WHAT HAPPENED
Vietnam has closed the era of nameless online trading. On June 30, 2026, Decree No. 248/2026/ND-CP was signed — a sub-law act implementing the E-Commerce Law No. 122/2025/QH15, adopted by the National Assembly on December 10, 2025. The decree took effect on July 1, 2026, and the key requirement — electronic identification (e-KYC) of sellers and livestreamers on platforms — begins on January 1, 2027. The texts and explanations are published on LuatVietnam.
The essence of the changes is in three points. First: a seller, streamer, or store owner on a marketplace must verify their identity through the national electronic identification system VNeID — the account is linked to a specific person, not to a nickname or phone number. Second: platforms are moving from the notice-and-take-down principle to the notice-and-stay-down principle — meaning they must not only remove an infringing listing but also prevent its return under a different name. This mechanism is detailed in the legal review by Duong Tran Law. Third: foreign platforms with Vietnamese language or .vn domain and turnover of 100,000 transactions with buyers from Vietnam per year must register with the Ministry of Industry and Trade (MoIT) — registration is given 60 days from reaching the threshold.
On September 10, 2026, the Ministry of Industry and Trade held an explanatory webinar "The 2025 E-Commerce Law and Decree No. 248: Compliance guidance for businesses," where it confirmed: electronic identification of sellers and streamers plus increased platform liability are the two pillars of the new model. The materials are published on the official MoIT website. At the same time, the decree contains transitional provisions: platforms that received notifications earlier operate under previous procedures until June 30, 2027 — this window is the time for preparation.
WHAT THIS MEANS
Vietnam is not an abstract example. According to Vietnam News, the country's e-commerce market was about US$40 billion in 2025, of which approximately US$12 billion came from Ho Chi Minh City (Vietnam News). It is one of the fastest-growing markets in Southeast Asia, and Russian entrepreneurs actively use it in two ways: as a sourcing platform and as a sales channel through local marketplaces and social commerce. Both scenarios now hinge on identification.
What changes for a Russian seller on marketplaces. Previously, one could open a store on Shopee, Lazada, or TikTok Shop through an intermediary, operate under a "gray" legal entity, and not reveal the real owner. From January 1, 2027, such a scheme breaks down: the platform must match account data with a verified identity through VNeID. If the account is registered to a nominee and the real beneficiary is a Russian citizen, the store will be blocked upon the first check, and funds on the balance will be frozen until clarification. The stay-down principle means that recreating an account under a new name will not work — the platform will track recidivism.
The second effect is the rising cost of entry. Legal verification requires either one's own Vietnamese legal entity or an official partnership with a local distributor who will act as a resident seller. This is not a one-time fee but ongoing expenses: accounting, tax reporting, compliance. Small sellers who entered the country "on a trial basis" with a single batch of goods fall out of this model — it is easier for them to move to other markets or work through an aggregator.
The third effect is that data transparency becomes a competitive advantage. Platforms are already updating identification, data storage, and complaint handling systems — as reported by Wincolaw and Tilleke & Gibbins. A seller with clean documentation gets priority in search results and fewer blocking risks than one who hides. This is a case where compliance directly converts into turnover.
The global context is also important. Vietnam is not reinventing the wheel — it is catching up with the global KYC/KYB practice already applied by TikTok Shop and other major platforms: identity verification, bank account confirmation, data matching to the account owner. Industry guides and seller communities record a typical problem — "verification loops," when a seller cannot pass verification for weeks due to a discrepancy in a single letter of an address. In Vietnam, this problem will become widespread from January 1, 2027.
VIETSMART EXPERT COMMENTARY
I see this situation in operations every week. Our partners in Ho Chi Minh City are mainly Russian brands entering Vietnam through local marketplaces. And the most common mistake they make right now: delaying legalization, hoping that the "transition period until June 30, 2027" will somehow cover them. It will not. The transitional provisions apply to platforms, not sellers. A platform may operate under old procedures, but it will start requiring verification from new sellers earlier — because it needs to build a base of verified accounts before the deadline. In practice, this means: applications for store registration are already taking longer, and some new accounts go into manual review.
What I would do as a Russian entrepreneur — not wait for January 2027. I would start with an audit of current accounts: to whom they are registered, what documents are linked, whether there are discrepancies between the data of the Vietnamese legal entity and the payment account data. Then — either open one's own Vietnamese legal entity with a real resident director, or find a local distributor partner with a clean history. And be sure to fix in the contract who is responsible for verification and what happens to inventory in case of account blocking. This is not a legal formality but protection of working capital.
CONCLUSIONS AND WHAT TO DO
Vietnam's Decree 248/2026 is not an isolated case but part of a global trend toward de-anonymization of online trade. Russian entrepreneurs working with the Vietnamese market or planning to enter should perceive it as a warning: the same vector will come to other platforms. Here are concrete steps that can be taken right now.
- Conduct an audit of accounts on all Vietnamese platforms. List to whom each store is registered, what documents are linked, whether the data of the legal entity, bank account, and contact person match. Any discrepancy is a potential cause of blocking during VNeID verification.
- Decide on the presence model by the end of 2026. Either your own Vietnamese legal entity with a resident director, or an official contract with a local distributor acting as a resident seller. The "through an acquaintance" scheme stops working.
- Request the platform's written verification regulations. By January 1, 2027, major platforms must publish KYC procedures: what documents, what timelines, what to do in case of refusal. If there are no regulations, this is a risk that must be factored into planning.
- Include a blocking scenario in contracts with partners. Who is responsible for verification, what happens to inventory and funds on the balance when an account is suspended, within what timeframe the partner must provide documents upon platform request.
- Factor in rising costs in unit economics. Legal presence means accounting, tax payments, compliance support. Recalculate product margins before signing supply contracts, not after.
Source: Vietnam.vn dated September 12, 2026