We have a very genuine and authentic idea/plan(s) for starting a MLM business. Mostly it is observed that these types of companies start and wind-up with heavy losses and finally they have to run away with publics money. But in our case this is not the scenario.
We are private limited company based in mumbai and having fanancial related products such as wealth management, fund management, portfolio management, insurance (domestic as well as overseas), loans, demats, tax saving bonds, infrastructure bonds, etc etc..
But the product we want to introduce in this multi-level marketing does not pertain to these financial products. It's a unique product and most attractive to everyone. And therefore we aim for the longest time to sustain in the market, as far as the people doesn't stop us, that would be our limit.
But the apprehension is, we have a product, knowledge, and everything. But we do not know what are the legal documentations required from the governing bodies. Basic documents such as VAT/CST no. are already obtained. But apart from that what other documents are required to start this MLM scheme, also if you can let me know the procedure for the same, it would be really helpful.
Most important is, obtaining of legal documents? Certifications? Permits? Etc. How to?
Please be so kind to give us the valuable response, it will be highly appreciated.
CAclubindia
