Circular No. 39/2022/TT-BTC was issued recently by the Ministry of Finance and guides a number of articles in Government Decree No. 121/2021/ND-CP on the business of prize-winning electronic gaming of foreigners. Among other things, the fee for appraisal, granting, or renewing a Certificate of Eligibility is VND150 million ($6,412).

Fees for re-appraisal, re-issue, and adjustment of business eligibility certificates are VND5 million ($214). Fees for appraisal of the granting, re-issuance, adjustment, or extension of business eligibility certificates according to the above provisions will come from the central budget.

After verifying that the enterprise is eligible for a grant, re-grant, adjustment, or extension of the Certificate of Eligibility, the Ministry of Finance will notify the enterprise to pay the appraisal fee as prescribed by law.

Notably, the Ministry of Finance specified that in order to receive a Certificate of Eligibility, businesses must meet five conditions: be registered as a prize-winning video gaming business and own 5-star rated tourist accommodation; have a separate area that meets the conditions for organizing a prize-winning video gaming business; having a manager or executive with a university degree or higher and at least three years of experience in managing such business; have minimum charter capital of VND500 billion ($21.4 million); and have a business plan to ensure the maintenance of security, social order and safety.