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posted 2 years ago
It is important for foreign businesses seeking to engage in e-gambling in Vietnam to familiarize themselves with local laws and consult with experienced legal professionals. Breaking the law can lead to severe legal penalties, including imprisonment, fines, and deportation.
The issuance of Decree No. 121/2021/ND-CP by the Vietnamese government has brought changes to regulations on electronic gambling for foreign businesses. Decree No. 121, which was effective from February 12th, 2022, has been detailed further by Circular 39/2022/TT-BTC and Circular 09/2022/TT-NHNN, issued on June 24th, 2022, and July 12th, 2022, respectively.
Decree 121 mandates that only foreigners and overseas Vietnamese who legally enter Vietnam and possess valid passports or international travel documents issued by competent foreign authorities, along with valid visas, can participate in e-gambling. These individuals must also have full civil capacity as per Vietnamese law and willingly adhere to the Game Rules and other provisions listed in Decree 121.
While the basic requirements such as having a five-star tourist accommodation establishment, an area that satisfies regulation conditions for the Business Location, trained managers or operators with over three years of experience, and a business plan are still in effect, Decree 121 sets higher standards for e-gambling business enterprises.
In short, foreign businesses may still engage in e-gambling activities if they comply with Vietnamese law and regulations. The government has clearly defined the legal framework for foreign investors to operate e-gambling businesses in Vietnam, with the condition of acquiring a valid license from Vietnamese authorities. To avoid serious legal consequences, it is crucial for foreign businesses to adhere to the local laws and regulations governing e-gambling in Vietnam.
#gambling #business
For the full detail of this post, please reference on this link: http://hmlf.vn/regulations-on-e-gambling-for-foreigner-business-in-vietnam/
Harley Miller Law Firm “HMLF”
Head office: 14th floor, HM Town building, 412 Nguyen Thi Minh Khai, Ward 05, District 3, Ho Chi Minh City.
Phone number: +84 937215585
Website: hmlf.vn
Email: miller@hmlf.vn
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