The number of people who have joined MLMs in India has grown significantly over the past few years.
The total number of active MLMs has grown by almost 25% from the year 2015 to 2017.
With the growth of the MLM market, there has also been a surge in the number of MLMs registered in India.
With MLM companies growing in popularity, it has come as a shock to many that India has no MLM registration law in place.
However, there are several steps you can take to start your MLM company in India if you want to make it work in India and become an active business in India for at least two years.
These steps include:1.
Registering your MLMs with the local authorities2.
Taking an online course3.
Completing a formal business registration and financial disclosure form4.
Keeping the MLMs operational in a business and income tax return5.
Being approved for tax relief6.
Making an investment in your business7.
Starting your ML, if you have one8.
Keeping your business up and running9.
Getting your MLAs certified10.
Being registered as a limited company11.
Being licensed in the country.
Here are the steps you need to take if you wish to register your MLP with the government:1) Registering a business with the Indian government2) Completing an online business registration form3) Completion of a formal financial disclosure and business registration4) Keeping your MLPs operational in the business and tax return.5) Taking an investment into your business6) Making an online investment in a company7) Getting your company registered as an LLC8.
Making your business available for trading in the stock market9.
Being accredited as a Limited Company10.
Getting the business registered as the Business Development Corporation11.
Getting an insurance license12.
Getting a business licence13.
Making a business sale to a company14.
Getting it listed in the Stock Exchange15.
Being certified as an accredited business in the State16.
Getting permission from the state to sell your stock17.
Getting approval for stock trading18.
Making money from your ML18.
Getting insurance insurance18.
Completion and tax returns from your business19.
Keeping a stock certificate20.
Getting licensed in India21.
Getting tax relief21.
Making profits from your stock22.
Being licenced in the India23.
Being able to register a business24.
Being allowed to trade in the Indian Stock Market25.
Being granted permission to sell a stock26.
Being a Limited Companies27.
Getting licence in the Government28.
Getting certificate from the State29.
Getting stock certificates30.
Getting LICRE from the Government31.
Making insurance certificates32.
Getting license from the Ministry of Finance33.
Being in the process of registering your business34.
Getting legal tender certificate from a Government department35.
Getting official documents36.
Getting documents from the Minister of State for Finance37.
Getting licences from the Finance Department38.
Being authorised to make a stock sale39.
Making the stock exchange transactions and exchanging the stock to the stock of a company40.
Getting permits to open and close a stock exchange41.
Making cash out of your business42.
Complying with tax laws43.
Getting registered in the tax department44.
Being required to register in the insurance department45.
Being issued an Indian passport46.
Being given permission to use Indian currency for transactions in India47.
Being permitted to take out funds from your account in foreign currency48.
Having your accounts registered in a bank49.
Having an Indian bank account50.
Having a bank account in another country51.
Having account at a foreign bank52.
Having funds deposited in a foreign currency53.
Being recognised as a member of the Indian banking community54.
Being accepted into a non-profit organisation55.
Being invited to be a member55 of the IITs’ India Business Council56.
Having been accepted to join a non profit organisation56 of the International Business Council57.
Having received a certificate from another organisation58.
Being eligible for a visa58 of the government59.
Being recognized as a Member of the Government60.
Being admitted to the IFS61.
Being considered a citizen of India61 of the State Electricity Regulatory Authority62.
Being treated as a resident of the country63.
Being included in the GST-I scheme64.
Being covered under the Tax Commission’s online tax return65.
Having filed the tax return for the year covered under tax law66.
Having paid all taxes under the tax law67.
Having deducted the tax from your income.68.
Paying taxes for the preceding year69.
Payting taxes for any subsequent year70.
Payning tax for any tax year70 of a foreign parent parent70 of an Indian parent71.
Being subject to an order issued by a court or tribunal72.
Being liable to pay any tax penalty73.
Being deemed an employee of the company74.