Vietnamese to be permitted to gamble in casinos
Vietnamese to be permitted to gamble in casinos
Prime Minister Nguyen Xuan Phuc has signed a decree allowing Vietnamese to gamble at casinos in Viet Nam. It will come into effect on March 15.
The decree, titled 03/2017/ND-CP, allows foreigners and overseas Vietnamese situated abroad with a valid foreign passport to gamble in casinos in Viet Nam.
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 participate in casino gambling.
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.
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 VND10 million (US$450) 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.
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 dictates.
Players must buy tickets to the casino at VND1 million ($45) for 24 hours entry VND25 million ($1,126) per person monthly. Players must not be related to casino owners in any way.
Vietnamese players at casinos must exchange dong for tokens and vice versa.
Vietnamese citizens who violated national security or committed other crimes abroad resulting in more than three years of imprisonment will not be admitted to casinos. This includes those serving jail time, with or without bail, or any other form of legal punishment.
The decree did not restrict the amount of capital for business owners, but differentiated between large casinos (of more than $2 billion) and small casinos (less than $2 billion in capital).
The decree states that the casino business must be linked to the entrepreneur’s key commercial operations to help boost 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.
Organisations and individuals linked to the games’ operations must comply with the decree in its entirety and other legal requirements.
