Global economic growth has already started its journey of shifting towards developing nations. Being one of the fastest-growing economies in the world, India offers plenty of opportunity to businesses looking to expand their operations in India. For a smooth business setup in India, you may need a physical presence to break into India’s developing business sector. However, only the right kind of presence can make it into the tough business scenario in India.
With a huge market of 1.3 billion people, India is a place of business interest for many across the globe. Registering your business in India as a foreign country and that too in a developing nation like India requires the right professional support. From starting the Liaison Office to branch office and Project office, at VJM GLOBAL you are going to get the right assistance to thrive your business in India.
From export and import of goods to offering professional or consultancy services, setting up a business in India and opening a branch office associated with a foreign company is allowed to perform some of the basic operations in India. But one needs approval from the RBI and proceed through the provisions described under Foreign Exchange Management Act (FEMA), 1999 to start a branch office in India.
The primary objective of a Liaison Office of a company in India is to explore the market and investment climate while taking care of the business in a particular zone. Starting a business in India for foreigners including building of Liaison Offices can involve in-depth research for finding out possible market opportunities, source of supply while offering details regarding the parent company to the Indian authority and customer base.
Starting a project office registration in India is the most ideal way for businesses to have a strong presence in India only for a limited time. For project office setup in India along the lines of a project office, the foreign company needs approval from the Reserve Bank of India and register themselves under RoC. Team VJM Global can help set up a Project Office in India for Foreign Companies. After completion of certain formalities under the Companies Act, 2013 you can consider setting up the project office in India.
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Automotive & Transportation
Retail & Wholesale
Insurance
Insurance
Hospitality
Manufacturing
Law
Healthcare
Banking & Finance
And more…
India
United States
United Kingdom
South Africa
Switzerland
Nigeria
Germany
Italy
Germany
Italy
Algeria
UAE
Japan
China
Argentina
Ukraine
Singapore
Malaysia
France
Ethiopia
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According to a recent report from the World Bank, the ease of doing business in India has improved quite a lot after a series of reforms. Things are much more comfortable for companies to pay taxes, get construction permits, and proceed with cross border transactions. As per the “Doing Business 2019” report, India features in the list of top 10 most improved economies. From automotive, infrastructure, chemical to pharmaceuticals, textiles and others with a population of 1.36 billion India can offer the most prominent market to perform business proceedings for foreign entities.
Foreign entities looking to set up Liaison Office or Branch Office in India need to apply through Form FNC along with the required documents to the General Manager of Foreign Exchange Department under the Central Office Cell of RBI. However, the application should be processed via an Authorised Dealer Bank.
A foreign company willing to set up a LO in India should have reported a net worth of minimum USD 100,000 or its equivalent as per their latest Audited Balance Sheet. In the case of the Liaison Office, the value should be a minimum of USD 50,000 or equivalent.
The answer is no! If a Liaison Office or a Branch Office needs to have more than one account, they need to get permission from the Reserve Bank of India through its AD Category I bank while maintaining the reason clearly.
While Liaison Offices can’t acquire property, Branch Offices and Project Offices can have a property for their own use. They can proceed with incidental or permitted activities but can’t offer rent or lease on their property.
A Liaison Office does not ensure or assure any income in India since they don’t have the permission to conduct commercial/ industrial or trading activity directly or indirectly. Hence, a company that only has a Liaison Office is not subjected to taxation in India.
Yes, Liaison Offices can upgrade as a Branch Office, all they need to do is re-designate the account as a Branch Office account.
If a foreign company establishes a direct business connection with the Liaison Office, then it can trigger permanent establishment status in India.
Yes, an AD bank can offer approval for the transfer of assets.
No, an Indian subsidiary company abroad can’t open a BO in India within the automatic route.
No, AD banks don’t need the UIN form RBI. They have the authority to offer UIN form for Project Office.
Transfer pricing is all about determining the nature, treatment and taxability of intra-group transactions across several geographies. The transaction is put to test by the determination of arm’s length price of the transaction as per the prescribed transfer pricing methodologies.
If you are looking for a trustworthy partner or a reliable FEMA advisor, we will be the right fit for you. We keep a world-class pool of professional FEMA consultants to provide you with a complete solution, covering almost all areas of FEMA, bookkeeping and accounting tasks, GST returns etc.
We are the market leaders to deliver a higher-quality accounting and reporting solution to our clients more quickly and efficiently in an environment of technological change, digital demonstration, could computing, online bookkeeping and GST filing, and increased regulatory changes and scrutinizes.
Client is the key driver of our service offerings. Our approach to service offerings is based on a client centric and customized approach. Our specialized teams are a mix of technical and industry experience in order to serve clientele for their specific needs.
We always endeavour for a quick turnaround time to serve our clientele. We are supported by an experienced and client focussed support teams to offer timely services to our clientele. In case of any business exigencies and time sensitive service requirements, you can always count on us.
We have built high performing teams supported by strong work ethic. Our team is a mix of experts, professionals and support staff from technical and varied academic, cultural, social and ethnic backgrounds. We believe that this diversification plays a vital role in motivating the team into High Performing Teams.
We believe that open communication is the core principle in order to demonstrate trust, build long lasting and valuable relationships with clientele. We are committed to ensuring transparency in communication, service offerings and delivery.
Our service offerings are driven by quality and reviews at every level. We strive to provide a qualitative and value-added delivery to our clientele. At all times, we endeavour to provide exceptional client service by meeting client expectations and driving client satisfaction.
The Indian government is making all efforts to ensure that all foreign income and assets of the residents are disclosed in the Income Tax return
With expanded globalization, online cross-border transactions are not limited to business entities only. Rather, an end consumer is also obtaining products and services from a
In the era of electronic Commerce or Quick Commerce, the role of Payment Aggregators and payment gateways is significant. These entities take care of funds
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We serve on FDI advisory, cross-border accounting, International tax planning and Management consulting needs of our overseas clients all over the world.
Corporate Office: 601, 6th Floor, GMIT Park, Sector 142, Noida Exp Way, Noida – 201305
Registered Office: 44, Backary Portion, 2nd Floor, Regal Building, New Delhi 110001
Landline: 0120-4415477-78
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+91 9891576441, 9213397070, 9911887030
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V J M & Associates LLP
V J M GLOBAL