Establishing a media company with foreign capital in Vietnam has become more attractive than ever, especially amid globalization and the rising demand for content consumption. To ensure legal and efficient operations, foreign investors must thoroughly understand the necessary conditions and procedures. This article provides an overview of the latest legal regulations, the process for obtaining licenses, and key considerations when investing in the media sector in Vietnam.

The media sector encompasses a broad range of activities. A media company conducts business related to information and communication. It aggregates, organizes, and distributes content services to users. This includes providing video, graphics, and other advertising campaign services to clients who lack an in-house marketing department, as well as developing various business plans for clients.
Pursuant to Vietnam’s Specific Commitments on Services in the Report of the Working Party on the Accession of Vietnam to the WTO (WT/ACC/VNM/48), for film production, distribution, and screening services, all films must undergo content censorship by competent Vietnamese authorities. In addition, certain media sub-sectors have specific restrictions on commercial presence forms in Vietnam, for example:
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To establish an enterprise in Vietnam, foreign investors must have an investment project and follow the procedure for issuance of an Investment Registration Certificate as prescribed by law.
In addition, foreign investors are entitled to the same treatment as domestic investors when operating in the information and communications sector in Vietnam. However, investors must satisfy additional conditions if engaging in certain business lines listed in Section B of Appendix I to Decree 31/2021/ND-CP, including:
The conditions applicable to investors operating in the above sectors are prescribed in the following forms:
– Ratio of charter capital ownership by foreign investors in the economic organization.
– Form of investment.
– Scope of investment activities.
– Capacity of the investor and partners participating in the investment activity.
– Other conditions issued by competent authorities.
Detailed regulations on restricted market access conditions can be found in Vietnam’s international trade commitments or specialized laws. For example, for printing services and publication distribution services, pursuant to Vietnam’s commitments under AFAS, the foreign investor’s ownership ratio in the joint venture shall not exceed 70% of the legal capital. In addition, for certain sectors affecting national security and social order, foreign investors may be subject to certain national treatment restrictions.
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**Step 1:** Prepare the dossier for issuance of Investment Registration Certificate.
The dossier includes:
**Step 2:** Submit the dossier for issuance of Investment Registration Certificate.
**Step 3:** Issuance of Investment Registration Certificate.
**Step 4:** Public disclosure on the National Enterprise Registration Portal
After obtaining the Investment Registration Certificate, the investor submits one set of dossier for enterprise establishment in the media sector to the Department of Planning and Investment where the enterprise has its principal office. The dossier includes:
(1) Application for enterprise registration;
(2) Company charter;
(3) List of members for a limited liability company with two or more members/partnership; list of founding shareholders and list of foreign investor shareholders for a joint-stock company;
(4) Certified copies of the following documents:
+ Lawful personal identification documents of the legal representative of the enterprise;
+ For one-member limited liability companies: lawful personal identification documents of the individual owner if the owner is an individual; lawful organizational identification documents if the owner is an organization; lawful personal identification documents of the authorized representative and document appointing the authorized representative.
+ For limited liability companies with two or more members, partnerships, and joint-stock companies: lawful personal identification documents of individual members, founding shareholders, and foreign investor shareholders; lawful organizational identification documents of organizational members, founding shareholders, and foreign investor shareholders; lawful personal identification documents of the authorized representative of organizational members, founding shareholders, and foreign investor shareholders and document appointing the authorized representative.
(5) Investment Registration Certificate issued to foreign investors.
Within 3 working days from receipt of a valid dossier, the Business Registration Office – Department of Planning and Investment of the province/city shall issue the Enterprise Registration Certificate to the investor.
If the enterprise registers conditional business lines requiring a business license, after obtaining the enterprise registration certificate, the enterprise must apply for a license for sufficient conditions to operate before commencing activities.
– Members and shareholders may contribute capital in the committed assets. Capital contribution must be made in full and in the correct type of asset as committed upon enterprise registration within 90 days from the date of issuance of the Enterprise Registration Certificate.
– During this period, members have rights and obligations corresponding to the committed capital contribution ratio. Assets contributed in non-Vietnamese dong, freely convertible foreign currency, or gold must be valued by the members, founding shareholders, or a professional valuation organization and expressed in Vietnamese dong.
– Pursuant to Article 33 of the Enterprise Law on public disclosure of enterprise registration information, after being issued the Enterprise Registration Certificate, the enterprise must publicly disclose the enterprise registration contents on the National Enterprise Registration Portal in accordance with the prescribed sequence, procedures, and pay the required fee.
– The disclosure includes the contents of the Enterprise Registration Certificate and the following information: business lines; list of founding shareholders and foreign investor shareholders for joint-stock companies. The time limit for public disclosure of enterprise information is 30 days from the date of disclosure.
– In cases where the enterprise fails to publicly disclose enterprise registration information after establishment of the media company, depending on the severity of the violation, the enterprise may be administratively sanctioned from VND 1 million to VND 2 million.
BKC Law provides consultation services for procedures to establish foreign-invested media companies, helping foreign enterprises fully understand the legal process in Vietnam. We guide clients from dossier preparation, investment license application, to related procedures such as business registration and operating licenses in the media sector. Our experienced team of experts is committed to dedicated support and consultation, ensuring your enterprise operates efficiently and in full compliance with legal regulations.
To receive free legal consultation at BKC Law, please contact our lawyers using the following information:
Telephone: 0901 3333 41
Email: info@bkclaw.vn
Branch in District 1: 9th Floor, Diamond Plaza Building, 34 Le Duan Street, District 1, Ho Chi Minh City
Branch in Binh Tan: 41 Ten Lua Street, Binh Tan District, Ho Chi Minh City
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41 Rockets, Binh Tri Dong B, Binh Tan District, Ho Chi Minh City.
info@bkclaw.vn
0901 3333 41
9th Floor, Diamond Plaza Building, 34 Le Duan, Ben Nghe Street, District 1, Ho Chi Minh City.
info@bkclaw.vn
0901 3333 41