Now that we are done with continual obligations as well, it’s time that we list all the various advantages one can enjoy if they plan to move ahead with foreign Company Formation in India.
As you can make out from the heading itself this article you’ll be reading below is the continuation of the one we did last time, in short in this particular part we’ll help you with the details we were unable to cover in the first part.
We have already covered all the various facts which can make us understand what this term ‘foreign company’ means, not only this we have also covered all the various initial obligation one has to go through if they are planning to get a foreign company registration India. Thence its time that we move ahead and talk about few continual obligations such organization would be facing ahead. According what has been mentioned in various discussions if a foreign company undergoes any changes such as charter, status or memorandum they have to submit those details with in the time period of thirty days. Furthermore according to section 594 a foreign company should maintain three copies of books of accounts of both its India and world business.
Stepping forward when someone plans to move ahead with foreign company registration procedure, then according to section 595 of company’s act1956 they are obligated to conspicuously exhibit outside every office were they carries their business in India. Not only this they should also mention company name and country of its incorporation in simple English as well as in local language of that area.
Now that we are done with continual obligations as well, it’s time that we list all the various advantages one can enjoy if they plan to move ahead with foreign Company Formation in India. Frankly there are two major advantages one can enjoy, one they are provided with cheap labour.
As we all know population in India is increasing at a very high rate, but that doesn’t mean there is any lack of skilled labour, rather we can say that this country is very much capable of providing cheap skilled labours for compilation of any task you are planning for. Thence it’s a plus point for outer companies to come up with their branch offices in this country, as they can get same work completed by paying much lesser to their employees.
Second advantage which is there in our list talks about profit, profit these foreign companies can earn from an unknown country like India.
Chartered accountancy services in India.
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Indian Chartered Accountant firm registered with Institute of Chartered Accountants of India (ICAI) and Public Company Accounting Oversight Board (PCAOB), United States of America.
