Decree No. 121/2021/NĐ-CP takes effect

Decree No. 121/2021/ND-CP, issued by the government on December 27, 2021, took effect on February 12, 2022, governing the business of prize electronic games for foreigners on the territory of the Socialist Republic of Vietnam¹. It replaced Decree No. 86/2013/ND-CP, Decree 175/2016/ND-CP and Decree 151/2018/ND-CP². The Ministry of Finance later issued Circular No. 39/2022/TT-BTC to guide its implementation³.

Under the decree, an enterprise may organize prize electronic games at only one site licensed by authorized State agencies³. The site must be separated from the enterprise's other business areas with its own entrance and exit, and must have electronic equipment and camera systems for constant monitoring and surveillance of all activity, with footage kept for at least 180 days from the date of recording¹. Rules for entry and exit must be posted in Vietnamese, English and other foreign languages if applicable¹. Businesses may operate every day of the year except days closed by decision of a competent State agency¹.

The players permitted at those sites are foreigners and Vietnamese people who reside abroad and legally enter Vietnam using passports or international travel documents granted by foreign authorities, with valid visas³. They must have full civil conduct capacity under Vietnamese law and voluntarily comply with the games' rules³. Players must carry papers proving they belong to the permitted group, follow the game rules and the operator's internal regulations, and fulfill their tax obligations³. They may not use the results of prize games to bet directly with one another, or harm security, order or safety at gaming sites³.

Circular No. 39/2022/TT-BTC sets the appraisal fee for the grant and extension of business certificates at VNĐ150 million (US$6,428)³. The sources differ on the fee for re-grant and adjustment: VietnamPlus reports VNĐ5 million⁴, while the Vietnam News text as published states $5 million³. Businesses may suspend the use of conventional currencies for management requirements but must inform finance departments and tax agencies at least five days in advance, with documentation, and must report resumption³. They must closely monitor the currencies, including format, quantity and type³.

A legal update by bizconsult describes further changes²:

• minimum charter capital rising from VNĐ200 billion to VNĐ500 billion²
• a requirement that the preceding fiscal year's profit be positive²
• slot machines to be brand new and certified by an independent inspection organization from a G7 state member²
• a maximum of one machine per five accommodation rooms, counted only on rooms already in operation²

It also states that the previous "registering" mechanism for conventional currency was replaced by "notifying" the Department of Finance and tax authority, and that the cap on hiring management fees, previously 4% of revenue, no longer applies².

What it means for players

The decree defines who may play at these venues: foreign passport holders and overseas Vietnamese with valid visas, not Vietnamese residents without foreign residency³. A legal update states that Decree 121 does not allow foreigners or overseas Vietnamese who entered Vietnam illegally, or who stayed past visa expiry, to take part². Players must carry documents proving they are in the permitted group, so identification checks at the venue are part of the rules rather than a discretionary policy³. Betting between players on game results is prohibited³. Winnings are paid by the operator, and players may receive and transfer or carry prize money in foreign currency out of Vietnam under the country's foreign exchange rules¹. General rules on who may gamble in Vietnam are set out in the Vietnam guide, with the wider regional picture in Gambling Laws in Asia and Gambling Law for Visitors and Expats in Asia.

What happens next

No further steps are dated in the sources. The Ministry of Finance said that after the appraisal it will inform enterprises about payment³.