The practice of buying and selling vouchers for the purpose of marketing other people’s goods has gained prominence in the business world. It offers entrepreneurs an innovative way to tap into new markets and create revenue streams. However, with innovation comes regulation, and businesses must navigate the complexities of compliance. In this discussion, we will explore whether this practice is classified as a regulated industry or business trade, shedding light on the implications for those who engage in this dynamic business model.
Question:
Dear Business Registration Department of the trading and business transaction voucher activities, Is it necessary to register the profession and meet the business requirements when trading vouchers used for selling the goods of others? If so, where should I apply for permission?
Answer:
– According to Article 1 of the Enterprise Law 2020, the rights of enterprises are as follows: “Freedom to conduct sectors and occupations not prohibited by law.”
– According to Clause 8, Article 7 of Decree 01/2021/ND-CP dated 04/01/2021 of the Government on enterprise registration, it is regulated as follows: “State management of conditional investment business sectors and conditional market access sectors for foreign investors, and inspection of business compliance with conditions by specialized agencies according to the regulations of specialized legislation.”
– The list of conditional investment business sectors and occupations is regulated in Appendix IV, the List of conditional investment business sectors and occupations issued together with the Investment Law No. 61/2020/QH14 dated 17/06/2020 by the National Assembly.
– Enterprises may refer to the industry and occupation code provided in the Decision No. 27/2018/QD-TTg dated 6/7/2018 by the Prime Minister on the Vietnamese Economic Industry System. Article 56 of Decree 01/2021/ND-CP dated 04/01/2021 of the Government on enterprise registration prescribes the documents, procedures, and sequence for changing industries and occupations.
– Enterprises selling goods or providing services with accompanying purchase vouchers or service usage vouchers for customers to enjoy certain benefits should contact the specialized management agency for detailed guidance. The enterprise should study and implement according to the regulations.
Conclusion
In conclusion, the practice of buying and selling vouchers for promoting other people’s goods presents exciting opportunities in the business landscape. Understanding whether this practice falls under regulated industry or business trade is crucial for entrepreneurs and businesses aiming to venture into this arena. By adhering to relevant regulations and industry standards, businesses can confidently participate in this innovative approach to marketing and contribute to the ever-evolving world of commerce.
HMLF is always available to offer assistance in understanding the procedures with authorities.
Harley Miller Law Firm “HMLF”
Head office: 14th floor, HM Town building, 412 Nguyen Thi Minh Khai, Ward 05, District 3, Ho Chi Minh City.
Phone number: +84 937215585
Website: hmlf.vn Email: miller@hmlf.vn
