Today, establishing businesses became a common trend among organizations and individuals in the economy. This rose from the importance of businesses to the growth of the economy as well as the living standard of people around the world because businesses produce goods and services to meet the main needs of the whole society. Media, one of the essential services that growing strongly on the list of necessary levels according to people’s needs. So, how to establish a media company and how to carry out the procedures? This article of LSX legal firm will give you: “Procedures to establish a media company in Vietnam”
Legal grounds
- Law on Enterprise 2020
- Decree 01/2021/ND-CP
The concept of “Company”
A company means the association of two or more people (individuals or legal entities) by a legal event in which the parties agree to use their assets or abilities to carry out activities to achieve a common goal. Enterprise: a concept that people often use to replace “company”. However, this can be considered a systematic mistake, which is deeply rooted in the thought of each individual, that mentioning the company is referring to an enterprise, people always equate company and business as one.
Clause 10, Article 4 of the Law on Enterprises 2020 defines enterprises as follows:
“Article 4. Definitions
10. “enterprise” means an organization that has a proper name, assets, premises, is established or registered in accordance with law for business purposes.”
On the other hand, from a linguistic point of view, an enterprise legally established as an economic organization with its own name, head office, and operating for profit-making purposes.
Currently, Vietnam has 7 main types of enterprises:
- Sole proprietorship
- State-owned enterprise
- Cooperatives
- Joint-stock company (JSC)
- Limited liability company (LLC)
- Partnership
- Joint-venture company
Accordingly, only joint-stock companies and limited liability companies are considered companies, the rest are other types of enterprises.
Therefore, it can be understood that the company is a subset of enterprises, has a part of the basic characteristics of the enterprise, such as:
- The owner’s assets are completely separate from the company;
- The owner has limited liability to the company;
- Ability to transfer shares and contributed capital;
- Centralized and unified management;
- Having legal status.
Business lines of media industry
Some typical professions of a media company:
- Film, television program production, sound recording, and music publishing.
- Radio and television activities.
- Telecommunication services.
- Consulting services for computer-related activities.
- Information services.
- News service.
- Advertising services and market research.
- Organize introduction and trade promotion.
- Printing and printing-related services.
Business lines registration code
There are many lines in the media industry, so businesses should choose the code that best suits their business capabilities. The business lines in the enterprise certificate are recorded and coded according to the fourth-level industry in the system of economic sectors of Vietnam. Some of the codes:
- Post-production activities – code 591.
- Film, video, and television program production – code 591.
- Music recording and publishing – code 592.
- Film, video, and television program publication – code 5913.
- Advertising – code 7310.
- Creative, arts, and entertainment activities – code 9000.
- Software publishing – code 5820.
- Market research – code 7320.
Basic information to establish a media company
- Name of the company: The name must not overlap or similar to other businesses. The proper name shall consist of letters in the Vietnamese alphabet, the letters F, J, Z, W, numbers, and symbols. Also, displays the headquarters, branches, representative offices, and business locations of the enterprise and printed or written on transaction documents, records, and printed materials published by the enterprise.
- Also, address of the business: The company must have a specific, clear, and accurate address.
- Capital: Companies must declare the level of charter capital in accordance with the provisions of the law when doing business in the media industry. Since the media business is not a conditional business, there are no minimum or maximum capital requirements.
- Shareholders/Founding members: a joint-stock company, a limited liability company with two or more members, or a partnership must specify the capital contribution ratio together with individual legal papers such as ID card or passport.
Legal representative: can be one or more depending on the needs of the company. When submitting a business registration application, the company must provide personal information along with the title of the representative. In case the legal representative is hired by the company, it is necessary to provide a labor contract and appointment decision. - Business registration code: companies register the business lines as mentioned above.
Procedures to establish company a media company
Step 1: Prepare dossiers
- The application form submits to the business registration office requesting the certificate to establish a media company.
- Draft of company charter.
- List of founders as well as members.
- Authenticated legal papers of members.
- Valid identification papers of the authorized representative and the legal representative.
- Legal capital confirmation document.
- Certificate of business registration (for organizations).
- Investment registration certificate for foreign investors.
Step 2: Submit dossiers
Submit the application at the Business Registration Office of the Department of Planning and Investment at the province level where you plan to locate the head office of your Company.
Currently, there are two forms to submit an application:
- Register directly: apply at the “one-stop” department of the Business Registration Office. However, in Hanoi, this method is no longer applied.
- Besides, online business registration: submit your application on the National Business Registration Portal (Address: https://dangkykinhdoanh.gov.vn). After the online application is valid, you will have to go directly to the “one-stop” department to return the scanned copy (hard copy) when submitting it online. However, this method is relatively complicated, requiring you to have skills and knowledge about registering a business account.
Once you have submitted your application, you will receive a receipt for your application. Then, usual processing time for applications will be 3 working days.
Step 3: Receive result
According to the schedule on the appointment, you return to the “one-stop” department of the Business Registration Office to receive the results. There are two possible scenarios:
- Dossiers valid: You will receive a Certificate of Business Registration as a result and a notification to the tax authorities.
- In contrast, dossiers invalid: The Business Registration Office will have a document instructing you to amend the dossiers in accordance with the provisions of the law. After the amendments and supplements to your application according to this guide, then resubmit your application as in Step 2.
Step 4: Post-establishment procedures.
Receiving a Business Registration Certificate is just the first step in putting your company into operation. After that, you have to do the following series of procedures:
- Notice the use of the company’s seal sample.
- Bank account notice (if your company registers a bank account).
- Tax procedures such as license declaration and payment of license fees, Tax on corporate headquarters inspection,…
- Trademark protection (if you need it).
- …
After carrying out these procedures, your Company can go into operation.
LSX legal firm’s service on company establishment
When establishing a company, people must carry out the procedure following the law at the competent business registration authority (under the Law on Enterprise 2020). The process of establishing a business includes many different steps and phases. If you are not familiar with the law, this process may take a lot of time.
With a team of experienced, reputable, and professional consultants; The firm is always ready to support and work with clients to solve legal difficulties.
Furthermore, using our service, you do not need to do the paperwork yourself, We guarantee to help you prepare documents effectively and legally.
Also, you will not have to waste time preparing the application, submitting application, or receiving results. At those stages, we will help you do it smoothly.
After all, LSX provides the service with the desire that customers can experience it the best way. Additionally, we guarantee the cost to be the most suitable and economical for customers.
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Related questions
Firstly, Declaration of trademark protection registration (including a list of goods and services bearing the mark) made according to the form No. 04-NH (02 copies);
Secondly, Trademark sample (9 attached samples, in addition to 1 sample attached on the Declaration);
Thirdly, Documents proving the right to register (business registration certificate, agreement contract, confirmation letter, decision or establishment license, organization charter) (01 copy);
Fourthly, Power of attorney if available (01 copy);
Next, Documents of payment of state fees according to regulations (01 copy);
Equally important, An application for registration of a collective mark or a certification mark. Also, there must be a Regulation on the use of collective marks/ Regulations on the use of certification marks;
Lastly, documents proving the right to use/register a trademark containing special signs (name, symbol, flag, badge of an agency or organization, certification mark, checkmark, warranty mark, character name, icons, trade names, indications of origin, awards, medals, or representative signs of products, signs of protection scope against other technological designs) (01 copy).
The trademark protection title is valid from the date of issue to the end of 10 years from the filing date. Besides, when it expires, the owner can extend it further, without limiting the number of extensions.
Contact LSX
Finally, hope this article is useful for you to answer the question about “Procedures to establish a media company in Vietnam”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
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