Globalca

India is the world's largest democracy and one of the fastest growing economies. As multinationals across the world shift their focus and approach to India, it is important that the country's tax and regulatory policies are well understood for optimizing growth and success opportunities. The Indian home grown business houses interested in or aiming to set-up a shop abroad or list on the overseas bourses need to understand and stride through an interplay of cross border taxes and regulations for converging on an suitable approach.

Industry focus is fundamental to our approach and encompasses sectors of financial services, information, communication and entertainment, consumer markets, industrial markets, and infrastructure and government.

Being internationally networked with other members firm offices across the globe, we are well positioned to serve as a single-point source for providing international tax advice and approaches. A modern information technology backbone and an up-to-date knowledge management system helps our professionals to keep abreast of the latest international developments. This equips us to pro-actively identify issues, suggest planning, and co-ordinate specializations across jurisdictions for discharging global tax assignments in a timely and cost-effective manner.

The Registrar of Companies (ROC) is the authority having jurisdiction over the incorporation. The steps required are:

1.  
   1. Decide on the Partners and the Designated Partners
   2. Obtain Designated Partner Identification Number (DPIN) and a digital signature certificate
   3. Decide on the name of the LLP and check whether it is available
   4. Draft the LLP agreement
   5. File the LLP Agreement, incorporation documents and obtain the Certificate of Incorporation

Limited Liability Partnership (LLP) in India
Limited liability partnership firm is a new business structure in India formed under the Limited Liability Partnership Act, 2008. A hybrid of existing partnership firms and full-fledged companies, it is a separate legal entity, liable to the full extent of its assets with the liability of the partners being limited to their agreed contribution in the firm.
Features of a LLP

1.  
   1. LLP is a separate legal entity separate from its partners, can own assets in its name, can sue and be sued.
   2. Unlike corporate shareholders, the partners have the right to manage the business directly
   3. One partner is not responsible or liable for another partner’s misconduct or negligence.
   4. Minimum of 2 partners and no maximum
   5. Should be ‘for profit’ business
   6. Has Perpetual succession
   7. The rights and duties of partners in LLP, will be governed by the agreement between partners and the partners have the flexibility to devise the agreement as per their choice. The duties and obligations of Designated Partners shall be as provided in the law.
   8. Liability of the partners is limited to the extent of his contribution in the LLP. No exposure of personal assets of the partner, except in cases of fraud.
   9. Foreign nationals can be partners in LLP.

FOREIGN DIRECT INVESTMENT IN LLP
Foreign direct investment in LLP is allowed, with the specific approval of the government, in those sector /activities where 100% FDI is otherwise allowed under the automatic route and there are no FDI-linked performance related conditions.

FDI in LLPs is permitted, subject to the following conditions

• FDI in LLPs is allowed through the Government approval route for LLPs. The approval will be granted only in sectors/activities where 100% FDI is allowed under automatic route and wher there are no FDI-linked performance related conditions.
• LLPs with FDI will not be allowed to operate in agricultural/plantation activity, print media or real estate business.
• An Indian company, having FDI, will be permitted to make downstream investment in an LLP only if both-the company, as well as the LLP are operating in sectors where 100% FDI is allowed, through the automatic route and there are no FDI-linked performance related conditions.
• LLPs with FDI will not be eligible to make any downstream investments.
• Foreign Capital participation in the capital structure of LLPs will be allowed only by way of cash   consideration, received by inward remittance, through normal banking channels or by debit to NRE/FCNR account of the person concerned, maintained with an authorised dealer/authorised bank.
• Investment in LLPs by Foreign Institutional Investors (FIIs) and Foreign Venture Capital Investors (FVCIs) will not be permitted. LLPs will also not be permitted to avail External Commercial   Borrowings (ECBs).

• Local documentation studies (including issuance of an Accountants Report) functions & risk analysis comparability analysis.
• Multi-jurisdictional documentation studies
• Planning study (margins reviews for budgeting, new transaction planning)
• Supply chain re-structuring
• Representation & litigation support (including controversy management)
• Review of agreements from a transfer pricing perspective
• Structuring cost sharing arrangements for inter-company transactions

We provide services & consultancy for establishing Business office (Permanent Establishment) in India consistent with applicable Tax Laws & it includes:-

1. Setting up of Branch Office, Liaison office, Representative Office
2. Registration with RBI & Follow up with all RBI requirements
3. Registration with ROC & Follow up with all ROC requirements     
4. Fulfillment of other requirements, like PAN, TAN, & registrations as applicable like VAT, Service Tax, IE code etc.   

Compliance of rules & regulations of Reserve Bank of India (R.B.I.)
 It includes dealing with DNBS Department for finance Companies & Companies having implication of FEMA.

We also have a very specialized experience in providing consultancy regarding the Foreign Direct Investment in the Companies.

Filing of returns on timely Basis, as required by R.B.I., as applicable to companies

We’ve prepared the ideal package of services for the company type listed above to help you start your business in India. In order to make the process go as smoothly as possible, we’ve prepared a limited list of necessary documents we’ll need so that we can prepare all the rest for you. If you have any questions about these please don’t hesitate to ask.

3. DOCUMENTS REQUIRED
1.    Foreign Company Registration Certificate & Articles of Incorporation
2.    Documents required for foreigner registration
Items client Provide   

• Passport
• Photograph
• Documents related to the company
  (business plan, information/pamphlets about the company, office lease agreement, etc)
• Other documents as needed on a case-by-case basis.

Items We Prepare

• Meeting minutes regarding establishing branch
• Registration Application.