Corporate Services India

Transcription

1 Corporate Services India The One-Stop Solution For All Your Business Needs

2 Business Environment in India Located in south Asia with a population of over 1.2 billion, India is a pluralistic, multilingual, and multiethnic society. Over the past decade the Indian economy has witnessed a paradigm shift and is on a robust growth track with a diversified industrial base and a stable financial and services sector. The Indian economy today boasts of a burgeoning annual growth rate, deep capital markets and liberalized foreign direct investment (FDI) regime. India is host to several eminent global corporate giants that are leaders in their respective fields. According to UNCTAD s World Investment Prospects Survey , India is the third-most attractive destination for FDI in the world. Indian markets have significant potential and offer prospects of high profitability and a favorable regulatory regime for investors. The UN Report expects that foreign investments in India could increase by more than 20 per cent in The country s fundamentals are strong, supported by factors such as high savings and investment rates, a growing and young labor force, sharply rising adult literacy, rising per capita income, and talented human resources. 2

3 Our Services Corporate Secretarial Services Together with our partners, Luther Corporate Services has the competence and expertise necessary to comprehensively assist and advise our clients in all stages of the business lifecycle, namely, from the incorporation of an Indian business vehicle, through on-going support services such as bookkeeping, accounting, payroll and cash, fund & payment administration up to the dissolution of a company. Establishment of an Indian Company We provide fast and efficient market entry services in India including: Setting up Services Private Limited (Pvt. Ltd.) Public Limited (Ltd.) Project/ Branch / Liaison Office Limited Liability Partnerships (LLP) Advisory services on Type of entity to be established and the optimal corporate & tax structure Organisational Structures Share Capital/Directors Joint Ventures Mergers & Acquisitions Additional Approvals & Registrations FIPB Approvals for foreign investors Preparation of Memorandum and Articles of Association, and other constitutional documents Obtaining Directors Identification Number (DIN) and Digital Signature Certificate (DSC) Obtaining Permanent Account Number (PAN) and other domestic registrations such as Tax Account Number, CST and VAT and Service Tax Number (if required) Opening of corporate bank account, QA22C Account We provide a complete range of corporate services to both large and small companies in India. 1. Provision of personnel to assume statutory positions Company secretary Nominee director Nominee shareholder 2. General Services to ensure Statutory Compliance Capitalization of Funds Advice on best practice and corporate governance and compliance with the Companies Act Implementation of corporate governance and compliance procedures Setting up statutory books and registers and maintaining of updated secretarial records Custody of common seal, register of company, minutes of meetings. Preparing and lodging all prescribed forms and requisite documents with the Registrar of Company (RoC) Director s & Shareholder s duties Coordination & Liaison Work with Ministry of Corporate Affairs (MCA), Reserve Bank of India (RBI) and the Foreign Exchange Management Act (FEMA) Preparation of accounts and other annual compliances including lodging with ROC Preparation of notices, minutes, and other documents pertaining to directors and shareholders meetings (Annual General Meeting and Extraordinary General Meeting) Managing changes: Change of name Change in constitutional documents Change in capital structure (transfer of shares, new issuance of shares) Change of shareholders Change of directors, managers, auditors and company secretaries Change of registered office address Provision of registered office/correspondence address Applications for Employment Visa, Student Visa, Business Visa, OCI (Overseas Citizenship of India) and POI (Person of Indian Origin) Opening of bank accounts and managing changes to bank signatories 3

4 Accounting & Financial Reporting Luther Corporate Services and our partners are able to assist you in time-consuming accounting and administrative matters, which every company needs to take care of. Our Accounting & Bookkeeping Services and Payroll Processing Services are ideal for sustainable growth of business organization as the impact of our services include substantial cost saving. This frees our clients to be able to concentrate on growing and developing their businesses. 1. Bookkeeping Setting up chart of accounts as per Indian GAAP Recording of all payments and funds received Preparation of monthly bank reconciliation statements Recording of all sales and trade debtors Recording of all purchase and trade creditors Recording of prepayments and accruals Recording of all assets purchased and related depreciation Recording of all Sales Tax (VAT) and Service Tax on the taxable purchases/supplies Extraction of monthly trial balances and general ledger 2. Management Reports Compiling of profit and loss account and balance sheet Generating aged financial analysis of debtors and creditors Preparation and submission of quarterly Sales Tax and Service Tax returns Business advisory services such as accounting reports and preparation of business plans Budget preparation and comparison and analysis of key components of financial performance 3. Statutory Accounting Preparation of financial statements under Indian GAAP Preparation of consolidated financial statements which includes the consolidated cash flow statement, consolidated statement of changes in equity and notes to the financial statements in compliance with the International Financial Reporting Standards (IFRS) Review and computation of tax and deferred tax provisions for inclusion into financial statements Re-measuring accounts to functional currency Completing consolidation and head office reporting packages 4. Individual and Corporate Tax Compliance Our corporate tax compliance services include: Advance Tax Computation, Annual Corporate Tax Returns, Sales tax and Services tax registration and filing with Services Tax authorities Calculation and filing of VAT / CST Withholding Tax and TDS for Indian and Foreign Transactions Preparation and filing of monthly / quarterly returns Preparation and filing of annual corporate tax returns with Income Tax authorities Preparation and filing of individual tax statement with Income Tax authorities Advising on Double Taxation Avoidance Agreements (DTAA s) Dealing with stamp duty payments and Stamp duty relief 4

5 Human Resources & Payroll Administration Cash, Fund & Payment Administration At Luther Corporate Services, we, together with our partners, offer full outsourcing services for the management of payroll, personnel data and employee benefits. We are able to provide tailor-made solutions to meet our clients specific requirements. HR Policies & Procedures Salary structuring for domestic & foreign employees Pay invoices and employee expense claims Issue payment vouchers and prepare cheques Mailing of signed cheques to payees or remittance of funds by telegraphic transfer Computation of net salary and Employees Provident Fund Providing payroll reports & financial journals Handling payment of net salary via our client trust account, including deposit of net pay into employee s bank accounts and issuance of confidential pay slips Optimal Taxation Structuring Form 16/ Tax DeductionComputation of estimated income tax to be withheld (TDS) and payment of the monthly TDS with the government treasury Preparing Form 16 and Form 24Q regarding TDS Administration of share option schemes Social Security Compliances Provident Fund Employees State Insurance Professional Tax Luther Corporate Services supports a diverse portfolio of clients ranging from small and medium-sized enterprises to multinational corporations with cash, fund and payment administration services. For smaller businesses where segregation of duties is an issue, our service functions as an internal control in regard to company s spendings. Administration of cash funds deposited with us or in client s own bank accounts Cash forecasting and processing of accounts receivables Account signatory services to arrange settlement of company obligations to suppliers, payroll, employee expense reimbursements and other fund transfers Opening of bank accounts and managing changes to bank signatories General administration, e. g. post forwarding Dissolution / Deregistration We offer expertise in the dissolution of entities and provide advice on the most suitable mode of deregistration. These services include: Preparation and filing of all necessary documents for the voluntary winding-up of an entity Arranging dormancy of legal entities and cessation of business Change of ownership of companies Handling deregistration/striking-off of entities 5

6 Luther Corporate Services Gurgaon, India Luther Corporate Services Pvt Ltd. #023, German Centre, Building No. 9, Tower B, Level 14, DLF Cyber City Phase III, Gurgaon , India Phone , Fax Your contacts: Dr. Claus Trenner, LL.M. (NUS Singapore), Sonam Rohella, LL.M. (Singapore),