Launch Your Start Up
Legal Entity (Foreign Subsidiary) Registration in India
Are you planning to grow your business beyond boundaries? Planning to start your legal entity in India? Our experts can help you with this process for hassle-free incorporation, no matter what your requirements may be. Few major things that you will need to even to start are:
→ Choosing the Right Form of Legal Entity to Start With
→ Resident Indian Director
→ Registered Office Address in India
→ Authorised Representative for various Tax Registrations & Licenses in India
→ Professional Guidance through out the process
At Witcorp we can proudly say that we have helped 100’s of Legal Entities launched in India and have been guiding them to success throughout from all over the globe. Let’s get into more details so that you can be the next one
About This Plan
Get your legal entity/company registered in India in the fastest possible manner.
Timeline
It usually takes 7 to 10 working days.
Services Covered
- Pre Incorporation Advisory and Consultation for Choosing right form of Legal Entity.
- Incorporation of Legal Entity in India.
- Post Incorporation Support
- Assistance in Bank Account Opening
- Resident Director Services
- Registered Office Address
- Support in Operations and Compliances
Who Should Buy
- Businesses or Individuals aiming to work globally or with reputed clients in India
How It’s Done
- DSC Application
- Name approval form filing
- Preparation of Incorporation Documents
- Getting those docs signed by the respective stakeholders
- Filing of e-Forms with ROC
- Receipt of Incorporation Certificate with PAN, TAN, GST, EPF, ESI & Bank Account.
Documents Required
- Name, Contact Number and Email Id of all the Stakeholders.
- Apostiled ID & Address Proof of Foreign/NRI Stakeholder.
- Latest Month Personal Bank Statement of the Stakeholders.
- Few Proposed Business Names along with Objects.
- Latest Electricity Bill/Landline Bill of Registered Office.
- Rent Agreement from Landlord. (If Rented/Leased)
- Brief description of main business activities of the proposed Company.
- Shareholding Ratio, Authorised & Paid Up Share Capital of the Company.
Requisites for Legal Entity Registration in India:
Resident Indian Director
A Resident Indian Director is an essential requirement for establishing a legal entity in India in accordance with current regulations. If you don't have one, don't worry – we have a solution for you. Our services include the provision of a Qualified Resident Indian Director for both the incorporation process and potential management of your operations after the entity is established.
Registered Address in India
Having a Registered Address for your legal entity in India at a Reputed Place is a fundamental requirement for its legal formation. To expedite your incorporation process smoothly, we offer the option of a Virtual Address, ensuring a seamless experience without any obstacles at an Additional Cost. Virtual Address shall be valid for Incorporation of legal entity as well as for Tax Licenses & Registrations, if any required.
Chartered Accountant
In India, Chartered Accountants (C.A.) play a role similar to that of Certified Public Accountants (C.P.A.s) in your country. They hold legal authorization from the Government of India to authenticate, sign documents and forms, facilitating the seamless establishment of your legal entity. Beyond the initial incorporation, their assistance remains invaluable. Regular collaboration with C.A.s is essential for tasks such as tax filing and annual financial statement audits in alignment with India's regulatory norms and requirements. Their expertise ensures a hassle-free process and adherence to legal obligations throughout your entity's journey.
Professional Guidance
Embarking on the journey of establishing your legal entity in India is just the beginning. Throughout this process, numerous critical decisions will demand professional consultation and guidance. These encompass selecting the appropriate legal entity structure, identifying the ideal city/state for your entity's location, strategising optimal tax planning, and a myriad of other considerations. As a top-tier financial consulting firm in India, we stand ready to provide comprehensive coverage and support, ensuring your venture's success at every step.
Witcorp is a one stop solution for all your Financial & Taxation Requirements Globally, therefore we shall provide you with everything which may be needed to launch your legal entity in India in a hassle free manner. Let’s schedule a virtual meet to discuss this through and get you started without wasting anymore time because “Time is Money”
Procedure for Foreign Subsidiary Company Registration in India:
Step 1: Selecting the Type of Legal Entity to Incorporate
According to FEMA guidelines, Foreign Direct Investment (FDI) is not allowed in the case of Though investment in LLP’s is allowed, it requires prior approval of the RBI. Hence, the easiest and Fastest Way to incorporate subsidiary of foreign company in India by NRI’s and Foreign Nationals/Entities is through the incorporation of a Private Limited Company.
Step 2: Minimum Requirements to Incorporate a Legal Entity in India
Directors: Minimum two directors are required to incorporate a Private Company in India. Both should be individuals and at-least one of whom should be a resident of India. (A resident of India is a person who has stayed in India for at-least 182 days in the previous year).
Shareholders: Companies Act, 2013 requires that a Private Limited Company have a minimum of two shareholders. There is no condition for residential status of shareholders. Shareholders can be either individuals or entities or a combination of both.
Step 3: Name Approval for Proposed Legal Entity
Selecting a unique and acceptable name for the proposed Company is one of the important steps in the whole Incorporation process. The name should be in consonance with the Object of the Company and should not be identical to existing entities or Undesirable by Law. For Name Approval we need to file a form called RUN (Reserve Unique Name) for incorporating subsidiary of foreign company in India. Check out these Name Guidelines
Step 4: Apostiling & Notary of Documents of Foreign/NRI Stakeholder
Apostilisation & Notarising of the documents of Foreign National is a must for verifying them as per International Standards which makes them acceptable in any foreign country including India to be legally acceptable. In easy language you need to visit Indian Embassy in your country with Self Attested Photo Copy of your Identity and Address Proof as required for Incorporation along with Original to get the signed and stamped by the Official in your physical presence. This process is now online as well and can be done through Notary Agents virtually.
Along with Foreign National’s Address & ID Proof, few documents such as Memorandum of Association, Articles of Association, INC 9, DIR 2 etc shall be prepared by us which also has to be Apostiled, in case the Foreign National is not visiting India on Business Visa for Incorporating the legal entity.
Check Out Rules & Guidelines for Apostiling & Notarisation
Step 5: Applying for Digital Signature Token (DSC’s)
The next step towards incorporating legal entity in India is applying for the DSC (Digital Signature Certificate) of the Directors. The primary documents required for obtaining the DIN and DSC are as under:
For Foreign National:
- Passport Copy
- Business Visa
- Utility Bill (Bank Copy, Driving License, Electricity Bill)
- Passport size Photograph
- Phone Number & Email Address
– If their passport or Visa be in any other language other than english, than in that case it must be transcripted and english; that transcripted copy along with the original must also be apostilled by the Indian Embassy in their country (If they are not in India).
– All the documents for foreign citizens should be apostilled by the Indian Embassy in their country (If they are not in India).
– All the documents for foreign citizens should be apostilled by their own country’s Embassy in India (If they are in India).
Check Out DSC Application & Verification Steps
Step 6: Application for Incorporation
This is the most vital step in the Incorporation of Legal Entity in India. It requires filing of the Memorandum and Articles of Association of the Company digitally along with various other documents duly executed by the proposed directors and shareholders.
List of Incorporation documents to be executed:
Subscriber sheet of Articles of Association
Subscriber sheet of Memorandum of Association
Declaration by Director in form DIR 2
Declaration of Director in Form INC 9
Generally, the incorporation documents are required to be self-attested by Indian Nationals. However, in case of Foreign Nationals, the process is as under for Incorporation:
In the documents are signed outside India, then the same have to be notarised by a Public notary of the residence country and consularized or apostiled by the competent authority, as the case may be. If the documents are signed in India, then copy of Business Visa and stamped passport, proving his/her presence in India at the time of signing is required.
If the subscriber is a foreign entity, then the Incorporation documents should be signed by the representative of the foreign entity. An Authorisation Letter duly stating the name of the Authorized Person and the number of shares subscribed should be notarised, consularized or apostiled, as the case may be in the home country of the subscriber company. Once the Incorporation application is approved, the Registrar would issue a Certificate with a Corporate Identification Number (CIN). The PAN and TAN of the Company would also be allotted simultaneously.
Step 7: Mandatory Post Incorporation Compliances
Once the legal entity is incorporated there are list of mandatory compliances to be done on immediate basis:
- Adopting Rubber Stamp, letter heads, Stamps, Name Board, Sign Board, minutes sheets, Binders etc. and affix Board outside the Registered office as per Sec- 12(3)(c).
- Opening of Current Account for the Legal Entity in India
- Receipt of Share Subscription Amount
- Submission of ‘Commencement of Business Form’ with RBI/ MCA in Form INC 20A with MCA
- Appointment of Auditor and related filling of documents with MCA
- Creation of “Entity User” and “Business User” with RBI
- Allotment of Shares to Subscriber and Issue of Share Certificates
- Facilitate payment of relevant stamp duty for issuance of share certificate
- Issuance of Company Secretary Certificate under FEMA
- Submission of Form FCGPR with RBI and related formalities like FIRC issuance, etc
Additional Compliances for being a Foreign Entity
A two-stage reporting procedure is to be followed when a company is raising funds from a foreign investor:
On receipt of funds: The Company has to provide details in an “Advance Reporting Form” to the RBI within 30 days of receiving funds from foreign investor(s).
The company has to issue shares within 180 days from the date of receiving funds.
On allotment of shares: The company has to report in specified form (FC-GPR) to the RBI, within 30 days from the date of issue of shares along with:
– A Certificate from the Company Secretary certifying that the company has complied with the procedure for issue of shares as laid down under the Foreign Direct Investment (FDI) Scheme, and,
– A Certificate from a Chartered Accountant indicating the manner of arriving at the price of the shares issued to the foreign investors. Apart from the above, Annual return on Foreign Liabilities and Assets is required to be submitted reporting all the investments received during the year.
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What are the Foreign Company Compliance in India?
Foreign Subsidiary Company Registered in India are required to maintain various additional compliance under the Companies Act, 2013.
Form FC-1
Foreign Subsidiary Companies registered in India are required to file Form FC-1 within a period of thirty days of the establishment of its place of business in India. The application must be supported with an attested copy of approval from the Reserve Bank of India under the terms of Foreign Exchange Management Act or Regulations, and too from other regulators, if any, sanction is necessary.
Financial Statements
All foreign companies registered in India are required to organise financial statement of its Indian business operations in an agreement with Schedule III of the Companies Act, 2013. Thus foreign companies are required to furnish the following information/statements together with the financial statements of the company to be filed with the Registrar of Companies:
Statement of Associated Party Transaction
Statement of transfer of funds (including dividends if any) which shall, in the relation of any fund transfer between the place of business of the foreign company in India and any other related party of the foreign company
Statement of repatriation of profits
The documents that are referred to above in this rule must be delivered to the Registrar of Companies within a period of six months from the end of the financial year of the foreign company.
Audit of Accounts of Foreign Company
All foreign companies must get its accounts, pertaining to the Indian business operations organised in agreement with the necessities of clause (a) of sub-section (1) of section 381 and rule 4 and audited by a practicing Chartered Accountant in India.
Form FC-3
All foreign companies are required to file with the Registrar of Companies, Form FC-3 detailing the list of places of business of the foreign company along with the financial statements of the company.
Annual Returns
The foreign subsidiaries company registered in India must prepare and file the annual return of the company in Form FC-4 within a period of sixty days from the final day of its financial year. Any document which should be delivered from a foreign company can be delivered to the Registrar of Companies with jurisdiction over New Delhi.
Authentication of translated documents
All foreign subsidiary companies registered in India must get its accounts, pertaining to the Indian business operations organised in agreement with the necessities of clause (a) of sub-section (1) of section 381 and rule 4 and audited by a practicing Chartered Accountant in India.
F.A.Q.
Q. How many directors are required to register a Foreign Subsidiary company?
Minimum of 2 directors are required to register a private limited company. Out of which one director who has stayed in India for total period of not less than 182 days in the previous calendar year (Indian resident).
Q. How long will it takes for the entire registration process to complete?
It depends on the documents provided by you and the Registrar of Companies approval process. It normally takes about 7 to 10 working days.
Q. Should there be a registered office address in India?
In order to register the company, you need to provide us with a local address proof i.e. Proper electricity Bill where the company is proposed to be registered. We would also need a Valid rent agreement or No Objection Letter from the owner of the premise.
Q. Will i get a legal representative also to run and manage that Foreign Subsidiary company?
Absolutely, you will have your representative of choice, who will act as a representative of yours.
Q. Who can be the promoter/shareholder of the wholly owned subsidiary?
There must be a minimum of 2 shareholders to incorporate the company.
Q. Do I have to submit physical documents?
Yes. You can either visit our office during working hours or send the documents via courier to our office.
Q. Will you also help in regulatory compliance?
Yes, Team Witcorp will also assist you with accounting, tax filing and regulatory compliance. The fee for these services depends on the requirements and is on case to case basis.
Q. Can you arrange some sort of address to register a Foreign Subsidiary company?
Yes, of course! At Witcorp we have fully functional Plug & Play Co working office located in Heart of Delhi. Most of our clients boast of a Multi City presence on the basis of Our Virtual office. Here you will get a dedicated receptionist, who will answer to every call that you will get, will receive the mails and parcels from banks and other agencies. will arrange a board room and a conference room , if you or any of the executive plan to drop by sometime.
Resident Director
In accordance with the Companies Act of 2013, there are no restrictions on foreign individuals serving as directors in Indian companies. Whether the company is public, unlisted, or private, foreign nationals and non-resident Indians living outside of India are eligible to hold positions as executive or non-executive/independent directors. The definition of a “director” as per section 2(34) of the Companies Act 2013 pertains to an individual appointed to a company’s board.
Foreign individuals and non-resident Indians can assume directorship roles in Indian companies by adhering to the Act in conjunction with the Companies (Appointment and Qualifications of Directors) Rules of 2014. They can occupy various directorial positions, including Women Director, Independent Director, Small Shareholders Director, Additional Director, Alternative Director, and Nominee Director.
Additionally, foreign nationals and non-resident Indians may serve as Whole Time Directors (“WTD”) or Managing Directors (“MD”), provided they meet the requirements outlined in Part 1 of Schedule V of the Companies Act, 2013. This section defines the qualifications for appointment as a Managing or Whole Time Director or Manager without the need for Central Government approval. Among the conditions outlined in Part 1 of Schedule V is the residency requirement, stating that individuals appointed as whole-time directors or managing directors must be residents of India.
Appointing Resident Indian Director in Company
At Witcorp, we specialize in offering comprehensive Resident Director India services tailored to our international clients. Our all-inclusive package is designed to facilitate seamless entry into the Indian market and includes a range of essential services:
- **India Company Registration:** We assist in the smooth and efficient registration of your company in India, ensuring compliance with all relevant regulations and requirements.
- **Local Company and Registered Address:** Our services include providing a local registered office address for your company, ensuring that you meet the necessary legal obligations.
- **Nominee Director Services:** We offer nominee director services, providing experienced professionals to serve as directors on behalf of your company in India, if required.
- **Free Trade Zone Company Formation:** We facilitate the formation of companies within free trade zones, helping you take advantage of the benefits offered by these special economic areas.
- **Work Visa Application:** Our team assists with the preparation and submission of work visa applications, streamlining the process for your employees relocating to India.
- **Corporate Bank Account Opening:** We guide you through the process of opening a corporate bank account in India, ensuring access to essential financial services for your business operations.
- **Financial License Applications:** For businesses requiring specific financial licenses to operate in India, we provide support in navigating the application process and meeting regulatory requirements.
If you’re considering expanding your business into India, you may encounter terms such as “Nominee Director India” and “India resident director.” These terms refer to individuals who can represent your company locally and fulfill legal requirements, ensuring smooth operations and compliance with Indian laws and regulations. Our team at Witcorp is here to provide expert guidance and support every step of the way, helping you navigate the complexities of doing business in India with confidence and ease.
What is a Resident Director & Why is it Needed?
– Pursuant to Section 149 (3) of India’s Companies Act of 2013, every Indian company is mandated to appoint a Resident Director. To qualify as a resident, the individual must reside within India for a minimum of 182 days annually.
– A nominee director, in this context, is a qualified individual appointed as the resident director for your Indian entity. The appointment of a nominee director by a company’s Board is sanctioned under Section 161(3) of the Companies Act.
– While the Ministry of Corporate Affairs exempted the resident director requirement for the fiscal years 2019 to 2021 due to challenges in securing a resident director during the COVID-19 pandemic, this exemption wasn’t extended to the fiscal year 2021 to 2022. Consequently, new entities incorporated from 2021 onward are still obligated to appoint a resident director to fulfill this role.
– Given the time-consuming and arduous task of finding a suitable candidate for the nominee director position in India, Witcorp offers a solution by providing a cost-effective nominee and resident director service in India. This ensures that all our clients can meet the minimum officeholder requirements in India without hassle.
“Our experience in managing the needs of international business and acting in the capacity of resident director for Foreign Subsidiaries of overseas entities is second to none.”
Establishing an Indian subsidiary requires appointing a resident director, a regulatory necessity. We offer comprehensive support for seamless operations in India. Our services include regulatory compliance, company incorporation, strategic guidance, and ongoing support. Partner with us for expert assistance in navigating the complexities of the Indian business landscape.
- Incorporation of Indian Entity, including managing the setup of Indian Tax Office.
- Oversee Banking requirements in the initial setup
- Provide appropriate indemnities to protect the resident director and ensure non-resident directors have complete control over the Indian operations
- Arrange for your Indian operations to have a substituted year-end in line with head office operations
- Implement financial control and systems to manage the accounting affairs of the Indian operations in line with the reporting
- requirements of your head office operationsProvide our expertise to manage the day-to-day accounting needs of the Indian operations
- Manage the ongoing financial reporting and tax compliance needs of the Indian operations to ensure the company’s affairs are accurate and lodged on time to the necessary regulatory bodies
- Provide consultative advice and support for the successful growth of the Indian operations
Under what conditions can an India company appoint a nominee director by the Companies Act?
There are certain conditions that must be met before the nominee director can be appointed. These are:
> The Appointment must comply with the conditions of any applicable legal contract the company is a part of, as well as applicable corporate laws in India.
> Parties who can appoint a director can be natural persons who possess the legal authority to do so, or a State or Central government in India.
> The nominee must represent the company or institutions’ best interests at all times.
> The appointment must comply with the clauses of the business’ Articles of Association, otherwise, the Articles of Association will need to first be amended to include provisions for the appointment of such a director.
Legal duties of the India nominee director
Section 116 of the Companies Act outlines duties and obligations for nominee directors, including:
– Acting in the company’s best interests and members’ welfare.
– Avoiding conflicts of interest.
– Executing duties with skill, care, and diligence.
– Overseeing compliance with regulations.
– Being personally liable to the company and nominator.
– Refraining from seeking undue advantages.
– Actively engaging in board matters.
– Adhering to the Articles of Association.
What will the Resident Director or Shareholder require before agreeing to act?
A nominee director typically requires the following from you:
- Overview of current and proposed company activities.
- Business plan, forecasts, and budgets.
- Confirmation of compliance with Indian laws (e.g., licensing, consumer, importation, tax laws).
- Evidence of financial standing to ensure solvency.
- Appointment of a local accountant and Tax Agent.
- Agreement to provide regular financial and operational reports, with direct access to local accountant and Tax Agent.
- Acceptance of their fees and charges for directorship.
- Agreement to indemnify the company and the nominee director for liabilities in India, ensuring avoidance of insolvency. This may involve you or the foreign parent company assuming responsibility for the Indian company’s debts and obligations.
We will only provide Resident Director Services on the following conditions:
To initiate the process, we require the following documentation from you:
1. Proof of identity and address of the beneficial owner, initially as scanned copies. Certified original copies must be sent via post within two weeks.
2. A reference letter on the Ultimate Beneficial Owner (UBO) from a bank, employer, accountant, or solicitor with a minimum of two years of acquaintance.
3. Reasons for necessitating a Nominee Director.
4. Nature of your business activities.
5. The company’s registered office must be with us.
6. Submission of relevant business conduct information; annual accounts must be prepared by us as the director will sign them.
7. If GST registered, GST returns must be handled by our accountant.
8. Notification is required if you intend to dissolve the company. We will terminate our services and cease acting as a director if the company is over a year old.
9. A Resident Shareholder safeguards the shareholder’s identity for security purposes. Our contracted Resident Shareholder will disclose essential information such as ID and passport numbers as needed.
Engaging a Resident Shareholder entails protecting your share rights via a Declaration of Trust, affirming your full ownership while the Resident Director represents you effectively.
Advantages of using Resident Director Service in India
Fulfilling residency requirements while reducing overhead costs:
– Appointing a representative director in India ensures compliance with local regulations and reduces overhead expenses, preventing additional costs during incorporation.
Expertise in local regulations:
– Our India representative directors possess knowledge of local regulations, including accounting and tax obligations, ensuring full compliance with legal requirements.
Bridging language barriers:
– Resident directors in India assist in navigating language barriers, translating documents to and from Hindi, facilitating smoother communication and paperwork procedures.
Legal obligation to act in company’s interest:
– Nominee directors are legally bound by the Companies Act 2013 to prioritize the company’s best interests, alleviating concerns about conflicts of interest.
Representation to banks and authorities:
– Our India representative directors represent you during interviews with local banks for opening corporate accounts, ensuring seamless banking procedures at no additional cost.
Minimal interference in company operations:
– Engaging resident director services enables compliance with residency requirements without undermining your authority. Nominee directors typically refrain from significant involvement in decision-making processes unless specifically requested.
Risks of appointing a Resident Director in India
- As with all undertakings, there are some risks involved in the appointing of nominee directors. The risk is namely that the individual, as one of the company’s directors, has the legal power to participate in the decision-making process and even veto certain decisions of the company, according to the Companies Act.
- However, as nominee directors are also bound by law under Section 166 of the 2013 Companies Act to always act in the company’ best interests instead of his or her own self-interest, you will not have to worry about him or her making decisions that threaten your company.
- In addition, before the appointment, Witcorp’s legal team will lay out strict terms in the Nominee Director Agreement we will draft, that will prohibit the nominated person from interfering significantly in the day-to-day running of your business. The nominee director will mostly take a passive role and act on your instructions, and he or she will not have access to your corporate bank account. This will ensure that you are able to maintain full control over your company at all times.
Risks undertaken by a Resident Director India under the 2013 Companies Act
The role of a representative director entails personal risks and legal responsibilities as outlined by the Companies Act:
1. **Equal Liability**: As per Section 166, both executive and non-executive directors share equal responsibilities and authorities under the law. Accordingly, nominee directors, as per Section 149(2), are liable if they were aware of offenses, mistakes, or negligent actions.
2. **Disqualification**: Section 167 of the Companies Act stipulates that nominee directors can face disqualification if they fail to fulfill legal duties or comply with regulations. This includes instances such as criminal offenses or non-attendance at board meetings.
3. **Representing Shareholder Interests**: Under the shareholder agreement, nominee directors are obligated to uphold and represent the interests and rights of the nominator, ensuring alignment with the shareholder’s objectives and expectations.
Other Foreign Company Services:
For any overseas company looking to establish an Indian subsidiary, we can provide a number of additional business registration and support services as required.
These services include the following (however additional services can be arranged on as needed basis):
- Establishment of a new Private/Public Limited Company
- Registration for GST (Goods and Services Tax)
- Opening of a business bank account
- Provision of a Registered Office Address in India
- Provision of a business address facility in India
- Related corporate secretarial services
For further information about our services including pricing please contact us.
Are you looking for Resident Director in India?
As per the provisions of sub section (3) of section 149 of companies Act, 2013, Every company shall have at least one director who has stayed in India for a total period of not less than one hundred and eighty-two (182) days in the previous calendar year. This Provision applies to all the companies w.e.f. 26th June, 2014. Wholly owned subsidiary Companies with only Foreign Directors are mainly impacted by this provision of companies Act, 2013.
Power and Duties of Nominee/Resident Director:
Resident/ Nominee Director shall have all the power and duties which are define for other Director of the company but subject to the approval of Board. He shall abide by all the provision for directors defines under Companies Act, 2013.
Penal Provisions
If a company contravenes this provision of companies act, 2013 then the company and every officer of company who is in default shall be punishable with fine which shall not be less than fifty thousand rupees but which may extend to five lakh rupees.
How Witcorp can help?
- We will appoint one of our team members as the Resident Director for your company.
- Resident Director appointee will neither be a corporate bank account signatory nor play a active role in our your business.
- Resident Director merely the resident director of the company in order to fulfill the local statutory requirement (law of land requirement).
- You will be solely responsible for daily business activities.
- You will sign a legal contract outlining the terms and conditions and limitations of the resident director’s appointment.
- You can ask our Resident Director to resign at any point of time.
- Resident Director will sign all the key corporate documents which are obligatory to be signed by the director to comply with the law of land.
For example: Annual return, Financial Statements and other key docs as may be required by law. - You must have a vigorous system to comply with the law of land. You may ask for our annual compliance and maintenance of statutory records & registers services.
- Our fees for resident director services will depend upon the level of risk in the business the same shall be provided upon request.
- Our client may also avail the service of shareholder as well as Annual Compliance Services
Virtual Address
GST and Business Registration, Mail Handling, Department Verification, Reputed Address & Many More Starting INR 1,000/-
Are you planning to set up a new office? Or in need to set up another office in a new state? But the ever-increasing cost of office set-up, as well as the high operational cost of office maintenance, is stopping you from doing so? Then don’t worry, you are with the best company, as Witcorp provides affordable and best ambience virtual office spaces in various parts of India. New Delhi is one of the many locations at which we provide office space for rent. With daily office room rentals and temporary office space contracts available, we are confident that we have your ideal office for rent at a business centre here in the capital.
Our expert team can provide a variety of choices, including a window or partition office, as well as dedicated private office suites. Business-grade Internet, ergonomic furnishings and staffed receptions are all included, while we also manage all of the office admin, including the utilities. Our approach offers a versatile alternative to office ownership while providing flexible space that can expand alongside your business. This Facility is available for Delhi, Gujarat, Himachal Pradesh, West Bengal, Uttar Pradesh, Karnataka & Haryana.
Book My Virtual Office Address Now!
Now, you have the freedom to choose your office across India. Witcorp Brings you an excellent Virtual office address concept. No, you can look plush and branded with office addresses at designated places, even if you don’t have one. Just fill-up the form, and our representative shall contact you shortly with the best of the deals. With us, you have an add on advantage of getting all your company matters and documentations done at our end in a hassle-free manner.
7 Signs that you need a Virtual Office:
- NO COMMUTE TIME
In last one and a half years We’ve found that two to three hours every day that used to be spent getting ready for work and traveling to the office is now spent working. Because of that, productivity has increased and Bottom line also increasing and in addition to that our employees are more focused.
- EMPLOYEES ARE EASILY MORE ACTIVE
Sitting around the desk can create a lots of health issues
3.FLEXIBILITY MEANS USING LESS VACATION DAYS
Want to have “donuts with dad” in your child’s third grade class? It’s not a big deal because you can make up the time later.
- ACCESS TO WORLDWIDE TALENT
Gain a customer in Hong Kong and need someone to be there once a week? That’s no problem if you have a virtual office.
- LESSER OVERHEAD
There’s no office lease, no utility payments, no hardware and none of the associated costs that come with having a brick-and-mortar space.
- SAVE MONEY ON TECH
By working remotely, employees can have technology they prefer, and they’re responsible for upgrading it when it’s convenient for them.
- PRODUCTIVITY INCREASES
Because you go from monitoring to establishing specific goals, you’ll see an increase in productivity almost immediately. If employees meet or exceed their goals, they keep their jobs. If they don’t, you’ll be able to weed them out. Letting employees work remotely should also decrease turnover because people are generally happier to be able to do their jobs and not have to deal with the drama that comes along with putting a bunch of people in an office together.
While the virtual office doesn’t work for every business—many companies need people together in one location to get work accomplished—in those businesses where technology truly allows you to work from anywhere, a virtual office offers a strong alternative to a traditional office environment.
Witcorp Virtual Address Partner Programme
For our Virtual Address Service, we are looking for new partners who can help us offer further business locations to our customers.
5 reasons why you should join the Witcorp Partner Network
- increased, global customer base
Provide digital virtual services with an easy to use, business & tax registration services to Customers from all over the globe. - growing revenue stream from day one
Profit from Witcorp’s highly-ranked international website and powerful marketing compaigns and start earning revenue as soon as the first registration is completed. - hassle free set up
no initial investment or complicated IT installation needed as our service is Virtual - free training & dedicated support team
of course we will train you and your team on how to manage the Program. Our Partner Support Team will gladly assist you with all questions concerning mail management and every day operations - maximize your team’s efficency on mailmanagement
thanks to our intuitive software, your team will be enabled to easily manage incoming mail and save precious time by following our guideline on storage and operations.
Office Space solutions designed for all your needs
Private Office Spaces
Innovate new concepts, create new products, solve new problems, get like-minded connections. Our Co-Working office space lets you bring out your entrepreneur with grace and style. We have aesthetically designed office space that corporates and businesses can utilise with all the essential amenities in place. You would make use of our fully furnished serviced office space that can be used by a team that ranges from 2 to 5. It’s an ideal office space for rent that can be utilised by businesses who want the whole window & interior office cabin at their convenience. Unique access cards provide our clients with the necessary safety and services, including recreational areas and breakout zones in addition to meeting rooms, conference rooms to break the monotony of any day.
Dedicated Desks
Dedicated Desks at Witcorp Co-Working are amenity-rich desk spaces for rent with premium hi-speed internet, dynamic working environment and other excellent complimentary services. Our dedicated desk plans are perfect for small businesses and startups that want to take their business to the next level. Our reliable desk service gives you 24*7 access to comfortable office space for rent. You can be your boss with a permanent desk at our co-working space. Complimentary services include two hours of meeting rooms usage, forty print-outs, unlimited access to tea/coffee, along with uninterrupted interaction at our community events.
Hot Desk
Based on a first-come, first-serve, hot desking at Witcorp, Co-working can be utilised by entrepreneurs, digital nomads and freelancers who need a short yet efficient office space to work from. Our co-working and office space have dynamic desk spaces designed for entrepreneurs & professionals to connect, collaborate and innovate new ideas that are needed. You get access to an open desk to work without hindrances. You can make use of excellent complimentary services that include unlimited printer use, no limit to tea/coffee & other beverages, meeting rooms whenever available, along uninterrupted interaction at our community events.
Virtual Address
Our Witcorp virtual office space provides a customisable range of services, including an office address in New Delhi. We have taken the virtual address concept to the next level by providing them at one of our office buildings in the region. Live receptions at these locations ensure that any physical enquiries concerning your organisation are met and referred directly to you, whilst any mail sent to your address can either be forwarded or collected in person. It’s used for taxation/government registration & we shall take care of communications from the department as and when applicable.
Mail Handling
We provide all Courier and Mail Handling services for a year.
Office Assistant
Office Assistant For Representation for 1 Year- For Your Company.
Bank Account
Bank Account Opening Verification Support With Name Plate On Wall- For GST / Business Registration cases only.
Address Usage
Address can be used on Visiting cards, Letterheads, Emailers, Websites, Google Listings and for all your business Communications For 1 Year.
Professional Address
Use of Professional Address for all your Business Communication- Emails, Web, Prints, Gst registration, Company Formation.
Customer Support
We provide full customer support for a year over E-mail or Phone.
Frequently Asked Questions:
What Is Virtual Office?
Virtual office is a services, that allows you to access to a professional business center without physically sit out at that business center. Further business registration like Company and GST registration can also be taken on virtual office address. Virtual office saves lots of cost to business owner as they can use the professional business address without actually owning it.
What Are The Benefits Of Using Virtual Office?
You will get an address for your business at the prime location in cost effective manner without incurring huge expenses on rent, security deposits or maintenance etc. like regular office.
Can I Take GST Registration On Virtual Office Address?
Yes, you can take the GST registration for your business on virtual office address. In fact lots of business owners whose main office is set up in one state but have operations in all over India are taking GST registration on virtual office address in other states across India.
What Documents Will Be Provided For GST Registration?
All the necessary documents required for GST registration like No Objection Certificate form landlord, rent agreement, latest electricity or utility bills will be provided.
Compliances for a Business Entity Registered in India
For a business, whatever be its mode or constitution has to adhere with certain guidelines and tax laws as applicable to sustain and develop in India. We shall be discussing this from very scratch, i.e Incorporation and Confusion regarding the type of business entity to start with.
Here the following topics will be covered:
- Choose Suitable Business Entity to start with
- Maintenance of Books of Accounts
- TDS Compliances
- GST Compliances
- HR & Payroll Compliances
- ROC-MCA Compliances
- Income Tax Compliances
- Audit & Assurance
Compliance is not an event, it’s a practice to be carried out round the clock, throughout the year & If you think Compliance is Costly, try Non-Compliance.
All in One Place
Change the way of Tracking your Compliance Status
Things are going global; we all must come up with ideas and efforts to compete with better players & in order to control your business with precision reports and data that can help you track, govern and run the show with accurate reports and stay a step ahead of your competitors in every aspect of your bookkeeping & compliance.
All in One Place
Change the way ofTracking your Compliance Status
Things are going global; we all must come up with ideas and efforts to compete with better players & in order to control your business with precision reports and data that can help you track, govern and run the show with accurate reports and stay a step ahead of your competitors in every aspect of your bookkeeping & compliance.
- 360 Degree Dashboard
Get a complete snapshot of your company’s compliance status, anytime. It’s easy to keep track of your performance now.
- Business Entity Management
Get a complete snapshot of your company’s compliance status, anytime. It’s easy to keep track of your performance now.
- Effortless Tracking
Gain absolute control over the compliance management through automated triggers & state of the art escalation mechanism.
- Realtime Analysis
What use is of a report which is not real time? get instant reports and be in control of your business with detailed analysis everytime.
Avail All Corporate Services under One Roof
Business Compliance
Comply with all your Tax & Business Filings.
Licenses for Business
Get all the applicable licenses for your business.
Virtual Offices
Have a reputed business address for your business.
Secretarial Filings
Comply with all your MCA- ROC Corporate Filings.
Corporate Re-Structure
Comply with all your Restructuring Filings.
Closure of Business
Comply with all your Closure requirements legally.
Income Tax
Comply with all your Income Tax Filings.
Goods & Service Tax
Comply with all your GST Compliances & Filings.
Legal Services
Comply with all your Legal Support & Services.
Payroll Management
Comply with all your Payroll Filings.
Conversion of Company
Convert your company structure into another form.
Digital Services
Comply with all your Legal Support & Services.
Valuation of Business
Get Valuation for all your needs done.
Foreign & FDI Filings
Comply to all your Foreign Transactions
Intellectual Property Rights
Secure your Trade Name or Logo from Infringement
Maintenance of Books of Accounts Under Income Tax Act
Books of accounts including vouchers and receipts are required to be maintained under different statutory laws – Income Tax Act, Companies Act 2013 and GST Act. Books to be maintained, retention period and compulsion requirements are different under all the 3 laws. While running a business, maintaining books of accounts is essential. The Tax Department needs them, the bank or your investor might ask for them. Outsource your book keeping function and let professionals manage your business financial reporting.
Under Income Tax Act
If the sale/turnover/gross receipts from the business or profession is more than Rs. 25,00,000 or the income from business or profession is more than Rs. 2,50,000 in any of the 3 preceding years, then books of accounts will be compulsorily maintained.
Following professions are covered under this provision –
- Legal
- Medical
- Engineering
- Architectural
- Accountancy
- Technical consultancy
- Interior decoration
- Authorised Representative (one who charges fees for representing someone before tribunal or any authority)
- Film artist (producer, editor, actor, director, music director, art director, dance director, cameraman, singer, lyricist, story writer, screenplay or dialogue writer and costume designers.
Under Companies Act
Every company has to maintain books of accounts, at the registered office or any office that board of directors may decide. If the company is maintaining books at an office other than the registered office, it has to intimate the same to RoC. The company can maintain the accounts electronically also.
Books of accounts to be maintained
- Cash flow statement
- Records of sales and purchases,
- Records of assets and liabilities
- Items of cost
- Deeds, vouchers, writing, documents, minutes, and registers whether in physical or electronic mode
Q.For how long should the books be maintained?
Books should be maintained for a period of 8 years from the end of the relevant financial year.