KIZAD


KIZAD stands for Khalifa Industrial Zone Abu Dhabi. It is a state-of-the-art Free Zone located next to Khalifa port – one of the most developed ports in the world.

As of now, it is the most affordable Abu Dhabi Free Zone.

In came to the market quite recently, together with another popular zone in Fujairah called IFZA, however KIZAD offers more physical facilities, especially for storage, production and distribution.

OFFICES AND WAREHAUSES IN KIZAD

KIZAD industrial zone has one of the highest quality warehouses among all UAE free zones. They do not require high investments in order to move in and start working.

KIZAD master plan is designed to fit all the needs of manufacturing, trading and storage companies. Khalifa Port connects the free zone with more than 60 international destinations.

Apart from that, the free zone offers flexi-desks and offices to accommodate businesses with any business activity.

A good thing about this zone is if you are renting an executive office, the trade license is given free of charge.


Business Activities:-

KIZAD free zone offers a vast list of activities with its focus on the following sectors:

  • Trading
  • Industrial
  • Logistics

It has attractive tax conditions for manufacturers producing goods in the free zone and re-shipping them to other countries. You can claim tax exemption on raw materials as well.
KIZAD also have service activities related to:

  • Management
  • Marketing
  • Freight forwarding support
  • Travel agencies and many more

KIZAD license is allowed to have 5 similar business activities. The business activity will be added to your company name, for example: ABC food and beverages trading LTD.

Service activities require a proof of educational degree



KIZAD LICENSE COSTS

Khalifa Industrial Zone Abu Dhabi can be considered one of the most affordable zones in the UAE. License costs start from 11,000 AED and this package is eligible for 1 resident visa.

Any standard package includes flexi-desk rent.

If you are looking for an office or a warehouse, there are a lot of customized solutions ready to move in. Warehouses costs start from 350 AED per sq meter per year.

BUSINESS SETUP IN THE FREE ZONE

You can register both Free Zone and non Free Zone companies through KIZAD authority. KIZAD company can be a zero visa and visa eligible packages.

There is also an offer to get a dual license with Abu Dhabi Department of Economic Development. It will allow to operate within the free zone and in the mainland area as well.

Documents you need for the setup:
• Passport copy
• Passport size photo
• Bank reference or statement
• CV
• Business plan

KIZAD Khalifa industrial zone does not have a fully remote registration option, but you need to visit its office only once either in Abu Dhabi or Dubai.

Proof of minimum share capital of 26 000 AED is required to be deposited to your corporate account after 60 days from the date of company formation.

KIZAD UAE RESIDENCY

Khalifa industrial zone Abu Dhabi allows to start the visa process only after corporate account of the company is opened and the capital of 26,000 AED is deposited there.

Medical check-up and Emirates ID application can be done only in Abu Dhabi. Health insurance is mandatory. The basic insurance costs about 800 AED.

Visas are valid for 3 years, both for company owners and employees.

KIZAD visa costs (AED):

Viza fees, AED Medical checkup, AED Emirates ID, AED
Investor 3,072 690 370
Employee 3,072 690 370

If you are planning to sponsor dependents, you must have a residential tenancy contract. You need to rent an apartment or a villa only in Abu Dhabi. It differs from the option of business setup in Dubai, where the place of tenancy contract does not matter.

LICENCE RENEWAL

Renewal cost of the license will be exactly the same as its incorporation fee.

Financial audit is not required. Renewal can be done without the physical presence of the company owner.
AMENDMENTS

Company amendments can be applied for only by the company’s shareholders or by a company representative with Power of Attorney.
As usual, amendments can be the following:

• Change of manager/director
• Shares transfer
• Name change
• Activity change

LIQUIDATION

Company liquidation costs 2,625 AED and takes about 1 month.

The company needs to appoint auditors as liquidators and they have to issue confirmation that the company has no liabilities in the market.
All resident visas must be closed prior to the liquidation.

Corporate bank account needs to be closed as well.

 


Type of set-up preferred:
Regular CompanyBranch of UAE-based CompanyBranch of Foreign Company

Estimated Number of Visas required:

Proposed Company Names:


Brief Business Summary:

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IFZA DUBAI


International Free Zone Authority (IFZA) is known to be one of the most cost-effective free zones in Dubai, UAE. Strategically situated within one of the UAE’s dynamic business gateways. IFZA Dubai provides local and international businesses the ideal platforms, infrastructure and location that optimize the benefits of the UAE’s strategic geographic position, world-class infrastructure and business- and tax-friendly environment.

 

FEATURES OF IFZA FREEZONE COMPANY

• Fast & easy freezone company incorporation
• Comprehensive range of business activities
• Consultancy, Service and Trading options
• Physical presence of shareholders is not required
• Limited Liability Companies
• No physical office requirements
• Proof of share capital is not required
• 100% exemption from corporate and income taxes
• 100% foreign ownership
• Zero foreign currency restrictions
• Full repatriation of company profits and capital
• Ability to incorporate holding companies

WHAT MAKES IFZA UNIQUE FREEZONE ?

• No need to submit Annual Audit at Freezone
• 3 years visa for owners and employees
• No Employee guarantee deposit required
• Passport Copy is the only document required
• Physical presence of Company Owners is not required
• Limited Liability Companies with suffix “LLC” & easy to open Bank Account
• Various option of flexi desk and offices available
• No mandatory insurance requirement
• Exemption from Corporate and Income tax
• 100% repatriation of profit.

IFZA Free Zone Company Registration and Visa processing are made easier to you with WISE Consultancy


Business Activities:-

License types available in International free zone authority, Fujairah:-

  • Consultancy License- providing expert and professional consultancy services for professionals.
  • Service License – allows production, re-production, transformation and distribution of services.
  • Trading License – enables the licensee to trade items specified on the trade license.
  • General Trading License – enables the licensee to trade wider range of items.
  • Industrial License – allows to import raw materials, production, re-production, manufacture, package and export.
  • Holding License – allows the holding standalone assets and/or shares in other companies.


 Service LicenseTrading LicenseHolding Company
AED 9,500
Zero Visa LicenseAED 11,500AED 13,500
1 Visa LicenseAED 15,700AED 17,500
2 Visa LicenseAED 17,900AED 20,500
3 Visa LicenseAED 19,700AED 23,500
4 Visa LicenseAED 21,300AED 25,500
5 Visa LicenseAED 22,900AED 27,500
6 Visa LicenseAED 24,700AED 29,500
Extra business activitiesAED 1,000
Office Rental AgreementIncluded in all license packages
License Pre-Approval per Shareholder(s)AED 300
Extra ShareholderAED 350

MULTI YEAR LICENSES:-

2 Year License – 12% Discount off Trade License
3 Year License – 20% Discount off Trade License

Visa servicePrice in AEDGeneral ServicesPrice in AED
Visa status change800License Cancellation2,200
Visa Cancellation500Duplicate Company Document400
E-Channel Refundable Deposit5,000IFZA Letters & NOC’s250
E-Channel Registration Fee2,200Refund – License Administration Fee80% of License application fees
E-Channel Renewal Fee (yearly from 2nd year)1,100License Amendment2,000

 


Type of set-up preferred:
Regular CompanyBranch of UAE-based CompanyBranch of Foreign Company

Estimated Number of Visas required:

Proposed Company Names:


Brief Business Summary:

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Economic Substance Regulations

Click here to download Activities Summary
Click here to download Flow Chart

New Economic Substance Regulations (ESR) compliance has introduced in UAE on 30 April 2019. Every company must comply and check they are in adherence to ESR.

The Regulations require UAE onshore and free zone companies and other UAE business forms that carry out any of the “Relevant Activities” listed below to maintain an adequate “economic presence” in the UAE relative to the activities they undertake.
Related Activities:

• Banking Business
• Insurance Business
• Investment Fund management Business
• Lease – Finance Business
• Headquarters Business
• Shipping Business
• Holding Company Business
• Intellectual property Business (“IP”)
• Distribution and Service Centre Business

The Regulations provide a definition to each of the above Activities. The provisions of the Regulations shall not apply to Companies in which the Federal Government of the UAE or the Government of any Emirate of the UAE, or any governmental authority or body or any of them has at least 51% direct or indirect ownership in their share capital. The Regulations apply to financial years commencing on or from 1 January 2019. Entities that are governed by the Regulations will need to submit a notification to their Regulatory Authority (defined under Cabinet Decision No (58) of 2019 issued on 4 September 2019) from 1 January 2020 onwards, and prepare and submit to the same Regulatory Authority an economic substance declaration within 12 months from the end of their financial year (e.g. 31 December 2020 for entities with a financial year ending 31 December 2019). An entity is not required to meet the economic substance test and file an economic substance declaration for any financial period in which it has not earned income from a Relevant Activity. Failure by an entity to comply with the Regulations shall result in administrative penalties, spontaneous exchange of information with the Foreign Competent Authority (as defined in Article 1 of the Regulations), and potential suspension, revocation or non-renewal of its registration.

Mainland – LLC

  • Flexibility to do business in any part of the UAE with local and government authorities
  • No limit on number of visas (depending on the size of the office space)
  • Office premises anywhere in mainland Dubai
  • More options on business activities
  • Fewer nationality restrictions in ownership and visas compared to other jurisdictions

 

Under the Dubai Department of Economic Development(DED), the main licensing options are:

  • Professional License (Provision of non-physical services e.g. Consultancy)

    • The establishment of entities formed under the UAE Civil Code which are restricted to carrying out “non– commercial” or civil activities. The UAE Civil Code entities (may be an Individual Establishment or a Civil Works Company) include promotion of services, skills, and expertise of the individual(s) conducting the business, as well as other related practices that involve the use or investment of intellectual faculties.
    • Professional companies may be 100% foreign owned. However, it is necessary to appoint a “Local Service Agent” or “Local Sponsor.”
    • To comply with the provisions of UAE law, we propose that one of the local partners of Wise Consultancy will act as the Local Service Agent. The nominated Local Service Agent will not have any management authority or financial commitment and he will only act on your behalf to facilitate the trade license and visa processes necessary to complete your trade license. The Local Service Agent Appointment Contract shall regulate the relationship between the two parties.
    • Depending on the business activity, this can be a LLC (Limited Liability Company) if 51% ownership is given to a UAE National or Company. For the latter and in certain business activities, the shareholders of the UAE company must meet the same criteria as the expat partner/s.
    • Existing companies can only invest in a new Civil Company if they reflect the same business activity as the parent company.
  • Commercial License (Provision of physical services or trading activities)

    • The establishment of a Limited Liability Company (LLC) in Dubai in accordance with the Commercial Companies Law. This is the most widely used commercial entity for companies with foreign ownership wishing to conduct commercial activities and trade in the UAE
    • Each of the partners shall only be liable to the extent of their share capital in the company upon incorporation as stated in the executed Memorandum of Agreement (MOA).
    • Under the UAE Companies Law, a minimum of 51% ownership must be held by a UAE National (Local Partner), and 49% ownership will be that of the foreign shareholder. However, the law permits the issuance of constitutional documents for an LLC to contain provisions designed to protect the interests of the foreign minority shareholder, including but not limited to the profits distribution, assets entitlement, appointment of directors/managers, powers of administration, and influence in decision making.
  • Branch or Representative Office

    • It is stipulated under the UAE Companies Law that 100% foreign ownership is allowed provided that a local service agent is appointed.
    • A Branch office is a legal extension of the parent company and is permitted to secure contracts and conduct business activities, which are similar to those of its parents company subject to the approval of the UAE Ministry of Economy.
    • A Representative office is established to promote the products and services of its parent company but may not carry out any trading activity or enter into commercial transactions and deals by itself. The number of employees allowed under this company is limited to 4.

Licensing Options for  Maximum  Business  Freed​om

​Trade License​​

​Commercial License
​Import, Export, Distribution, consolidation, storage or warehousing of items specific in the license, Maximum limit is
three similar product lines.
​General Trading
​General Trading license can be obtained under a commercial license which allows a large number of products.

​Service license

Service license allows the holder to carry out service specified in the license only.  All type of services are allowed
unless otherwise restricted by the Federal or local authorities.

​Industrial License

​Import  of  raw  materials,  manufacturing,  processing,  assembling, packaging and exporting the finished product.​​​​​​​​​​​​

DEPARTMENT OF ECONOMIC DEVELOPMENT (DED) LICENSE

Corporate LLC SPONSORSHIP
Year 1Year 2
Initial Payment:
Sponsorship: Starting from AED 20,500
DED Payment Voucher Fee: AED 15,000 – 18,000**
Initial Payment:
Sponsorship: Starting from AED 22,500
DED Payment Voucher Fee: AED 10,000 – 15,000**

 

LOCAL SERVICE AGENT
Year 1Year 2
Initial Payment:
Sponsorship: Starting from AED 18,500
DED Payment Voucher Fee: AED 15,000 – 18,000**
Initial Payment:
Sponsorship: Starting from AED 18,500
DED Payment Voucher Fee: AED 10,000 – 15,000**

 

  • * Sponsorship fee may vary depending on the business activities and requirements of clients. The sponsorship fee will increase if the number of employees increases to more than 100 and if a LLC company requires credit facilities on the MOA.
  • * Sponsorship fees for Industrial/Manufacturing licenses starts from AED 75,000.
  • * The Memorandum of Association/Local Service Agent Agreement/Civil Works Agreement drafting and notarizing fees will be approximately AED 1925 (based on a 2 shareholder, AED 100,000 share capital computation).
  • * Payment Voucher for General Trading companies will be approximately AED 25,000 – AED 30,000.
  • * Sponsorship fees, PRO Fees, and License fees are annual and payable upon license expiry.
  • * Upon sign-up, the Name Reservation Fee of 660 AED and Initial Approval Fee of 160 AED must be paid and all actual government payments are invoiced as it is being processed. The client will pay all actual charges to us before any application is made to Dubai DED.
  • * Should an LLC require credit facilities, the company must be able to provide proof of paid up share capital as per the MOA.
  • ** Final Payment Voucher Fees are dependent on the business activity as well as cost of your annual lease (Market Fee is 5%).
  • * DED Payment Voucher Fee needs to be paid annually.

Proposed Company Names:


Brief Business Summary:

License Type
General TradingCommercial LicenseProfessional License

Existing UAE Residence :
YesNo

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Offshore Licence Application Form

Proposed Company Names:


Brief Business Summary:

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Company Formation In UAE

Click here to download FAQ

  • Advantage of Business set up in UAE
    • Well planned, developed & growing economy
    • Part of fast growing economy in GCC country
    • Strong and well balance country with business growth
    • Well developed banking and financial hub
    • Secured and safe business enviourment
    • Basic business rule and policy in line with international business standard
    • Well developed infrastructure, port, transport facility
    • Liberal Immigration policy
    • Well cultured and educated work force
    • Well connected with GCC, Europe, Africa and Asian Market
    • Major hub for MNCs, Trading house and Investment banker
  • Preferred Business Destination

    As per the business study and Government data, major businesses in UAE are:

    • Trading hub – Electronic, Electrical, Computer, Garments & FMCG products
    • Investment banker, Assets Management Companies & Private Equity Funds
    • International banking and financial Hub
    • Shipper and Forwarding Agent, onwards exports and Shipment
    • Gold, Gems and Jewelry, Diamond studded ornaments
    • Tourism, oil, power, automobiles and EPC contracts
    • Garments, Food grain, Pharma, Perfumes and healthcare products
    • Major Trade with GGC, Asian, African and EU Market
  • Type of Business Entity – FZC \ FZE \ LLC
      • Limited Liability Company – LLC Company
      • Free Trade Zone Company – FZC
      • Free Trade Zone Enterprises – FZE
      • Offshore Company

    Limited Liability Company – LLC

    We generally recommend the LLC Company considering the nature of business plan in UAE. It is also commonly known as LLC Company and having separate legal entity. In this LLC, as per norms you need to give 51% shares to local UAE resident Partner. However, you will have full liberty and freedom to do business and day to day banking. UAE partner shall play very limited role in day to day and business policy decision.

    Major benefits of LLC Company

      • It has separate Legal entity in law
      • Shareholders are not liable for company’s debts beyond the own share capital
      • Residence visa available for owners, employees and his family members
      • No Tax filing and no need to maintain any book of account
      • Suitable when plan to do local business in UAE and GCC countries
      • 51 % equity share with UAE Local resident, hence no legal issue in home country

    Free Trade Zone Company – FZC & FZE

    We strongly recommend the Free Trade Zone Company considering the nature of business plan in GCC and overseas market. It is also commonly known as FZC Company and having separate legal entity. In this company, as per norms you will have 100% ownership with you and no need to have any local UAE resident Partner. You will have full liberty and freedom to do business and day to day banking. There are several Free Trade Zones in UAE. Zones are developed considering the location, business focus and priority of the nation’s business policy. Few names are – Jabel Ali FTZ, JLT FZC, SAIF Zone, Azman FZC, Hamaria FZC, RAK FZC and many more. Formation, License fees & time frame varies as per zone policy. Hence depends upon the business plan and products, we shall recommend the suitable zone for you to set up.

    FZC – formed company with more than 2 shareholders and directors.

    FZE – formed company with 1 shareholder and director ( both are same )

    Offshore Company

    Offshore company shall be formed when you are not planning to stay in UAE and do business and investment in any part of world. This is suitable to carry out trading, investment and overseas business. Resident visa is not available to owners.

    Formation & time frame varies as per zone policy. Hence depends upon the business plan and products, we shall recommend the suitable zone for you to set up.

  • Advantage of having Limited Company in UAE & GCC

    Advantage of LLC Company

    49 % ownership allowed in Company by Foreigners and 51% with UAE Local Resident

    Zero tax on profit , income, gain and full repatriation allowed

    Normally 2 or more resident visas are available to stay in UAE for owners \ employees.

    Any individual can incorporate a UAE company.

    Company can do wide range of business & investment with less restrictions

    Local office \ shop \ manufacturing facility can be developed

    Undertake work contract, Infra projects and real estate developments

    Have business set up in any part of UAE and no restriction to do business

    Advantage of FZC\FZE

    100 % ownership allowed in Company by Foreigners.

    Zero tax on profit, income, gain and full repatriation allowed

    Normally 2 resident visas are available to stay in UAE for owners \ employees.

    Any individual or corporate body (overseas) may incorporate a UAE company.

    Easy to form and run the business, ware housing & manufacturing in UAE.

    Minimum One director required to form company and can have more if required

    No Local Shareholder & Director required to form and manage the company

    No major restrictions on the type of business activities that a company can engage in.

    No special approvals are required by foreigner means they are at par with locals.

    No Restriction or obligation for local employment of work force.

    Minimum paid up capital requirement for a UAE company. The usual authorized share capital is AED 150,000

    Company can issue Ordinary shares

    Local Registered office required – provided by Free Trade Zone.

    Your presence is compulsory to form FZC company and open the bank account

    Advantage of Offshore Company

    100 % ownership allowed in Company by Foreigners.

    Zero tax on profit, income, gain and full repatriation allowed

    No need to take resident visas to stay in UAE.

    Your presence is not required to form company

    No audit required at the time of renewal of company

    Any individual or corporate body (overseas) may incorporate a UAE company.

    Easy to form and run the business in UAE and any part of the world

    Minimum One director required to form company and can have more if required

    No Local Shareholder & Director required to form and manage the company

    No major restrictions on the type of business activities that a company can engage in.

    No special approvals are required by foreigner means they are at par with locals.

    No Restriction or obligation for local employment of work force.

    Minimum paid up capital requirement for a UAE company. The usual authorized share capital is AED 100,000.

    Company can issue Ordinary shares

    Local Registered virtual office required – provided by Zone.

    To Form the company in UAE, you need to appoint professional firm for assistance and complete the formalities of formation of company. We shall provide the same.

  • Minimum requirements for registration of a company

    Shareholder either individuals \ Limited entity

      • Know your client – KYC Norms For individual: Copy of passport, overseas residential address proof, and other KYC information such as personal and business profile, etc.
      • If the shareholder is a corporate entity ( in FZC ) : Copy of registration documents such as Certificate of Incorporation and Memorandum & Articles of Association and Board Resolution.

    Director

      • The minimum number of directors is one, who may be a natural person or a body corporate. Directors may be of any nationality. Corporate directors are permitted in FZC.
      • Copy of passport and overseas residential address proof

    Local Director \ Shareholder

      • FZC \ FZE \ offshore Company does not require local UAE resident person.

    Registered office in UAE

    Company need to have registered office in UAE. Free Trade Zone Authority shall provide the registered office address. Post Box No. is allowed to utilize as registered office. In case of LLC company, rented premises shall be used for business and as registered office.

    Upon receipt of the signed incorporation and supporting documents from you, we will proceed to incorporate the company.

  • Foreign Company Registration Options

    Foreign company plans to have presence in UAE, have the choice of setting up business unit as branch office, subsidiary, or representative office in UAE.

    LLC \ FZC\ Overseas Company

      • A separate company formed by shareholder and director of the company. It shall have independent identity. Foreign company shall become shareholder and control it.

    Subsidiary Company

      • A subsidiary company is a FZC \ Offshore company incorporated in UAE with the parent company as its majority shareholder. For small to mid-size foreign businesses, a subsidiary company is the most preferred choice of registration in UAE.

    Branch Office

      • A branch office is registered in UAE as an extension of its parent company and not as a separately incorporated entity. The liabilities of a branch office extend to its parent company.

    Representative Office

    • A representative office is registered in UAE as a temporary arrangement for conducting marketing research activities. A representative office does not have any legal status and cannot be engaged in any profit yielding activities
  • Business trade License & Banking

    A UAE Company has all the powers of a natural person. Government shall provide Business Trade License to carry on the business. It is valid for one year and will be renewed on yearly basis. With this license company can do business in trading, manufacturing, consultancy, investment, marketing and laison work, commission agent, sourcing agent and other major business as permissible under law.

    In UAE there are generally four type of Business Trade License. License fees are varies according to the type of license.

      • General Trade License – Company can do business in all type of products and services
      • Specific Trade License – Company can do business in 2-4 type of products ranges
      • Service License – Company can provide consultancy and services. No trading allowed.
      • Manufacturing and Warehousing License – Company can do manufacturing, processing, packing and repacking, warehousing and logistic. The nature of the actual business activity could be subjected to control and regulation by other Government authorities. Cannot undertake banking or real estate or insurance activities or solicit funds from or sell its shares to the Public.

    Depending on your company’s business activities, you may need to obtain one or more business licenses after you have incorporated your company but before you can commence your business operations.

    Bank account opening

    After successful registration of your UAE Company, you can open a corporate bank account in any of the major banks in UAE such as RAK bank, ADCB bank, HSBC, Standard Chartered, Citibank, Emirate NBD Bank etc. Many of the banks in UAE these days require physical presence of the company principals as part of the account opening procedure.

    While visit to UAE, you have a wider choice of banks to choose from. In this case, you can explore the features and facilities provided by different banks and decide on the bank that best suits your needs.

    While opening the bank account, clients should bring the following documents

    • Original Passport & residence address proof of director & share holder
    • Original UAE company formation documents & Trade License
    • Business profile of director & shareholder
    • Proposed Business plan of the company
    • Bank Reference letter \ statement from existing banker of director – optional
  • Tax, Dividend and other Benefits

    In UAE, there is Zero Tax on profit, income, gain and dividend. It is allowed to repatriate full profit.

    LLC and Offshore company no need to maintain books and file audited account to any authority at time of renewal of Trade license.

    FZC \ FZE needs to do audit of accounts and file the copy of financial to Free Trade Zone Authority every year. However there is zero tax on Income.

    Other Information

    Business Trade License Renewal

    Business Trade License renewal is compulsory every year and need to pay government charges for the same. Any delay shall attract penalty and freeze of bank account after grace period. Even delay may have impact on your resident visa.

    For More detail please visit website of Free Trade Zone few are as follows.

    www.jafza.ae
    www.rakftz.ae
    www.saif-zone.ae
    www.dmcc.ae
    www.afz.ae

  • Documents Required For Company Incorporation

    Director and shareholder – When Individual

    Copy of passport; and

    Copy of residential address proof such as a recent utility bill \ phone bill

    Director and shareholder – When Corporate Bodies

    Copy of registration documents such as Certificate of Incorporation and Memorandum & Articles of Association of parent company and

    Board Resolution for investment with proposed business plan

    Please note the following:

    Presence of shareholder and directors is compulsory for company formation except in case of Offshore company

    All documents must be in English or officially translated in English;

    All copies of documents must be certified true copies by a notary public or self certifying or you must bring the originals for sighting;

    You can email us the scanned copies of documents so we can proceed with preparing the necessary incorporation documents. However we must receive the certified true copies before we can incorporate the company.

    Our compliance department may ask for additional information if necessary.

    Duly filled Company Formation Request Form

  • Company registration procedure and timeline
      • Company registration procedure in UAE is fully computerized by the UAE Companies Registry. As a result, the incorporation process is quick and efficient. Under normal circumstance, the company can be incorporated in 7 working days.
      • There are two distinct steps involved in the UAE company setup procedure:
        • Company Name Approval and;
        • Company Registration. Both steps can be accomplished on the same time.

        Further the Business Trade License shall be obtained from Government Authority. The said license is valid for one year and renewed thereafter.

    Details of directors and shareholders public information in UAE

    Directors and shareholders information is not public information in UAE.

Tax Residency Certificate ( TRC )

Tax Residency Certificate / Tax Domicile Certificate

A certificate issued for eligible government entities, companies and individuals to take advantage of agreements of double taxation avoidance on income signed by the UAE.

How to obtain a TRC:​

A Non Resident may approach the appropriate Income Tax/Ministry of Finance or
relevant Government Authorities of the country where he/she resides to obtain a
TRC.

Kindly note that a TRC is typically valid for one financial year and no other
document in lieu of TRC is considered for availing DTAA benefits. Therefore, it is
mandatory to submit TRC every year in order to avail DTAA benefit without any
hassles.

List of Documents Required for Individuals to obtain TRC:

  1. Copy of the passport.
  2. Copy of valid Residential ID.
  3. A certified copy of (residential) lease agreement.
  4. Source of income/Salary certificate.
  5. A validated 6-month bank statement
  6. A report from the General Directorate of Residency and Foreigners Affairs specifying the number of days the resident has stayed in the UAE.
  7. Tax forms (if any) from the country in which the certificate is to be submitted

List of Documents Required for Companies to obtain TRC:​

  1. A copy of the trade license and partners’ attachment.
  2. Establishment contract certified by official authorities (if it is not a Sole Company).
  3. A copy of the company’s owners/partners/directors’ passports.
  4. A copy of the company’s owners/partners/directors’ IDs.
  5. A copy of the company’s owners/partners/directors’ permits of residence.
  6. A certified copy of the audited financial accounts.
  7. A validated 6-month bank statement.
  8. A certified copy of the lease agreement.
  9. Tax forms (if any) from the country in which the certificate is to be submitted.

Double Taxation Avoidance Agreements (DTAA)

The incidence of double taxation occurs when an individual is required to pay tax more than once on the same income  generated from a country different from his/her home country.

A taxpayer’s own country (referred to as home country) has a sovereign right to tax the individual; the source of income may be in some other country (referred to as host country) which also claims a right to tax the income arising in that country. The result is that income arising to a resident of the home country is subject to tax in the home country as part of the individual’s total world income and, also in host country which provides the source for that income.

The Double Tax Avoidance Agreements (DTAA) is essentially bilateral agreements entered into between two countries.The basic objective is to avoid, taxation of income in both the countries (i.e. Double taxation of same income) and to promote and foster economic trade and investment between the two countries.

The advantage of DTAA are as under:

  1. Lower Withholding Taxes (Tax Deduction at Source)
  2. Complete Exemption of Income from Taxes
  3. Underlying Tax Credits
  4. Tax Sparing Credits

The Non Resident can certainly take the benefit of the provisions of DTAA entered into between UAE and the country from which the person belongs to.

Signed Agreement:

The UAE has 94 agreements in place with other nations to avoid double taxation on investments overseas. Attached is the list of countries with which UAE has entered into DTAA.

Country List/Agreements on the Avoidance of Double Taxation

6/25/20044/24/2001Algeria4/29/20042/13/2001Yemen5/27/19974/10/1996Tunisia7/1/20002/9/1999Morocco6/6/20043/15/2001Sudan1/12/20021/26/2000Syria3/23/19995/17/1998Lebanon3/2/20049/24/2003Mozambique11/20/20002/7/1993Pakistan11/30/19924/29/1992India10/3/20073/27/2007Amendment Protocol3/12/20134/16/2012Amendment Protocol7/4/20049/24/2003Sri Lanka10/20/20089/23/2003Philippines7/18/199612/1/1995Singapore6/1/199911/30/1995Indonesia

Date of RatificationDate of Final SigningCountry
7/16/19954/12/1994Egypt
3/9/20059/22/2003South Korea
Under Ratification10/31/2014Singapore / Amendment Protocol
1/4/20013/1/2000Thailand
1/4/20013/1/2000Thailand
9/24/199611/28/1995Malaysia
7/22/19947/1/1993People’s Republic of China
7/29/20049/24/2003New Zealand
3/9/20042003Ukraine
2/1/20012/27/2000Belarus
1/23/19964/11/1993Romania
Under Ratification5/4/2015Romania (New)
12/30/20116/9/1998Turkmenistan
9/23/20034/22/2002Armenia
3/27/200012/17/1995Tajikistan
2/24/20042/21/2001Mongolia
9/23/20049/23/2003Austria
2/3/19941/31/1993Poland
5/1/201512/11/2013Poland / Amendment Protocol
7/14/20117/1/2010Germany
12/26/19973/12/1996Finland
10/5/19971/22/1995Italy
1/1/20059/30/1996Czech Republic
11/8/19947/19/1989France
12/22/20039/30/1996Belgium
6/19/200911/20/2005Luxembourg
Under Ratification10/26/2014Luxembourg / Amendment Protocol
1/29/19951/29/1993Turkey
5/25/20046/9/2002Canada
9/25/20079/18/2006Mauritius
4/14/20079/19/2006Seychelles
5/19/20099/18/2006Bosnia and Herzegovina
6/12/200711/20/2006Azerbaijan
4/2/20073/5/2006Spain
9/13/20063/13/2006Malta
6/2/20105/8/2007Netherlands
11/16/20086/26/2007Belgium
2/25/201110/26/2007Uzbekistan
11/27/201312/22/2008Kazakhstan
4/12/20102/16/2009Vietnam
Under Ratification1/18/2010Greece
Under Ratification6/27/2013Amendment Protocol
7/6/20117/1/2010Ireland
4/28/201111/24/2010Georgia
6/20/201112/11/2010Venezuela
5/22/20121/17/2011Portugal
6/13/20111/17/2011Bangladesh
3/17/20132/27/2011Cyprus
3/29/20124/20/2011Estonia
10/21/201210/6/2011Switzerland
7/9/201411/13/2011Guinea
Under Ratification11/21/2011Kenya
6/23/201312/7/2011Russia
6/11/20133/11/2012Latvia
2/11/20133/26/2012Montenegro
12/20/20139/2/2012Fiji
Under Ratification9/24/2012Palestine
10/23/201310/13/2012Panama
7/9/201411/20/2012Mexico
7/2/20131/13/2013Serbia
Under Ratification3/4/2013Benin
Under Ratification4/1/2013Libya
10/4/20144/30/2013Hungary
12/24/20145/2/2013Japan
11/21/20145/21/2013Nation of Brunei, the Abode of Peace
12/19/20146/30/2013Lithuania
9/29/201410/12/2013Slovenia
3/25/20153/13/2014Albania
Under Ratification9/22/2014Barbados
Under Ratification10/10/2014Uruguay
Under Ratification12/7/2014Kyrgyzstan
Under Ratification12/11/2014Hong Kong
Under Ratification2/12/2015Bermuda
Under Ratification3/26/2015Comoro Islands
Under Ratification4/12/2015Ethiopia
Under Ratification6/8/2015Uganda
Under Ratification7/27/2015Gambia
Under Ratification7/28/2015Andorra
Under Ratification10/1/2015Belize
Under Ratification10/1/2015Liechtenstein
Under Ratification10/22/2015Mauritania
Under Ratification10/21/2015Senegal
Under Ratification10/26/2015Macedonia
Under Ratification11/23/2015South Africa
Under Ratification12/21/2015Slovakia
Under Ratification01/18/2016Nigeria

Banking Accounts

A Non Resident Indian (NRI) can open the following Bank accounts:

  1. Non-Resident External Account (NRE A/c):

    An NRI may open an NRE current account, savings bank account, recurring, fixed deposit account which is denominated in INR (Rupees). It may be opened during a temporary visit to India. It can be jointly held with other NRI(s) or a close relative who may be a resident.The account can be operated by a Power of Attorney (POA) holder subject to restrictions. Nomination facility is available. The interest earned on NRE account is exempt as per Indian Income Tax laws. Hence, no tax is deducted at source on such interest earned. Funds are freely repatriable outside India from such an account.

  2. Non Resident Ordinary Account (NRO A/c):

    Any person resident outside India as per FEMA, may open an NRO current account, savings bank account, recurring or fixed deposit account which is denominated in INR (Rupees). It can be jointly held with residents or other NRI(s). The account can be operated by a Power of Attorney (POA) Holder subject to restrictions.Nomination facility is available. The interest earned on NRO account is taxable as per Indian Income Tax laws. Funds up to USD 1 million can be repatriated outside India or to NRE Account from such account in a financial year. A person resident in India who is settling abroad can transfer the balances lying in saving account to NRO account.

  3. Foreign Currency Non Resident (Bank) Account – FCNR Account:

    NRIs are eligible to open and maintain FCNR Deposits. It may be opened during a temporary visit to India. It is in the form of deposits with maturity of 1 – 5 years. It is denominated in any freely convertible currency. It can be jointly held with other NRI(s) or a close relative who may be a resident. Such close relative will be eligible to operate the account as a POA holder. Interest on FCNR account is exempt under the income tax laws for an NRI as well as Resident but not ordinarily resident.

Permanent Account Number (PAN)

Permanent Account Number (PAN) is a UNIQUE 10-digits alpha numeric number allotted by the Income Tax Department. It is issued in the form of a laminated card. It is PERMANENT, and the number will not change with change of address of the PAN holder or change of Income Tax Officer. The Income Tax Department issues PAN in partnership with UTI Technology Services Ltd and National Securities Depository Ltd. It is a simple process of filling up a form, attaching required photographs and necessary documents in order to obtain a PAN number. One needs to submit the requisite application in Form No 49A or Form No. 49AA (depending on citizenship). Every person assessable to tax or satisfying certain criteria is required to obtain PAN. Further, PAN is mandatory for transacting in financial markets in India.

  • Statutory Requirement

    Under the Income-tax Act, 1961, the following persons resident or non-resident have statutory obligation for acquiring and quoting PAN:

    1. If ones total income during any financial year exceeds the basic exemption limit under Income-tax Act,1961 or the total sales or gross receipt of business/Profession are likely to exceeded Rs. 5 lakhs in any previous year.
    2. Other prescribed persons under the Income-tax Act,1961.
  • General Requirement

    It is necessary to quote PAN or provide the copy of PAN card for entering into following transactions.

    1. For filing the Returns of Income, challans for payment of Income Tax.
    2. Opening of an account with a Bank, Demat Account for shares.
    3. For investing in shares and securities i.e. Initial Public Offers, Portfolio Investment Schemes and Portfolio Management Schemes, Mutual Funds.
    4. Sale or purchase of immovable property valued at Rs. 10 lakhs or more,
    5. Sale or purchase of motor vehicle
    6. Where non-resident has any income on which tax has been deducted, PAN is to be given to the person deducting tax.
    7. Other transactions

Liberalised Remittance Scheme

LRS is a scheme introduced for all resident individuals including minors to remit outside India for all the permissible Current / Capital account transactions up toUSD 250,000 per financial year (April-March) per person (including minor individuals) without RBI permission.

If an individual has already remitted any amount under the LRS, then the applicable limit for such an individual would be reduced from the present limit of USD 250,000 for the financial year by the amount already remitted. The permissible capital account transactions by an individual under LRS are: 

  1. Opening of foreign currency account abroad with a bank;
  2. Purchase of property abroad
  3. Making investments abroad
  4. Setting up Wholly owned subsidiaries and Joint Ventures abroad
  5. Extending loans  in Indian Rupees to Non-resident Indians (NRIs) who are relatives as defined in Companies Act, 2013.

Current Account Transactions:

Individuals can avail of foreign exchange facility for the following purposes within the limit of USD 250,000 only. Any additional remittance in excess of the said limit for the following purposes shall require prior approval of the Reserve Bank of India.

  1. Private visits to any country (except Nepal and Bhutan)
  2. Gift or donation.
  3. Going abroad for employment
  4. Immigration
  5. Maintenance of close relatives abroad
  6. Travel for business, or attending a conference or specialised training or for meeting expenses for meeting medical expenses, or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment/ check-up.
  7. Expenses in connection with medical treatment abroad
  8. Studies abroad
  9. Any other current account transaction

Exceptions

However, for the remittance of amount for the purpose of Emigration or in connection with the medical treatment or studies abroad, an individual may avail of exchange facility for an amount excess of the overall limit prescribed under the LRS, if it is so required by a country of immigration, medical institute offering treatment or the university respectively.

Also, gift in Indian Rupees by resident individuals to NRI relatives as defined in the Companies Act, 2013 shall also be subsumed under the LRS limit.

Persons other than individuals can make remittances for the below purposes:

  1. Donations for educational institutions;
  2. Commissions to agents abroad for sale of residential flats/commercial plots in India;
  3. Remittances for consultancy services and
  4. Remittances for reimbursement of pre-incorporation expenses

within the limit and conditions laid down therein

Persons other than individuals (such as corporates, trusts; etc.) can remit upto USD 2.50,000 under LRS Facility for any current account transaction as mentioned above.

All other transactions which are otherwise not permissible under FEMA and those in the nature of remittance for margins or margin calls to overseas exchanges / overseas counterparty are not allowed under LRS.

The resident individual investors can retain and re-invest the income earned on investments made under LRS. The residents are not required to repatriate the funds or income generated out of the investments made abroad under LRS to India.

Residential Status Under FEMA

Residential status of individuals:

Residential status as per Foreign Exchange Management Act, 1999 (FEMA) is determined by the number of days in India in the preceding financial year (FY) and / or the purpose of stay.

  1. A person is said to be resident in India if he has resided in India for more than 182 days during the preceding FY and:
    • He has gone out of India for purpose other than employment outside India / other than business or vocation outside India / for a certain period or
    • He has come for employment in India / for carrying on business or vocation in India / for an uncertain period.
  2. Similarly, a person is said to be a person resident outside India if he has resided in India for 182 days or less, during the preceding FY and:
    • He has gone out of India for purpose other than employment outside India / other than business or vocation outside India / for a certain period or
    • He has come for employment in India / for carrying on business or vocation in India / for an uncertain period.
  3. When a person comes to India for a purpose other than employment / other than business or vocation / for a certain period, he shall be a person resident outside India irrespective of the number of days he spent in India in the preceding FY.
  4. When a person goes out of India for the purpose of employment / business or vocation / for an uncertain period, he shall be a resident outside India irrespective of the number of days he spent in India in the preceding FY.

Residential status of other entities:

The following entities are persons resident in India:

  1. Any person/body corporate registered/incorporated in India
  2. An office, branch or agency in India owned or controlled by a person resident outside India.
  3. An office, branch or agency outside India owned or controlled by a person resident in India.

Apart from above, all the other entities are considered to be person resident outside India.

Residential Status under Income Tax Act

The status of a person as a resident or non-resident depends on his period of stay in India. The period of stay is counted
in number of days for each financial year beginning from 1st April to 31st March (known as previous year under the Income-tax
Act). The definition is explained in simple terms as under.

If an individual who satisfies understated both the conditions of section 6 of the Income-tax Act, then he becomes a Non-Resident.

ConditionStatus
1.He is not in India for 182 days or more during the relevant previous year.If yes, then he is a non-resident. (so check the next condition.)
2.He is not in India for 60 days or more during the previous year and he is not in India for 365 days or more during
the 4 years prior to the previous year.
If yes, then he is a non-resident.

If you are not satisfying any of the above conditions to become non-resident, check whether following assists you to become a non-resident.

Exceptions

The requirement of stay in India as required in condition 2 above shall not be applicable in the following cases: o If an
individual, being an Indian citizen leaving India for the purpose of employment outside India or as a member of the crew
of an Indian ship. o If an individual, being an Indian citizen or person of Indian origin, is on visit to India. In other
words, the above categorized individuals are non-resident if they satisfy condition “1” alone.

However, if the above conditions are not satisfied, then a person becomes a resident.

Resident but not ordinarily Resident (RNOR):

A person is given a special residential status of RNOR, if he is Resident of India in the previous year and satisfies one of the following conditions:

ConditionStatus
1.He is not a resident, as per the above provisions, for at least 9 out of 10 previous years prior to the previous
year under consideration.
If yes, he is RNOR
2.His stay in India during the 7 previous year prior to the previous year under consideration should not be 730
days or more
If yes, he is RNOR

Note: Generally, a person who is returning to India after 9 years or more of stay outside India (and who was non-resident
for each of the 9 years out of 10 years immediately preceding the year of returning to India under the Act) , may remain
RNOR for the period of two years.

Company Formation In Bvi

Click here to download FAQ

  • Advantage of Business Set in BVI
    • Well planned, developed & growing economy
    • Part of fast growing economy in EU country
    • Strong and well balance country with business growth
    • Well developed banking and financial hub
    • Secured and safe business enviourment
    • Basic business rule and policy in line with international business standard
    • Well developed infrastructure, port, transport facility
    • Liberal Immigration policy
    • Well cultured and educated work force
    • Well connected with EU, Europe, Africa and Asian Market
    • Major hub for MNCs, Trading house and Investment banker
  • Preferred Business Destination

    As per the business study and Government data, major businesses in BVI are:

    • Investment banker, Assets Management Companies & Private Equity Funds
    • International banking and financial Hub
    • Asset Management and remain holding company to avail tax benefits
    • Shipper and Forwarding Agent, onwards exports and Shipment
    • Trading hub – Electronic, Electrical, Computer, Garments & FMCG products
    • Gold, Gems and Jewelry, Diamond studded ornaments
    • Tourism, oil, power, automobiles and EPC contracts
    • Garments, Food grain, Pharma, Perfumes and healthcare products
    • Major Trade with GGC, Asian, African and EU Market
  • Type of Business Entity
    • Limited Liability Company – IBC Company – International Business company
    • BC Company

      We strongly recommend the BC Company considering the nature of business plan in EU and overseas market. It is also commonly known as BC Company and having separate legal entity. In this company, as per norms you will have 100% ownership with you and no need to have any local BVI resident Partner. You will have full liberty and freedom to do business and day to day banking.

      Formation, License fees & time frame normally 3 working days.

      Under the BVI Business Companies Act 2004, companies incorporated in BVI are defined Business Company (BC).
      BVI BC’s are very popular and widely used offshore companies because of their administrative ease, flexibility, taxation exempt status and the fact that they are widely accepted and recognized by the international financial community.
      Formation & time frame – 4 working days

  • Advantage of having Limited Company in Hong Kong
      • 100 % ownership allowed in Company by Foreigners.
      • Zero tax on profit, income, gain and full repatriation allowed
      • Any individual or corporate body (overseas) may incorporate a BVI company.
      • Easy to form and run the business, ware housing & manufacturing in any part of world
      • Minimum One director required to form company and can have more if required
      • No Local Shareholder & Director required to form and manage the company
      • No special approvals are required by foreigner means they are at par with locals.
      • No Restriction or obligation for local employment of work force.
      • No major restrictions on the type of business activities that a company can engage in.
      • No special approvals are required by foreigner means they are at par with locals.
      • No Restriction or obligation for local employment of work force.
      • Minimum paid up capital requirement is USD 1 for a BVI company & Authorized USD 50000
      • Company can issue Ordinary shares
      • Local Registered office required – provided by us.
      • Your presence is not compulsory to form BVI company and open the bank account
      • No audit required at the time of renewal of company

    To Form the company in BVI, you need to appoint professional firm for assistance and complete the formalities of formation of company. We shall provide the same.

  • Minimum requirements for registration of a BVI company
    • One Shareholder either individuals \ Limited entity

      • Know-Your-Client – KYC Norms For individual: Copy of passport, overseas residential address proof, and other KYC information such as personal and business profile, etc.
      • If the shareholder is a corporate entity ( in BVI ) : Copy of registration documents such as Certificate of Incorporation and Memorandum & Articles of Association and Board Resolution.
    • One Director either individuals \ Limited entity

      • The minimum number of directors is one, who may be a natural person or a body corporate. Directors may be of any nationality. Corporate directors are permitted in BVI.
      • Copy of passport and overseas residential address proof
    • Local & nominee Director \ Shareholder – Optional

      • BVI \ offshore Company does not require local BVI resident person.
    • Registered office in BVI

      Company need to have registered office in BVI. We shall provide the registered office address. Post Box No. is allowed to utilize as registered office.

    • Upon receipt of the signed incorporation and supporting documents from you, we will proceed to incorporate the company.
  • Foreign Company Registration Options

    Foreign company plans to have presence in BVI, have the choice of setting up business unit as branch office, subsidiary, or representative office in BVI.

    • BVI\ Overseas Company

      • A separate company formed by shareholder and director of the company. It shall have independent identity. Foreign company shall become shareholder and control it.
    • Subsidiary Company

      • A subsidiary company is a BVI \ Offshore company incorporated in BVI with the parent company as its majority shareholder. For small to mid-size foreign businesses, a subsidiary company is the most preferred choice of registration in BVI.
    • Branch Office

      • A branch office is registered in BVI as an extension of its parent company and not as a separately incorporated entity. The liabilities of a branch office extend to its parent company.
    • Representative Office

      • A representative office is registered in BVI as a temporary arrangement for conducting marketing research activities. A representative office does not have any legal status and cannot be engaged in any profit yielding activities.
  • Business trade License & Banking
    • A BVI Company has all the powers of a natural person. To carry out international business License is not required for BVI Company.The company can do international business in trading, manufacturing, consultancy, investment, marketing and laison work, commission agent, sourcing agent and other major business as permissible under law.
    • Bank account opening

      After successful registration of your BVI Company, you can open a corporate bank account in any of the major banks in BVI such as HSBC, Standard Chartered, Citibank, etc. Many of the banks in BVI these days require physical presence of the company principals as part of the account opening procedure. However it is not compulsory to visit BVI to open the bank account.

      While visit to BVI, you have a wider choice of banks to choose from. In this case, you can explore the features and facilities provided by different banks and decide on the bank that best suits your needs.However you can open the bank account in your home country if allowed. Otherwise many offshore destination allowed to open the bank account of BVI company.

    • While opening the bank account, clients should bring the following documents

      • Original Passport & residence address proof of director & share holder
      • Original BVI company formation documents & Trade License
      • Business profile of director & shareholder
      • Proposed Business plan of the company
      • Bank Reference letter \ statement from existing banker of director – op
  • Income Tax, Dividend and other Benefits
    • In BVI, there is Zero Tax on profit, income, gain and dividend. It is allowed to repatriate full profit. BVI company no need to maintain books and file audited account to any authority at time of renewal.
      BVI needs to do submit the Annual Tax Return to Company Authority every year. However there is zero tax on Income.
    • Other Information – Annual Tax filing

      BVI needs to do submit the Annual Tax Return to Company Authority every year. However there is zero tax on Income.
      To carry out international business License is not required for BVI Company. Filing of annual return is not required

    • For More detail please visit website of Free Trade Zone few are as follows.www.bvifsc.vg www.bvi.org.uk
  • Documents Required For Company Incorporation
    • Director and shareholder – When Individual

      • Copy of passport and
      • Copy of residential address proof such as a recent utility bill \ phone bill
    • Director and shareholder – When Corporate Bodies

      • Copy of registration documents such as Certificate of Incorporation and Memorandum & Articles of Association of parent company and
      • Board Resolution for investment with proposed business plan
    • Please note the following:

      • No Presence of shareholder and directors required for company formation.
      • All documents must be in English or officially translated in English;
      • All copies of documents must be certified true copies by a notary public or self certifying.
      • You can email us the scanned copies of documents so we can proceed with preparing the necessary incorporation documents. However we must receive the certified true copies before we can incorporate the company.
      • Our compliance department may ask for additional information if necessary.
      • Duly filled Company Formation Request Form
  • Company registration procedure and timeline
    • Company registration procedure in BVI is fully computerized. As a result, the incorporation process is quick and efficient. Under normal circumstance, the company can be incorporated in 3 working days.
    • There are two distinct steps involved in the Hong Kong company setup procedure:
      • Company Name Approval and;
      • Company Registration.

      Both steps can be accomplished on the same time.

      Details of directors and shareholders public information in BVI

      Directors and shareholders information is not public information in BVI.

    • Public information about company in Singapore

      Directors and shareholders information is public information in Singapore. It’s listed in the company’s business profile extract available for purchase from Registrar of Companies.

Company Formation In India

Click here to download FAQ

  • Advantage of Business set up in India
    • Well Planned economy and developed infrastructure
    • Popular destination for business set up and investment
    • Secured and safe business transaction & Investment Banking
    • Major Multinational bank, Treading house & MNC have set up in India
    • Well cultured and educated work force, Second Largest market in World
    • Well connected with Asian, American, Europe, Far East and GCC Market
    • Major hub for MNCs, FIIs and Investment banker
    • Secured legal environments & Pro active Government Policy
    • Liberal Immigration policies
    • Safe and Stable government, clear FDI policy
    • Majorly allow in all sector more than 51 % equity participation by Foreign National \ MNC
  • Preferred Business Destination

    As per the business study and Government data, major businesses in India are:

    • Manufacturing hub – Steel, Automobile, Telecommunication, Space, Pharma, Textile, Electronic, Electrical, Computer and accessories & FMCG products
    • Investment banker, Assets Management Companies & Private Equity Funds
    • Oil & Gas, Airlines, Shipper, logistic and Forwarding Agent
    • Equipment and mega infra structures
    • Turnkey project and infrastructure
    • Gems and Jewelry, Diamond studded ornaments
    • Travel & Tourism, Ticketing, Electronic Media, Satellites & Broadcasting
  • Type of Business Entity
    • Limited Liability Company – Private Limited Company
    • Limited Liability Partnership Firm – LLP
    • One Person Private Company – OPC ( Not allowed for Foreign National to form )
    • Limited Company

      We generally recommend the Private limited Company considering the nature of business to set up in India. It is also commonly known as Private Limited Company and having separate legal entity. According to India Companies Act, any person (foreign or local) above the age of 18 can register Indian company.

      Foreign companies & entrepreneurs that are keen on exploring the viability of doing business in India will be required to incorporate Indian company as legal entities with the Registrar of Companies and under the Companies Act, 2013, India.

    • Major benefits of Limited Company

      • It has separate Legal entity in law
      • Shareholders are not liable for company’s debts beyond the own share capital

      The Ministry of Corporate Affairs of India (MCA) controls the registration of business firms and incorporation of companies. However, the nature of the actual business activity could be subjected to control and regulation by other Government authorities. India Private Limited Company is companies incorporated under the India Companies Act, 2013.

      In Private Limited Company – minimum 2 shareholders and 2 directors

      In Public Limited Company – minimum 7 shareholders and 3 directors

    • Limited Liability Partnership Firm

      This nature of business unit is having advantage of partnership firm and private limited company. It has been introduced in India LLP was introduced in India through enactment of Limited Liability Partnership Act. A LLP is primarily meant for carrying a profession \ business like accountants, lawyers, architects, business, Real estate etc. where two or more professionals would like to start and build a joint practice in a common field. The partners enter into detailed agreements about share of responsibility, share of profit and management responsibilities. Minimum 2 partners required.

  • Advantage of having Limited Company in India
      • 100/ 74 / 51 / 26 % ownership allowed in Limited Company by Foreigners depend on nature of business activities under Foreign Direct Investment Route.
      • Any individual or business entity (local or overseas) may incorporate Indian company.
      • Easy to form and run the business without visiting India \ Resident Visa.
      • Business Visa \ Employment visa can be availed for owners and his family
      • Minimum Income tax, capital gain tax & withholding tax on dividend. DTAA available
      • No restrictions on the type of business activities that a company can engage in.
      • No special approvals are required by foreigner means they are at par with locals.
      • No Restriction or obligation for local employment of work force.
      • Minimum paid up capital requirement for India company is just INR 100,000\.
      • Local Share holder \ Director \ Company Secretary necessary for compliance

    To Form the company in India, you need to appoint professional firm for assistance and complete the formalities of formation of company. We shall assist for the same.

  • Minimum requirements for registration of a India company
    • In Private Limited Company – minimum 2 shareholders and 2 directors – Capital INR. 100,000\
    • In Public Limited Company – minimum 7 shareholders and 3 directors – Capital INR. 500,000\-
    • Shareholder either individuals \ Limited entity

      • Know-Your-Client – KYC Norms For individual: Copy of passport, overseas residential address proof, KYC information such as personal and business profile, etc.
      • If the shareholder is a corporate entity: Copy of registration documents such as Certificate of Incorporation and Memorandum & Articles of Association and Board Resolution.
    • Director either individual \ Limited entity

      • The minimum number of directors is one, who may be a natural person or a body corporate. Directors may be of any nationality, and need not be resident in India.
      • Corporate directors are permitted.
    • Local Director \ shareholder – Optional

      • Singapore company does not required to have local Hong Kong resident director & shareholder. It is optional.
      • At least one of director must be ordinarily resident in Singapore. i.e. Singaporean/ Singapore Permanent Residence (PR)/ Singapore Employment Pass Holder. We shall assist to arrange the same.
    • Local Director \ shareholder \ Company Secretary – Compulsory

      • India Company requires to have local India resident director, shareholder and company secretary. We shall assist to arrange the same
      • At least one of director must be ordinarily resident in India. i.e. Indian/ India Permanent Residence (PR)/ India Employment Pass Holder. We shall assist to arrange the same.
    • Registered office in India

      Company need to have registered office in India. We shall provide the registered office address. Post Box No. is not allowed to utilize as registered office.

    • Qualified Company Secretary

      Company need to appoint company secretary to keep and update the secretarial records and minutes of the meeting. It also requires to submit the necessary documents with Registrar of Companies on yearly basis. We shall provide the company secretary.

    • Upon receipt of the signed incorporation and supporting documents from you, we will proceed to incorporate the company with Registry of Companies.
  • Foreign Company Registration Options

    Foreign company plans to have a presence in India, have the choice of setting up business unit as branch office, subsidiary or representative office in India.

    • Private Limited Company

      • A separate company formed by shareholder and director of the company. It shall have independent identity in company law. Foreign company shall become shareholder and control it.
    • Subsidiary Company

      • A subsidiary company is a private limited company incorporated in India with the parent company as its majority shareholder. For small to mid-size foreign businesses, a subsidiary company is the most preferred choice of registration in India.
    • Branch Office

      • A branch office is registered in India as an extension of its parent company and not as a separately incorporated entity. The liabilities of a branch office extend to its parent company.
    • Representative Office

      • A representative office is registered in India as a temporary arrangement for conducting marketing research activities. A representative office does not have any legal status and cannot be engaged in any profit yielding activities.
  • Business trade License & Banking
    • The nature of the actual business activity could be subject to control and regulation by other Government authorities.
      Company need to obtain PAN – Income tax Number and VAT \ Service Tax registration before carry out business in India.
      Depending on your company’s business activities, you may need to obtain one or more business licenses after you have incorporated your company but before you can commence your business operations. Fortunately, very few business activities require such a license. Generally, it may take between 2 weeks to 2 months to get a license or permit. Examples of business activities that require a business license(s) include restaurants, educational institutes, travel agencies, financial services, import/export of goods, etc.
    • Bank account opening

      After successful registration of your India company, you can open a corporate bank account in any of the major banks in India such as State Bank, Bank of India, HSBC, Standard Chartered, Citibank, HDFC Bank, ICICI bank, etc. Many of the banks in India these days require physical presence of the company principals as part of the account opening procedure.

      While visit to India, you have a wider choice of banks to choose from. In this case, you can explore the features and facilities provided by different banks and decide on the bank that best suits your needs.

    • While opening the bank account, clients should bring the following documents

      • Original Passport & residence address proof of director & share holder
      • Original India company formation documents
      • Business profile of director & shareholder
      • Proposed Business plan of the company
      • Bank Reference letter \ statement from existing banker of director – optional
  • Income Tax, Dividend and other Benefits
    • Income Tax

      India has arrangement with a number of jurisdictions for double taxation relief of Export, shipping or airline income. It has also comprehensive double tax avoidance agreements ( DTAA ) with many countries to relieve taxation on income, for instance, dividends, interest and royalties. Therefore, businesses operating in India do not generally have problems with double taxation of income.

    • Tax Rates

      Income tax is Flat rate of 30 % plus surcharges. Minimum Alternate Tax also application where tax exemption and benefits availed.

    • Other Income – Capital Gain

      • India capital gains tax or withholding tax: 10 \ 20 % capital gains tax
    • Dividend

      • India does levy a withholding tax on dividends.
      • Dividends paid by a India Private Limited Company are tax exempt in hand of Shareholders
        Interest, royalties or rental of equipment payments to non-residents are subjects to a withholding tax.

      Interest, royalties or rental of equipment payments to non-residents are subjects to a 15% withholding tax.

    • For More detail please visit website www.incometaxindiaefiling.gov.in For More detail please visit website www.incometaxindia.gov.in
    • Other Information – Annual filing requirements for India companies

      Once your Indian Company has been incorporated, the Companies Act dictates certain annual filing requirements and formalities. For more details on this, see annual filing requirements for India companies.

      The company law requires that each company formed in India must file its accounts (audited) with the Registrar of Companies of India on an annual basis.

      For More detail please visit website of Accounting and Corporate Regulatory Authority of Singapore.

      For More detail please visit website of Company Registrar

  • Documents Required For Company Incorporation
    • Director and shareholder – When Individual

      • Copy of passport and
      • Copy of residential address proof such as a recent utility bill, phone bill & Driving License
    • Director and shareholder – When Corporate Bodies & Nominee Director

      • Copy of registration documents such as Certificate of Incorporation and Memorandum & Articles of Association of parent company and
      • Board Resolution for investment with proposed business plan

      For each Singapore resident individual director

      • Copy of India Adhar Card, ID proof, PAN Card and Address proof
    • Please note the following:

      • All documents must be in English or officially translated in English.
      • All copies of documents must be certified true copies by a notary public or self certifying or you must bring the originals to India office for sighting.
      • You can email us the scanned copies of documents so we can proceed with preparing the necessary incorporation documents. However we must receive the certified true copies before we can incorporate the company.
      • Our compliance department may ask for additional information if necessary.
      • Duly filled Company Formation Request Form
  • Company registration procedure and timeline
    • Company registration procedure in India is fully computerized. As a result, the incorporation process is quick and efficient. Under normal circumstance, the company can be incorporated in 15-20 working days.
    • There are three distinct steps involved in the India company setup procedure:
      • Apply and obtain Digital Signature and Director Identification Number of Director
      • Company Name Approval and;
      • Company Registration. – submit MOA & AOA, shareholder & director list, Registered office address proof. All document duly signed by shareholders.
    • Public information about company in India

      Directors and shareholders information is public information in India. It’s listed in the company’s business profile extract available for purchase from Registrar of Companies.