setting up of operations in bangalore >> process of setting up operations


 
 


   
 

Process of setting up operations
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Setting up operations in Bangalore is comparatively hassle-free if properly planned in advance.
The broad regulatory process involves:
  1. Obtaining the approval of the name of the proposed company from the Registrar of Companies
  2. Incorporating the company with the Registrar of Companies
  3. Obtaining the Importer-Exporter code
  4. Obtaining registration with the Software Technology parks of India (STPI) in case of IT and ITeS industries OR registration with the Cochin Special Economic Zone (CSEZ) for manufacturing industries, intending to undertake 100% exports
  5. Registration with Customs, Excise and sales-tax authorities
  6. Registration with income-tax authorities for corporate tax and withholding tax
  7. Securing local registrations under Profession tax and commercial establishment laws
  8. Registration with Provident Fund authorities and labour laws, if applicable

Some of the above processes need to be carried out sequentially while others could be carried out  in parallel.  It generally takes about 14-16 weeks to complete most of the setting up process. 

Besides the above, on an ongoing basis, the business would require to plan for its payroll, accounting, MIS and budgeting, auditing, withholding taxes, transfer pricing documentation, secretarial compliance, STPI/ CEPZ-related compliances and other compliances.
 
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