Vietnam – online gambling regulations foreign investors should be aware of
Decree No. 72/2013 / ND-CP relating to the management, provision and use of Internet services and online information; Decree No. 103/2009 / ND-CP promulgating the Regulation on Cultural Activities and Commercial Provision of Public Cultural Services; Vietnam’s specific commitments to the WTO in services
Business Establishment: Foreign investors who wish to engage in the online gaming distribution service must have a business cooperation contract or joint venture with a Vietnamese partner who is eligible to provide online gaming business. In the case of a joint venture, the capital of foreign investors must not exceed 49%.
The joint venture can take the form of a limited liability company or a joint stock company. Typically, there are more options for raising capital in a corporation.
Only Vietnamese companies can apply for G1, G2, G3 and G4 gaming license in Vietnam. A Vietnamese entity is defined under the Business Law of 2014 as an entity established or registered to establish under Vietnamese laws and has its headquarters in Vietnam.
Classification of online games: G1: Video games which have an interaction between several players via the game server G2: Video games which have only one interaction between the players and the game server G3: Video games which have an interaction between multiple players without interaction between players and the game server G4: video games downloaded from the Internet without interaction between players and between players and the game server
Licensing procedures for G1 games: The G1 game license expires after 10 years and you can only extend it once for an additional year. The Ministry of Information and Technology seeks to reduce the validity of the license to only 5 years.
Conditions to apply for the G1 gaming license: -Must have a registered office and a contact number -Registered for a domain name to be used to provide the service -At least 1 staff manages 2 servers -The company manager must have at least minus a bachelor’s degree -Sufficient financial capacity, adequate gaming systems -Have a backup plan for equipment and connection as well as a data backup plan -Have professional measures to manage the content of the gaming forum
Important documents of the application file: -Documents proving the ownership of the domain name -Leasing agreement / ownership of the commercial location -Payment plan of the gaming service -List of partners providing the payment assistance service -Detailed description host devices
After obtaining the G1 game license, you will need to obtain approval for the script content for each G1 game in order to operate the G1 game.
Conditions for requesting approval of script content for each G1 game: -The content of the game must be culturally appropriate -The age of the game must be appropriate to the content -Have measures to manage the player account
During the operational phase, the game provider must ensure that it manages the time of the under-18 player so as not to exceed 180 minutes in 24 hours each day