Small and Medium Businesses (SMBs) seeking international market expansion can benefit greatly by availing PEO services. A PEO agency offers a quick, safe and relatively inexpensive way of hiring a dedicated workforce in a new geography without establishing a permanent local entity or infusing considerable amounts of capital. PEO services are best suited for companies that want to test the waters in a new geography before making any long term commitments or heavy investments.
Once a foreign company has identified the resources that would be required to expand to a new geography and the PEO services that it would like to avail of while doing so, it can kick start its business operations in 24 hours.
Foreign companies can set up a permanent entity in India in the form of a subsidiary. For all practical purposes, the subsidiary or the branch office will be treated as a local company in India and will have to comply with all local regulations and compliances.
All local regulations and compliances that are applicable to any Indian company are also applicable to foreign companies having a branch office or a subsidiary in India.
These are cost effective services pertaining to HR, payroll, insurance, benefits and risk management using which to foreign companies can expand their businesses internationally in a quick and relatively inexpensive way without creating a local permanent entity in the new geography.
A PEO offers cost effective services pertaining to HR, payroll, insurance, benefits and risk management to foreign companies seeking global business expansion. Some PEOs like Remunance go a step further to provide extended services like time and attendance, recruiting, employee training, and performance management.
A Professional Employer Organization (PEO) is an excellent starting point for small, medium and growing businesses seeking international market expansion to venture into a new geography.
By definition, an International PEO is a company that acts as a legal employer on behalf of a foreign company for its employee in another country while the employee continues to work for the foreign company. The PEO agency takes care of cost-effective services for HR, payroll, benefits, and risk management. Some agencies like Remunance go a step further to provide extended services like time and attendance, recruiting, employee training, and performance management.
Yes. Anyone can start a company in India, by complying with the provisions of the Companies Act and getting the approval from the Reserve Bank of India, as necessary.
A company outside India can form a wholly owned (100%) subsidiary in India. There has to be one local Indian Resident Director.
Foreign Companies can set up a company in India as its subsidiary.
For all practical purposes, the branch will be treated as local company and will have to comply with all the local laws and formalities.
All local laws will be applicable to foreign companies having subsidiary/ offices in India.
For any company other than ‘Non-Banking Financial Company’ a minimum amount of INR 1 lakh in the form of share capital is required.
For setting up a subsidiary in India, you will need:
Minimum 2 directors, out of which needs to be an Indian resident (all directors will need Director Identification Number and Digital Signature).
Finalise place of business as a registered office.
Finalise 3 name options with justifications.
Decide main objective, i.e. the area of business/focus activity of business of the company
Holding company will be required to sign the incorporation documents in its own country and there has to be apostille for the same.
Yes. Mere setting up of a company (other than NBFC or negative list) is a straightforward process and not at all time consuming, if you have someone as trustworthy as us as your partner.
Based on the area of work/ activities and approvals required, the minimum period will be 4 weeks is required. It may take upto maximum 24 weeks.
Winding up of a private limited company is a complex process and takes a long time, amounting to a year or two. Clearance from various government departments is also mandatory .
Yes, any company can have its offices in any part of India by complying all the local rules as applicable.
Reserve Bank of India is the apex bank of India. All foreign Investments are subjected to RBI’s auto/ specific approvals.
Employee related laws - provident fund, professional tax, employee state Insurance, labour welfare, salary TDS, minimum wages, bonus etc.
Other commercial laws - Companies’ Act, FEMA, Income Tax, GST.
Indian subsidiary/ office of a foreign company operating in India will be subjected to statutory audit under Companies Act&Income Tax Act, GST Audit, and Transfer Pricing Audit.