What are the eligibility requirements for multi-level marketing (MLM) registration in Vietnam? What is the validity of MLM registration certificate in Vietnam? – Hoai Nam (Binh Phuoc)
Eligibility requirements for multi-level marketing registration in Vietnam are specified in Decree 40/2018/NĐ-CP on multi-level marketing management and amended in Decree 18/2023/NĐ-CP.
From October 15, 2020, Decree 98/2020/ND-CP prescribing penalties for administrative violations against regulations on commerce, production and trade in counterfeit and prohibited goods, and protection of consumer rights in Vietnam. Below is a summary of penalties for violation against regulation on multi-level marketing in Vietnam.
The form of multi-level marketing always creates many problems and potential risks that are dangerous to society. Therefore, the law of Vietnam has been perfecting regulations to guide this activity in the right direction. In particular, sanctions are set out to strictly handle violators, including multi-level marketing enterprises.
Multi-level marketing (MLM) means a business model that utilizes the network of participants at different levels wherein commissions, bonuses and other economic benefits are or may be paid to participants based on their personal sales and the sales made by other distributors below the participants, also known as downline distributors. So, what are eligibility requirements for MLM registration in Vietnam?
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