What minimum charter capital is required for a business that operates electronic games with prizes for foreigners?

Enterprises trading in prize-winning electronic games for foreigners need to have minimum charter capital as prescribed in Article 20 of Decree 121/2021/ND-CP, with the following content:

Business point

…

3. Conditions for issuance of Certificate of business eligibility include:

a) Enterprises with tourist accommodation establishments that have been rated 5 stars by competent state management agencies according to the provisions of the Law on Tourism and guiding documents;

b) There is an area to arrange a Business Point that meets the conditions specified in Article 5 of this Decree;

c) There is a person managing and operating the business location that meets the conditions and standards prescribed in Clause 1, Article 19 of this Decree;

d) Have a minimum charter capital of 500 billion VND and in the fiscal year immediately preceding the year the enterprise submits its application for a Certificate of Business Eligibility, the enterprise is profitable;

d) Have a business plan for prize-winning electronic games to ensure the maintenance of security, order and social safety according to the provisions of law.

Accordingly, businesses that operate prize-winning video games for foreigners need to have a minimum charter capital of VND 500 billion. In addition, in the fiscal year immediately preceding the year the enterprise submits its application for a Certificate of Business Eligibility, the enterprise is profitable.

What do businesses that sell video games with prizes for foreigners need to prepare to apply for a certificate?

To apply for a certificate based on the provisions of Article 21 of Decree 121/2021/ND-CP, businesses operating electronic games with prizes for foreigners need to prepare documents as follows:

Application for issuance of Certificate of eligibility for business according to Form No. 01 specified in Appendix II issued with this Decree.

A copy of the Investment Registration Certificate or Business Registration Certificate issued by a competent state management agency in accordance with the provisions of the Investment Law and the Enterprise Law, including business registration for the prize-winning electronic game industry.

A copy of the decision to rank the tourist accommodation establishment issued by the competent state management agency and documents proving that the enterprise owns the facility. that tourist accommodation.

Documents proving the number of accommodation rooms put into business at the tourist accommodation establishment.

Business Location layout diagram, including explanation of the following basic contents: doors to and from the Business Location; area where prize-winning electronic game machines are located; Cashier and treasury areas for counting cash and tokens and storing equipment for storing cash and tokens; area where electronic equipment and camera systems are arranged for monitoring, surveillance and fire prevention and fighting equipment.

Financial statements for the year immediately preceding the year the enterprise submits its application for a Certificate of Business Eligibility audited by an independent auditing organization for units with public interests. Audited financial statements are fully approved reports. In case the audit opinion is exceptional, the exceptional factor does not affect the conditions for issuance of Certificate of business eligibility specified in Point d, Clause 3, Article 20 of this Decree.

Copy of Certificate of eligibility for security and order for tourist accommodation establishments issued by the competent Police agency.

Draft Regulations on internal management, organization of the Internal Control Department, Internal regulations on money laundering prevention and game regulations.

Business plan, including main contents: objectives, quantity, types and types of electronic games with prizes, expected foreign currency revenue and expenditure needs, solutions to ensure security, order and social safety for business locations and implementation plan.

List and brief curriculum vitae of qualifications and work experience, copies of diplomas certified by competent state management agencies or copies accompanied by the presentation of the original for comparison to prove the professional qualifications and skills of the person managing and operating the Business Point.

At what agency does an enterprise that sells prize-winning electronic games for foreigners apply for a certificate?

Enterprises trading in prize-winning electronic games for foreigners who submit applications for certification at any agency must base on the provisions in Clause 1, Article 22 of Decree 121/2021/ND-CP, with the following content:

Procedures and procedures for granting Business Qualification Certificate

1. Enterprises submit 01 set of application documents for issuance of Certificate of Business Eligibility to the Ministry of Finance in one of the following forms:

a) Submit directly to the Ministry of Finance;

b) Via post;

c) Through the public service portal of the Ministry of Finance.

Within time limit 15 days from the date of receipt of the dossier, the Ministry of Finance shall notify the completeness and validity of the dossier and request the enterprise to supplement documents (if any) and send 06 sets of official dossier for appraisal according to the form specified in Points a and b of this Clause.

Thus, businesses that sell prize-winning electronic games for foreigners submit applications for certification at the Ministry of Finance.