Procedures for issuance of Certificate of eligibility for doing business of prize-winning electronic game for foreigners in Viet Nam

Procedures for issuance of Certificate of eligibility for doing business of prize-winning electronic game for foreigners in Viet Nam

Procedures for issuance of Certificate of eligibility for doing business of prize-winning electronic game for foreigners in Viet Nam

The original article Procedures for issuance of Certificate of eligibility for doing business of prize-winning electronic game for foreigners in Viet Nam

Currently, tourism is growing, and the demand for entertainment of foreigners in Vietnam is increasing. Therefore, the State officially licensed the business of prize-winning electronic games for foreigners in the Vietnamese territory. According to Decree 121/2021/ND-CP, business trading in prize-winning electronic games for foreigners must have a Certificate of eligibility to trade in prize-winning electronic games for foreigners. What is the procedure for granting this Certificate? What kind of documents need to be prepared? Let’s find out with Nghiep Thanh Law through the article below.

Conditions for issuance of certificate

Business wants to be issued a certificate of eligibility to trade in prize-winning games for foreigners must satisfy the following conditions[1]:

+ Business having registered the business line of trading in prize-winning electronic games.

+ Business owning tourist accommodation that has been rated 5 stars by State management agency.

+ Having an area to arrange a prize-winning electronic game Business Facility[2].

+ Having someone to manage and operate the Business Facility meeting the conditions and standards[3].

+ Having a minimum charter capital of VND 500 billion and making a profit in the next fiscal year.

+ Having a business plan for prize-winning electronic games to ensure the maintenance of social security, order and safety.

Procedures for issuance of a Certificate of eligibility for doing business[4]

Document

Step 1: Preparing a dossier[5]

Business shall prepare a dossier including:

+ An application form for a Certificate of eligibility for business, based on Form No. 01 – Appendix II[6].

+ A copy of the Investment Registration Certificate or the Certificate of Business Registration with registration of the business line of trading in prize-winning electronic game.

+ A copy of the decision on rating the tourist accommodation issued by the competent state management agency and documents proving that the business is in the name of that tourist accommodation.

+ Documents proving the number of accommodation rooms that have been put into business at the tourist accommodation.

+ Diagram layout of the Business Facility, in which the following basic contents are explained: the entrance and exit of the Business Facility; the area where prize-winning electronic game machines are placed; cashier area, treasury counters for counting cash and tokens and storing equipment for cash and tokens; area for arranging electronic equipment and camera system for monitoring, supervising and fire prevention and fighting equipment.

+ The financial statement (report of full approval) of the year preceding the year the business submits the dossier is audited by an independent audit organization for a public interest unit.

Note: in the case of an audit opinion, the exception does not affect the conditions for issuance of the Certificate of eligibility for business in terms of charter capital and profitable business in the fiscal year preceding the year of submitting the dossier.

+ A copy of the Certificate of satisfaction of security and order conditions for the tourist accommodation

+ Draft Internal Management Regulations, organization of the Internal Control Department, internal regulations on Anti Money Laundering, and Game Rules.

+ Business plan, including the following main contents: objectives, quantity, categories, and types of prize-winning electronic games, estimate of demand for foreign currency revenue and expenditure, solutions to ensure security, order, and social safety for Business Facility, and implementation plan.

+ List, curriculum vitae of qualifications and working experience, copies of diplomas notarized by competent state management agencies, or copies enclosed with the presentation of the originals for comparison and proof of competence. professional qualifications and skills of the manager and operator of the Business Facility.

Step 2: Submitting, amending, and supplementing the dossier

The business shall submit the prepared dossier to the Ministry of Finance via post, directly, or through the public service portal of the Ministry of Finance.

Within 15 days from the date of receipt of the dossier, the Ministry of Finance shall notify the completeness and validity and request the business to supplement (if any).

When the dossier is complete and valid, the business shall submit 06 sets of dossiers to the Ministry of Finance by post or directly.

Step 3: Receiving results

Within 60 days from the date of receipt of all 06 official sets of dossiers, the Ministry of Finance considers and issues a Certificate of eligibility for business. In case of refusal to issue the Certificate of eligibility for business, the Ministry of Finance shall notify in writing the business and clearly state the reasons for the refusal.

 

The content above is the advice on “Procedures for issuance of Certificate of eligibility for doing business of prize-winning electronic game for foreigners in Viet Nam”.

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Nghiep Thanh Law thank you for reading and sharing. We look forward to receiving your feedback and suggestions.

 

Translator: Le Khanh Linh

Content writer: Le Tien Thanh

Instructor: Nguyen Linh Chi

Admin: Lawyer Thuan

 

[1] Article 20 Decree 121/2021/ND-CP.

[2] Article 5.2 Decree 121/2021/ND-CP.

[3] Article 19.1 of Decree 121/2021/ND-CP.

[4] Article 22 of Decree 121/2021/ND-CP.

[5] Article 21 of Decree 121/2021/ND-CP.

[6] Issued together with Decree 121/2021/ND-CP.

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