Pursuant to Law on Investment 2014, the Law on enterprises 2014, the Law on advertising 2012, and Vietnam’s WTO Commitments,the regulation of foreign investors engage in business advertising services in Vietnam shall comply with the following:
- Vietnam has not undertaken to permit the establishment of 100% foreign-owned advertising companies yet. Therefore, foreign investor want to engage in advertising services in Vietnam must enter into joint ventures with Vietnamese partners. Therein, foreign investors contribute capital to joint ventures at any rate but must be less than 100%; or cooperation under business cooperation contract.
- Vietnamese partners in joint ventures must be registered companies for advertising services;
- Joint venture company between foreign investors and Vietnamese companies are provided with advertising services for all of products, except for the cigarettes. The alcohol advertising is permitted but must comply with Vietnamese law.
- Forms of investment: Establishment of Vietnamese companies dealing in advertising services. Then Foreign investors purchase shares or capital contributions of Vietnamese companies which have registered advertising business activities.
Step 1: Establishment of Vietnamese companies which have registered advertising business activities.
A dossier for establishment of company includes:
- Written request for enterprise registration;
- Charter of the company;
- List of members for a limited liability company, List of founding shareholders for a shareholding company;
- Lawful copies of the following documents:
- People’s identity card, passport still validated of members being individuals;
- Enterprise registration certificate of an organization and personal identification ,power of attorney of the authorized representative of the member being an organization
- Contribution capital decision of the member being an organization
- Power of attorney to establishment of company for Viet An Lawfirm.
Receiving agency: The Business Registration Office of the Department of Planning and Investment where the head office of the company is located.
Processing time: 03-05 working days.
Step 2: Foreign investors purchase shares or capital contributions of Vietnamese companies which have registered advertising business activities.
The file for registration of capital contribution or purchase of shares or portion of capital contribution shall comprise:
- Written request for registration of capital contribution or shares purchase or portion of capital contribution (Standard form I-6 of Document No 4326/BKHĐT-ĐTNN)
- Copy of the people’s identity card, ID card or passport in the case of investors being an individual; copy of the incorporation certificate or other equivalent documents certifying the legal status in the case of investors being an organization;
Viet An Lawfirm Services establishment of a foreign invested advertising company
- Legal advisory, drafting establishment of an advertising company;
- Legal advisory the procedures after the establishment of the company;
- Legal advisory conditions of business advertising activities;
- Legal advisory conditions for foreign investors purchase shares or capital contributions of Vietnamese companies;
- Legal advisory, drafting the file for registration of capital contribution or purchase of shares or portion of capital contribution;
- Comprehensive legal advisory matters in the course of business operations.