Business Incorporation
Welcome to WBN consulting India, where we specialize in tailor-made solutions for your business incorporation needs. Our approach involves understanding your business expectations, service area, size, and presence to provide you with the best possible incorporation process. We ensure that your business becomes a legal entity and obtains the necessary licenses based on your specific activities.
Set Up a Company in India
India awaits your entrepreneurial dreams, and we’re thrilled to welcome you to the thriving business landscape here. As the 6th largest economy and home to a unique consumer base, India offers unparalleled opportunities. At WBN consulting India, we appreciate your confidence in investing in our country, and we assure you that India will not disappoint.
If you’re considering setting up your venture in India, we understand that you might have questions and concerns about doing business here. Fear not, for WBN consulting India is here to assist you every step of the way.
In the following sections, we will cover essential topics to help you understand why India, particularly Bangalore, is an ideal destination for your business, the process of starting a Private Limited Company, setting up a subsidiary, and what to do once it’s established.
How can WBN help you with Accounting & Bookkeeping Services?
Advantage Bangalore!
As the most dynamic city in the world, Bangalore surpasses renowned business hubs like Silicon Valley, Shanghai, and Dubai. Famous for its technology talent and startup culture, Bangalore has become the No. 2 hub for business innovation in the Asia-Pacific region. With world-class facilities and a cosmopolitan atmosphere, Bangalore is the perfect place to start your Indian venture.
The Best Business Structure
In India, two popular business structures are Private Limited Companies (PLCs) and Limited Liability Partnerships (LLPs). PLCs are regulated by the Companies Act 2013 and are commonly chosen for setting up Indian subsidiaries. On the other hand, LLPs also offer limited liability benefits and might provide better tax advantages.
Understanding Taxation
Before making any investment decisions, it’s crucial to comprehend the tax regime of the host country. India has been working towards minimizing tax rates to enhance business competitiveness. PLCs recently saw a reduction in income tax rates to 25%, while LLPs continue to be taxed at 30%. Additionally, businesses engaged in Research & Development can enjoy income tax incentives, and those set up in Special Economic Zones (SEZs) benefit from a 15-year tax holiday.
Our Services
At WBN consulting India, we offer a range of services to make your incorporation process seamless. We assist with legal entity registrations, including Private Limited Companies (LTD), Limited Liability Partnerships (LLP), Liaison Offices (LO), Public Limited Companies (PLC), and Branch Offices (BO). We handle the necessary licensing and associated processes to ensure full compliance with Indian regulations.
LTD – Private Limited Company
● Income Taxed at 25%
● Dividend subject to 20% withholding tax subject to a tax treaty.
LLP - Limited Liability Partnership
● Considered as body corporate
● Income taxed at 30% slab
● Post-tax profits freely repatriable
LO – Liaison Office
● Can act as a channel of communication
● No commercial activity; tax-exempt but must file tax return with disclosures.
PLC – Public Limited Company
● Higher compliance
● Same tax structure as LTD
BO – Branch Office
● Not considered as a separate entity
● Income taxed at 40%
● No tax on repatriation
Name
In India, it is mandatory for every entity to possess a distinct name. In cases where an Indian unit is a subsidiary of a foreign company, the name of the parent company must be adopted as the name of the Indian company. However, the Registrar of Companies has the authority to reject a proposed name if it closely resembles that of another company, resulting in additional expenses and delays. Our assistance ensures that you select a unique name, thereby avoiding unnecessary costs and saving valuable time.
MoA and AoA
We assist in establishing an appropriate operational structure for your business by preparing and filing the Memorandum of Association (MoA) and Articles of Association (AoA), which are the formal documents provided by stakeholders during the company’s incorporation. Our services include the submission of electronic versions of the MoA and AoA, ensuring a streamlined process for your business establishment.
PAN & TAN
We offer comprehensive services for obtaining both the Permanent Account Number (PAN) and Tax Deductor and Collector Number (TAN). PAN serves as the tax identification number utilized for filing income taxes, while TAN is an identification number used for depositing taxes withheld from payments.
DIN & DSC
In India, it is mandatory for entities to appoint directors responsible for overseeing company operations. These directors are required to have a Director Identification Number (DIN) and a Digital Signature Certificate (DSC). WBN consulting India can assist you in obtaining these registrations promptly.
FDI & ECB
Most sectors in India do not require prior approval from the government for Foreign Direct Investments (FDI). However, post-facto declarations are necessary. On the other hand, borrowing from sources outside of India is referred to as External Commercial Borrowings (ECB), which does require prior approval. Our assistance includes helping you gather the necessary documents and ensuring full compliance with the regulations.
Other Registrations
Furthermore, various operational registrations are necessary for taxation, employee management, and trade activities. Major licenses include Professional Tax, Provident Fund, Employee State Insurance, Goods & Services Tax, and Import-Export Code. Rest assured, we offer assistance in acquiring these licenses seamlessly, saving you from any hassle.