Cinema today contributes a significant part to socio-economic life in the world in general and in Vietnam in particular. The successful footage of movies made by the contributions of film studios – cinematographic companies. So how are movie procedures and conditions to establish cinematographic company done? In this article, LSX legal firm provides: “Procedures to establish cinematographic company in Vietnam”
Legal grounds
- Law No. 62/2006/QH11 on cinema
- Decree 98/2020/ND-CP
Conditions to establish cinematographic company
According to Article 14 of the Law on Cinema 2006, the conditions for establishing a cinematographic business:
“Article 14.- Conditions for the establishment of cinematographic enterprises
1. Conditions for the establishment of a cinematographic enterprise are as stipulated in the Enterprise Law.
2. Apart from the establishment conditions required by the Enterprise Law, a film production enterprise must have a certificate of full satisfaction of business conditions granted by the Ministry of Culture and Information.
Conditions for acquiring a certificate of full satisfaction of business conditions include:
a/ Having legal capital as stipulated by the Government;
b/ Having the director or general director who is a Vietnamese citizen permanently residing in Vietnam.”
Besides, to be granted a Business Registration Certificate, you must meet the minimum legal capital requirements.
“1. The legal capital of 1,000,000,000 VND (one billion VND), determined by one of the following documents:
a) The owner’s decision on capital transfer for a state-owned enterprise, single or multi-member state limited liability company(the owner as organization);
b) Minutes of capital contribution of the founding shareholders, in the case of a joint-stock company, or of the founding members, in the case of a limited liability company with two or more members;
c) Registration of investment capital of the business owner, for sole proprietorships, partnerships, and limited liability companies (owner as an individual).
2. The amount of capital contributed in cash must certified by the bank licensed to operate in Vietnam about the deposit amount of the founding members. The deposit amount must equal to the capital contributed by the founding members and can only disbursed after the enterprise granted a business registration certificate.
…”
Procedures to establish cinematographic company
The dossier of application for a certificate of full satisfaction of business conditions of a film production establishment comprises:
- An application for a certificate;
- Written certification of the film production enterprise’s legal capital, issued by a competent organization or agency;
- A copy of the paper certifying the permanent residence in Vietnam of the nominated director or general director of the film production enterprise.
Within thirty days after the date of receipt of complete and valid dossiers, the Ministry of Culture and Information shall grant the certificates, in case of refusal, it shall reply in writing, clearly stating the reasons therefor.
Registration for the establishment of cinematographic enterprises:
- Firstly, organizations and individuals establishing cinematographic enterprises shall complete the established procedures as provided for in the Enterprise Law and this Law.
- Secondly, within seven working days after the date of issuance of a business registration certificate, the business registration agency shall send a copy of the certificate to a competent cinematography state management agency.
- Thirdly, when changing the name or address of its headquarters, branch, or representative office (if any), or business objectives and business lines, the enterprise owner’s investment capital, the enterprise’s representative at law, or other issues in the contents of the dossier of application for business registration, the cinematographic enterprise’s director or general director shall notify the competent cinematography state management agency thereof within seven working days as from the date of registration with the business registration agency.
Violations against regulations on business operations requiring business licenses
Currently, the law stipulates very clearly the level of handling violations when doing business without a Business license.
According to article 6 of Decree 98/2020/ND-CP:
Article 6. Violations against regulations on business operations requiring business licenses
1. A fine ranging from VND 3.000.000 to VND 5.000.000 shall be imposed for committing one of the following violations:
a) Making interlineations, erasure or alteration of the business license;
b) Leasing, lending, pledging, mortgaging, selling or transferring the business license;
c) Hiring, borrowing, buying or receiving pledge, mortgage or transfer of the business license.
2. A fine ranging from VND 5.000.000 to VND 10.000.000 shall be imposed for failing to comply with the scope, subjects, scale, duration, location, place or products specified in the business license.
3. A fine ranging from VND 10.000.000 to VND 15.000.000 shall be imposed for committing one of the following violations:
a) Failing to obtain the business license when trading in goods or services classified as conditional business lines;
b) Using an expired business license when trading in goods or services classified as conditional business lines;
c) Failing to meet business conditions during the trading in goods or services classified as conditional business lines;
d) Using the business license of another trader.
4. A fine ranging from VND 15.000.000 to VND 20.000.000 shall be imposed for failing to stop doing business during the period of suspension of business operations, suspension or revocation of the business license decided by a competent authority.
5. A fine that is twice as much as the fine specified in Clause 1 through 4 of this Article shall be imposed upon the entity that engages in production of industrial alcohol, processing or trading in tobacco raw materials, manufacturing of tobacco products, distribution or wholesaling of alcohol or tobacco products, and commits an administrative violation.
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.
Related articles
Conditions for business in tourist accommodation establishments according to Vietnamese law
Fines for cars traveling in the opposite direction in Vietnam
Procedures to establish a media company in Vietnam
Related questions
According to the Vietnamese legislation, the head office of the Company must not be located in a dormitory or apartment building for living purposes. Rented premises in the form of commercial floors or separate houses with full legal lease contracts can be registered to establish a company.
Facebook users can look up for their tax identification number following these steps:
– Firstly, Access https://www.facebook.com/masothuedotcom/
– Then, Click “send message”
– Lastly, Send your ID number
After all, the system will automatically return the user’s tax identification number information.
Contact LSX
Finally, hope this article is useful for you to answer the question about “Procedures to establish cinematographic company in Vietnam”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
Conclusion: So the above is Procedures to establish cinematographic company in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
