsoring terrorism and prostitution and paying out the wrong amount of prize money, among others.
Under the decree, the Ministry of Finance is assigned to coordinate with the Ministries of Planning and Investment, Public Security, Culture, Sports and Tourism, and the People Committee of provinces having casino business firms in checking their operations every 2 years.
The decree permits foreigners and overseas Vietnamese situated abroad with a valid foreign passport to gamble in casinos in Vietnam.
Under the decree, Vietnamese citizens can now also be admitted into domestic casinos, on a three year trial basis. After which, the government will decide whether or not to continue allowing domestic citizens to join casino gambling.
Vietnamese citizens admitted into casinos must be 21 years old or above with full capacity for civil acts of individuals according to Vietnamese law, have proof of regular monthly income of 10 million VND (450 USD) or be subjected to third degree taxation according to the law on individual income tax. The Ministry of Finance is responsible for providing citizens application forms for these conditions.
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Players must buy tickets to the casino at 1 million VND (45 USD) for 24 hours entry and 25 million VND (1,126) per person monthly. Players must not be related to casino owners in any way.
Vietnamese players at casinos must exchange VND for tokens and vice versa.
Only enterprises with a Certification of Business will have the legal right to run a casino. The business must be a conditioned commercial act that is closely inspected by the appropriate government authority to ensure operations follow the decree’s regulations and other legal procedures, the decree shows.
The decree did not restrict the amount of capital for business owners, but differentiated between large casinos (of more than 2 billion USD) and small casinos (less than 2 billion USD in capital).
According to the Ministry of Finance, the revenue of 50 licensed foreign casino businesses has been estimated at more than 16,000 VND annually. So far, besides the gambling centers for foreigners licensed in small hotels, Vietnam has licensed 7 casino businesses, including 5 small-scale projects in city of Hai Phong, and Lao Cai, Da Nang, Quang Ninh provinces and 2 large projects in Quang Nam and Ba Ria - Vung Tau provinces.
Organisations and individuals linked to the games’ operations must comply with the decree in its entirety and other legal requirements.
The decree states that the casino business must be linked to the entrepreneur’s key commercial operations to help promote tourism, trade, diversify entertainment and recreation and enrich tourists’ experience, while assuring security and nation defence, social order and moral health.
The operation of and participation in gambling games must be transparent, coherent and honest, to protect the rights and legal benefits of parties involved.
The decree bans gambling between players on results of games at casinos; cheating during preparation, organisation or participation in the casinos; any action that affects security and order in casinos and using gambling machines, tables, tokens and other devices with content not approved by the government.
The decree also forbids the casino businesses from providing illegal gambling online or telecommunication networks, from smuggling and transferring foreign currency, precious gems and metals and other acts of money laundering, sponsoring terrorism and prostitution and paying out the wrong amount of prize money, among others.
Under the decree, the Ministry of Finance is assigned to coordinate with the Ministries of Planning and Investment, Public Security, Culture, Sports and Tourism, and the People Committee of provinces having casino business firms in checking their operations every 2 years.
