Operating a casino in Vietnam requires a minimum project investment of USD 02 billion with at least 50% disbursed before the certificate of eligibility is issued; prize electronic gaming for foreigners requires both charter capital and owner’s equity of at least VND 500 billion. Both sectors are licensed by the Ministry of Finance, but foreign capital rules differ: casinos face no specific ratio cap under Decree 03/2017, while prize gaming caps foreign capital at 49% under Vietnam’s WTO commitments.
1. Applicable legal framework
- Decree 03/2017/ND-CP (16/01/2017, effective 15/3/2017) on casino business — amended by Article 8, Clause 1 of Decree 151/2018/ND-CP and Decree 145/2024/ND-CP; consolidated document 06/VBHN-BTC of 2019. Note: the draft decree replacing Decree 03/2017 (3rd draft) has not been issued — do not rely on the draft.
- Resolution 08/2025/NQ-CP (effective 26/11/2025): allows eligible Vietnamese to gamble at casinos in Phu Quoc and on a 05-year pilot basis in Ho Tram (Ho Chi Minh City) and Van Don (Quang Ninh).
- Resolution 24/2026/NQ-CP (29/4/2026): simplifies procedures for the casino business eligibility certificate.
- Decree 121/2021/ND-CP (27/12/2021) on prize electronic gaming for foreigners — amended by Decree 86/2026/ND-CP (27/3/2026, effective 15/5/2026).
- “Betting and casino business” is on the list of sectors subject to conditional market access for foreign investors (Section B(16), Appendix I of Decree 96/2026/ND-CP).
2. Casinos — licensing conditions (Decree 03/2017)
Conditions for the investment registration certificate for an integrated resort project with a casino (Article 23):
- (a) Approval in principle from the competent authority for the casino project;
- (b) Casino business is only licensed together with an integrated project containing at minimum: hotel, service, tourism, commercial, entertainment areas and a convention center;
- (c) Minimum project investment of USD 02 billion;
- (d) A feasible plan to control and mitigate negative impacts.
Conditions for the casino business eligibility certificate (Article 24, Clause 1, as amended by Article 8, Clause 1 of Decree 151/2018):
- (a) A valid investment registration certificate/investment policy decision covering casino operations;
- (b) At least 50% of the registered investment capital disbursed;
- (c) A designated casino gaming area meeting Article 5, Clause 2;
- (d) Gaming-area managers/executives with a university degree or higher, at least 01 year of experience managing casino operations, and not falling into categories prohibited from establishing/managing enterprises;
- (dd) A business operation plan per Article 25, Clause 6.
Certificate validity (Article 27, Clause 2): as requested by the enterprise but not exceeding the validity of the investment registration certificate/investment policy decision and no more than 20 years from its effective date. Extension (Article 30): only for large-scale casino businesses (total investment of at least USD 02 billion — Article 2, Clause 15); applications submitted at least 06 months in advance.
Licensing authority: the Ministry of Finance (appraisal and issuance — Article 26).
Eligible players (Article 9 of Decree 03/2017 and Resolution 08/2025/NQ-CP): foreigners, overseas Vietnamese; eligible Vietnamese at locations under Resolution 08/2025 — a conditional pilot, not an open door.
3. Prize electronic gaming for foreigners (Decree 121/2021, amended by Decree 86/2026)
Conditions for the business eligibility certificate (Article 20, Clause 3; Points a and d amended by Articles 8 and 9 of Decree 86/2026):
- (a) A 5-star rated tourist accommodation establishment — hotels (excluding floating hotels), tourist villas, tourist apartments;
- (b) A designated gaming area meeting Article 5;
- (c) Gaming-area managers/executives meeting Article 19, Clause 1 (amended by Article 8 of Decree 86/2026): full civil act capacity, university degree or higher, at least 03 years of experience managing prize electronic gaming operations;
- (d) Both charter capital and owner’s equity of at least VND 500 billion — note both are required, not charter capital alone; each additional certificate at another accommodation establishment requires an extra VND 500 billion in both charter capital and owner’s equity; the enterprise must have been profitable in the fiscal year preceding the application year;
- (dd) A business plan ensuring security, order and social safety.
Each accommodation establishment may hold only 01 certificate; certificates are issued only to the enterprise owning the establishment.
Certificate validity (Article 23, Clause 2): as requested by the enterprise but not exceeding the investment/enterprise registration certificate’s validity and no more than 10 years from the certificate’s effective date. Extension (Article 26, amended by Article 13 of Decree 86/2026): apply 06 months in advance; conditions — meeting Article 20, Clause 3, Points a, b, c; charter capital and owner’s equity meeting Point d; no certificate revocation or operation suspension 02 or more times in the 10 years before application.
New points of Decree 86/2026 (effective 15/5/2026): notify commencement/suspension at least 15 days in advance to the Ministry of Finance, provincial Department of Finance, provincial police and provincial tax authority (amended Article 6); mandatory camera surveillance of entry/exit areas during business suspension; tighter control of persons entering/leaving gaming areas (amended Article 11); stronger anti-money-laundering and counter-terrorism-financing measures.
Licensing authority: the Ministry of Finance (eligibility certificate — Article 22); the State Bank of Vietnam (foreign currency collection/payment licenses).
4. Foreign capital ratios — two distinct regimes
- Casinos: Decree 03/2017 sets no specific foreign capital ratio cap; the sector is subject to conditional market access (Section B(16), Appendix I of Decree 96/2026).
- Prize electronic gaming: under Vietnam’s WTO Schedule of Commitments (CPC 964**), foreign investors may only invest via a business cooperation contract or joint venture with an already-licensed Vietnamese partner; the foreign party’s capital contribution may not exceed 49% of the joint venture’s legal capital.
5. Comparison summary
- Capital: casinos — minimum USD 02 billion project investment with at least 50% disbursed before the eligibility certificate; prize gaming — both charter capital and owner’s equity of at least VND 500 billion (plus 500 billion per additional certificate), profitable in the preceding year.
- Foreign capital ratio: casinos — no specific cap in Decree 03/2017; prize gaming — no more than 49% (WTO commitments).
- Gaming-area management personnel: casinos — university degree plus at least 01 year of casino management experience; prize gaming — university degree plus at least 03 years of experience.
- Licensing authority: the Ministry of Finance for both (plus the State Bank for foreign exchange in prize gaming).
- Certificate validity: casinos up to 20 years; prize gaming up to 10 years.
6. Key notes
- Do not cite the draft decree replacing Decree 03/2017 (not issued) or figures from the draft (e.g., ticket prices) as current rules.
- Vietnamese may gamble only if eligible at pilot locations under Resolution 08/2025 — not an open door.
- For prize gaming, the capital requirement is both charter capital and owner’s equity of at least VND 500 billion — missing either one means non-compliance.
7. Frequently asked questions
What is the minimum capital for a casino project in Vietnam?
USD 02 billion of investment in the integrated resort project with a casino (Article 23 of Decree 03/2017); at least 50% of the registered investment must be disbursed before the casino business eligibility certificate is issued.
How long is the casino eligibility certificate valid?
Up to 20 years, not exceeding the validity of the investment registration certificate/investment policy decision (Article 27, Clause 2).
What are the capital conditions for prize electronic gaming?
Both charter capital and owner’s equity of at least VND 500 billion; each additional certificate at another establishment requires an extra VND 500 billion in both; the enterprise must have been profitable in the fiscal year preceding the application year.
How much can foreign investors contribute to a prize gaming project?
No more than 49% of the joint venture’s legal capital, under Vietnam’s WTO commitments (CPC 964**); investment only via business cooperation contracts or joint ventures with an already-licensed Vietnamese partner.
Can Vietnamese gamble at casinos?
Eligible Vietnamese may gamble at locations under Resolution 08/2025/NQ-CP (Phu Quoc; 05-year pilots in Ho Tram — Ho Chi Minh City and Van Don — Quang Ninh). This is a conditional pilot, not an open door.
Note: This article provides reference information only and is not legal advice. The content was researched from statutory legal texts and drafted by AI; it will undergo FLAT Law Firm’s QA council review and approval before publication; it is not legal advice from a human lawyer. Regulations may change; please check the current legal texts before relying on this information.
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