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 o...