Doing business in India offers enormous opportunities for many companies. India is a large and complex market. It should not be seen as one unified market, but rather a series of connected regional markets where the legislative and investment climate may change from one Indian state to another. With over 1.3 billion people, India is the most populous democracy in the world. It is a federal constitutional republic governed under a parliamentary system consisting of 29 states and 7 union territories. The World Bank’s Doing Business Report 2018 ranked India 100th out of the 190 countries surveyed. That is a 30 place jump over the 2017 ranking of 130th place. India’s Prime Minister has a goal of India being in the top 50 ranking by 2022, so expect the government to introduce big ticket reforms to land ownership, labor law, and the judicial process in the coming years.
India has already made several steps in the right direction. With e-governance, a single window concept can be introduced where companies can file their application online for permission to acquire land, register property or get a construction clearance. This will go a long way toward eliminating bureaucratic hurdles. Another major step taken by the government was the introduction of the Bankruptcy and Insolvency Act of 2017. Once implemented, the act will make it easier to exit or attempt a revival of a business. This will make it easier for firms by making the revival process and/or liquidation easier. We are excited to see what the future holds for Indian entities as they continue making progress.
IBCF Services inIndia
- Entity Formations and Foreign Registrations
If you are registering a new business in India, there are some official procedures a company has to follow in order to register properly. The MCA (Ministry of Corporate Affairs) has made the registration process easier over the last few years, but there are still unique formalities involved. There are four major steps involved with the registration process.
- Acquiring Digital Signature Certificate (DSC)
- Acquiring Director Identification Number (DIN)
- Filing an eForm or New user registration
- Incorporating the company
There are a few options available in India as far as type of entity. The Limited company, LLP and Private limited company are most common. Our experienced corporate specialists are ready to help you with every step of getting formally registered to operate in India.
- Registered Agent/Registered Office
In India the registered office of a Company or LLP is the principle place of business for a private / public limited company and all official correspondence from the Ministry of Corporate Affairs is sent to this location. The company secretary in India is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented. Despite the name, the role is not clerical or secretarial.
- Document Retrievals (i.e Good Standing, Certified Copy)
Document retrievals in India are generally not too difficult to process. One unique aspect of the available documents is that the standard “Good Standing Certificate,” available from most Common Law counties, is not available in India. The equivalent is a current-dated, certified, true copy of the Certificate of Incorporation. Certified copies of corporate documents are readily available and communicating with the registry has never been as easy as it is today.
- Apostilles/Legalizations
For additional information about this service, speak with a corporate specialist directly at +1 845 398 0900 or complete the contact form and a corporate specialist will contact you shortly.
- Due Diligence Searches (i.e Lien, Judgment, Bankruptcy)
For additional information about this service, speak with a corporate specialist directly at +1 845 398 0900 or complete the contact form and a corporate specialist will contact you shortly.
- Compliance
Doing business in a foreign jurisdiction is time consuming enough, let alone the corporate governance and reporting that goes with it.
Partnering with IBCF as your single point of contact can assure you that your critical corporate compliance requirements are handled in a timely, expeditious and cost conscious manner.
An overview of our corporate compliance offerings include:
• Manage yearly jurisdictional compliance requirements and information
• Preparation and filing of statutory filings with corporate registry
• Maintenance of corporate information on compliance specific platform
• Due date tracking capabilities
• Maintain company shareholders and minutes
• Prepare board and/or shareholder resolutions
• Prepare and file audit documents related to corporate changes
• Prepare and file director, officer and shareholder changes
• Prepare meeting documents
• Registered Agent/Registered Office
*Availability of Services are subject to changeFor additional information and pricing about our corporate compliance offerings, please contact us and a compliance specialist will contact you shortly.