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Commercial banks to provide casino-related services

Commercial banks will be allowed to trade and provide foreign exchange services related to casinos from October, local media reports.

The information was contained in Circular No10/2017/TT-NHNN on the management of foreign exchange for the casino business, which will come into effect from October 15 this year, Vietnam News reported.

Foreigners and Vietnamese holding foreign passports are able to gamble freely in the country’s casinos, while a decision was taken earlier this year for locals to enter some of the country’s casinos for the first time on a three-year trial basis.

The rules stipulated locals must be 21-years old, or above, and have proof of regular monthly income of VND10 million ($450), or be subject to third degree taxation according to the law on individual income tax.

More news from this jurisdiction

VietnamWednesday, Jan 03, 2018

Prime Minister Nguyen Xuan Phuc has agreed in principal to allow a casino to be added to the Laguna Lang Co. resort in central Vietnam, with a likely 2021 opening date, local media reports.

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The Ho Tram Project Company said it had begun construction work on the next phase of the $4.2 billion Grand Ho Tram IR project in Vietnam, breaking ground for the Kahuna Ho Tram Strip Condotel and Villa Development.

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Suncity Group Holdings has received shareholder approval for its acquisition of a 34 percent stake in the US$4 billion integrated resort project located in Hoi An, Vietnam.

VietnamThursday, Nov 02, 2017

Suncity Group Holdings on Wednesday confirmed its plans to acquire a 34 percent stake in a US$4 billion integrated resort project located in Hoi An, Vietnam.

VietnamWednesday, Oct 11, 2017

The chief executive officer of state-owned lottery company, Vietnam Lottery Co. Ltd. (Vietlott) resigned earlier this month, according to an announcement from the Ministry of Finance.

VietnamMonday, Sep 25, 2017

Suncity Group Holdings on Friday announced that it has entered into a Technical Services Agreement with the developer of the integrated resort in the Quang Ninh Province in Vietnam.

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The Ho Tram Project Company Ltd (HTP) has announced the launch of KAHUNA Ho Tram Strip condotel and villa project.