SBLAW would like to provide some legal regulation relating to Multi-Level Marketing registration certificate in Vietnam
- 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 complies with Article 8 of this Decree.
- 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 under Article 29 of this Decree.
- 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 under Points b and c, Clause 1, Article 14 of this Decree.
- An application for a multi-level marketing registration certificate
- A certified copy of the enterprise registration certificate or a certified copy of the investment certificate
- A document proving the legal charter, which may be any of the following documents: a credit institution’s written certification of the business’s account balance; an independent auditor’s report on the business’s current asset status; a deed of valuation granted by a valuation institution operating lawfully in Vietnam for assets of the business; the business’s financial statement up to the time of submission of the dossier or other equivalent documents.
- A list of valid personal identity papers (people’s identity cards or passports, for Vietnamese nationals; passports and temporary residence registration certificates granted by competent Vietnamese agencies, for foreigners temporarily residing in Vietnam; or passports, for foreigners not residing in Vietnam) of 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
- Two sets of the dossier of the business’s multi-level marketing activities, each comprising
- The model contract for participation in multi-level marketing activities
- The bonus payment program clearly stating conditions for and methods of payment of commissions, bonuses and other economic benefits to multi-level marketing participants
- Basic training program
- Rules of operation
- Documents related to goods to be traded by the mode of multi-level marketing, including
- Two copies of the list of goods indicating information on categories, origin, packaging specifications, sale prices (applicable to multi-level marketing participants and customers) and bonus points converted from goods traded by the mode of multi-level marketing
- Valid documents guaranteeing the circulation of goods as prescribed by relevant laws
- Documents related to uses, use methods and policies on warranty, return and re-purchase of goods
- A certified copy of the business eligibility certificate or business license or practice certificate as prescribed by law, in case of trading in goods subject to conditional business
- The original written certificate of payment of escrow money