The Governor of the State Bank of Vietnam promulgates a Circular providing guidance on foreign exchange management for casino business.
Casino enterprises must exchange Vietnamese Dong or other currencies for tokens and vice versa for gamblers.The exchange rates for Vietnamese Dong or other currencies to tokens and vice versa shall base on the buying rates announced by the licensed bank where the casino enterprise's specialized foreign currency account is opened on the transaction date. In case the transaction date falls into weekly days off or public holidays, the exchange rates shall base on the rates announced in the previous transaction date.
A casino enterprise may issue certificate of winnings, prize and exchange for tokens for a foreign gambler using the Template stated in the Appendix No. 05 enclosed herewith. Based on a certificate of winnings, prize and exchange for tokens presented by a foreign gambler or a casino enterprise (upon the authorization by that foreign gambler), the licensed bank shall issue certificate of cash in foreign currency carried abroad to that foreign gambler using the Template stated in the Appendix No. 06 enclosed herewith. A certificate of winnings, prize and exchange for tokens, or a certificate of cash in foreign currency carried abroad shall be valid within 30 (thirty) days from the issued date.
A casino enterprise may accept bank cards of gamblers for exchange for tokens when they play prize-winning games in a casino. It may only receive cash in Vietnamese Dong from an acquiring bank. A casino enterprise and gamblers shall themselves carry out an agreement on use of bank cards in casino business in conformity with applicable regulations on provision of payment services and payment facilities, and the law on foreign exchange management,
The validity of a License after conversion made in accordance with regulations in Article 35 of the Government’s Decree No. 03/2017/ND-CP dated January 16, 2017 on casino business shall not exceed the remaining validity of the Certificate of eligibility for casino business or the Certificate of investment registration. In case a casino enterprise does not carry out procedures for a Certificate of eligibility for casino business and the Certificate of investment registration does not specify the period of business operation, the validity of the License after conversion as regulated shall not exceed 20 years from the day on which it takes effect.