Example of a simple project plan in 2024
|Engagement tasks and deliverables
|Our Client settles the total Vietnam engagement fees with Healy Consultants as outlined in Appendix Three.
|Healy Consultants Compliance Team receives the required corporate and personal due diligence information from our Client. Our Client signs Healy Consultants engagement letter and returns the original and the required due diligence to our Singapore Head Office.
|Our Client confirms by email the planned corporate structure. Healy Consultants’ prepares and sends our Client the Powers of Attorney for our Client’s signature in front of notary public and legalization in Vietnam Embassy in India. The relevant documents are outlined in Appendix Two. Thereafter, our Client couriers the legalized signed documents together with all supporting corporate documents to our Vietnam affiliate office.
|Healy Consultants and our Client apply for visas for three Indian staff to visit Vietnam to conduct research and hire local staff.
|Healy Consultants provides our Client with a Vietnamese nominee shareholder to serve as local partner for the Joint Venture. Healy Consultants then drafts and submits a nominee shareholder agreement to our Client.
|Our Client i) reviews the nominee shareholder agreement ii) notifies Healy Consultants of any modification requests iii) signs the agreement and iv) returns it to Healy Consultants.
|On receipt of the original legalized documents above, Healy Consultants i) translates them into Vietnamese by an official translator ii) prepares the Memorandum and Articles of Association (in Vietnamese) and iii) emails our Client’s shareholder the same for review and approval.
|The Vietnam embassy in India approves the visitor visas for three Indian staff who can visit Vietnam to conduct market research and recruit staff.
|Healy Consultants Incorporation Team submits to the Government a quality complete LLC incorporation application. To speed up government approval;
|Healy Consultants assists our Client with the opening of its corporate capital account, required to transfer funds in and out of Vietnam.
|Our Client starts the hiring process for its local staff, including an in-house accounting team of employees.
|Our Client signs a premises lease agreement.
|Our Client receives approval for the opening of a capital account and is now able to transfer funds for government-approved investment projects.
|Our Client buys back 99% of the initial share capital of the joint venture partner and submits an application to Ministry of Information and Communications to amend the company’s business licenses to have our Client’s name and the increase of share capital to US$50,000 on the license.
|Healy Consultants receives approval for the inclusion of our Client name on the company’s advertising license. Upon amending the business license, our Client is to apply immediately for a Foreign Investment Certificate.
|Healy Consultants applies i) for a seal making license from the HCMC Police Department ii) a tax registration and tax code at the HCMC Taxation office and iii) pays the annual license tax for the company.
|The Vietnam subsidiary of our Client can legally employ its local staff.
|Healy Consultants applies to the Department of Planning and Investment for a Foreign Investment Certificate in advertisement on behalf of our Client.
|Healy Consultants applies for a corporate bank account in Vietnam with the same bank where the capital account has already been opened.
|Healy Consultants receives approval our Client’s website registration.
|Healy Consultants receives approval for the Foreign Investment Certificate .
Healy Consultants obtains approval for the corporate bank account and then assists our Client with activating ibanking facilities.
The Vietnam subsidiary of our Client can invoice its first Vietnamese costumer.
|Healy Consultants assists the Vietnam subsidiary of our Client director with applying for a Vietnamese residency card and work visa, which will be approved within approximately three months after application.
|Healy Consultants receives approval of the tax registration from the Ho Chi Minh City Taxation Department.
|Healy Consultants publishes an incorporation announcement in public newspapers in Vietnam.
|Our Client proceeds to transfer the share capital (US$50,000) no later than 6 months after incorporation of the Vietnam subsidiary of our Client.
|The Vietnam subsidiary of our Client is fully incorporated and Healy Consultants successfully completes the engagement.
|The Vietnam Government approves the Vietnam subsidiary of our Client’s Legal Representative residency card and work visa.