| 10:52 am on Feb 24, 2006 (gmt 0)|
What type of company you are going to start in India?
| 2:54 pm on Feb 28, 2006 (gmt 0)|
why it is india? what reason? Cheap IT labour or others?
| 6:10 pm on Feb 28, 2006 (gmt 0)|
- We are in consulting Non-IT services.
- We picked India because 50% of employees are Indians moved to US from India.
Does anybody on this board has any idea/experience how to go about it?
| 2:36 pm on Mar 1, 2006 (gmt 0)|
Its quite easy. U need to register a company though if you want to transfer money officially in any foreign currency to the branch office, since transfer of money by foreigners to any entity in India is restricted. A company is OK; else you would need to go through channels such as Western Union whereby the money would have to be transferred to an individual. Any money transfer beyond US$ 5000 to an individual has to be reported to the Government (to prevent using India as a conduit for money laundering).
Most equipment is locally available and quite cheap. Communications facilities (broadband) are available in most large cities and very inexpensive.
Establishing a company takes about a month or so and should be done thru a local Chartered Accountant (Financial Advisor). The equity outlay for setting up a company can be as low as US$ 2500/- + fees for the Financial Advisor, etc.
| 10:02 pm on Mar 1, 2006 (gmt 0)|
Could you please break up $2500?
I found out that I need to register with ROC (registry of Companies) if the office space in not in EPZ. Also with STPI to get export/import exemptions.
Any info that you have on this topic please pass it on..
| 10:52 am on Mar 9, 2006 (gmt 0)|
Visit National Association of Software & Service Companies [nasscom.org], the premier trade body and the chamber of commerce of the IT software and services industry in India.
Here you will find all the info u need about the opening the office in India.
[edited by: bill at 12:14 am (utc) on Mar. 10, 2006]
[edit reason] fixed link [/edit]
| 10:11 pm on Mar 9, 2006 (gmt 0)|
Thanks RajRaj. I found the www.NASSCOM.org site very useful.
More later guys...