Criteria for Vietnamese casino gamblers released

The Ministry of Finance (MoF) has released a draft circular guiding a number of articles in Government Decree No.03 from earlier in the year on the casino business.

Vietnamese citizens aged 21 years and above who wish to gamble at casinos in Vietnam must have documentation proving financial capacity, including one of the following: personal income tax settlements from Level 3 upwards (taxable income from VND10 million ($440)), finalized by tax authorities within one year prior to entering a casino; statements of monthly income and salary that show a minimum income of VND10 million; a notarized or authenticated contract of leasing a property with a total monthly rental of at least VND10 million; a bank savings book or bank statements with a term of one-year or more with monthly interest income of a minimum of VND10 million; or other documents proving regular monthly income in excess of VND10 million.

Gamblers must submit such documents when entering casinos involved in the pilot project allowing entry to Vietnamese citizens. Casinos are responsible for retaining such documents for a minimum of three years, to serve the management, supervision, and inspection activities of State management agencies.

The draft also noted that in order to enter a casino, citizens must purchase tickets, the proceeds of which are to be submitted to the local budget. Such money will be spent on social welfare, community services, and ensuring security and social order. Localities must allocate a minimum of 60 per cent of money from casino tickets to education, training, vocational training, and health.

In order to be permitted to allow entry to Vietnamese people, casinos within the pilot project must prove their projects are fully completed, complete investment capital disbursements, including reports on disbursements for integrated entertainment complexes with casinos, and must be audited by an independent auditing organization authorized to operate in Vietnam.

At the end of the accounting period (quarterly and yearly), casino businesses must prepare and submit financial statements and statistical reports in accordance with the law. Legal representatives of casino businesses are responsible for the accuracy and truthfulness of such reports

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