Conditions for registration of multi-level marketing activities in VietNam
1. Conditions for registration of multi-level marketing activities
- It is an enterprise established in Vietnam in accordance with law which has registered the retail business by the mode of multi-level marketing.
- Its legal capital.
- Goods traded by the mode of multi-level marketing conform with the enterprise registration certificate or the investment certificate.
- It satisfies the business conditions or has obtained a certificate of eligibility for business as prescribed by law in case it trades in goods subject to conditional business.
- It opens an escrow account at a commercial bank operating in Vietnam.
- It has rules of operation, bonus payment program and basic training program in accordance with law.
- Partnership members, for partnerships; private enterprise owners; members, for limited liability companies; founding shareholders, for joint stock companies; and at-law representatives, for limited liability and joint stock companies, must be those who have not held one of the above positions at a multi-level marketing business which has its multi-level marketing registration certificate.
2. Objects of multi-level marketing
Goods traded by the mode of multi-level marketing must comply with provisions of relevant laws.
The following goods must not be traded by the mode of multi-level marketing:
a/ Goods on the list of goods banned from trading and the list of goods restricted from trading, goods currently subject to urgent measures of forcible recall, circulation ban or suspension as prescribed by law;
b/ Medicines; medical equipment; veterinary drugs (including aquatic veterinary drugs), plant protection drugs; chemicals, insecticidal and germicidal preparations for domestic and medical use; dangerous chemicals and products containing dangerous chemicals as prescribed by law.
All types of service or forms of business other than goods trading must not be traded by the mode of multi-level marketing, unless permitted by law.
Follow provisions at Decree No. 42/2014/ND-CP on management of multi-level marketing activities
Source: http://phapluatkhoinghiep.com
- It is an enterprise established in Vietnam in accordance with law which has registered the retail business by the mode of multi-level marketing.
- Its legal capital.
- Goods traded by the mode of multi-level marketing conform with the enterprise registration certificate or the investment certificate.
- It satisfies the business conditions or has obtained a certificate of eligibility for business as prescribed by law in case it trades in goods subject to conditional business.
- It opens an escrow account at a commercial bank operating in Vietnam.
- It has rules of operation, bonus payment program and basic training program in accordance with law.
- Partnership members, for partnerships; private enterprise owners; members, for limited liability companies; founding shareholders, for joint stock companies; and at-law representatives, for limited liability and joint stock companies, must be those who have not held one of the above positions at a multi-level marketing business which has its multi-level marketing registration certificate.
2. Objects of multi-level marketing
Goods traded by the mode of multi-level marketing must comply with provisions of relevant laws.
The following goods must not be traded by the mode of multi-level marketing:
a/ Goods on the list of goods banned from trading and the list of goods restricted from trading, goods currently subject to urgent measures of forcible recall, circulation ban or suspension as prescribed by law;
b/ Medicines; medical equipment; veterinary drugs (including aquatic veterinary drugs), plant protection drugs; chemicals, insecticidal and germicidal preparations for domestic and medical use; dangerous chemicals and products containing dangerous chemicals as prescribed by law.
All types of service or forms of business other than goods trading must not be traded by the mode of multi-level marketing, unless permitted by law.
Follow provisions at Decree No. 42/2014/ND-CP on management of multi-level marketing activities
Source: http://phapluatkhoinghiep.com
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