PROI (Person Resident outside India)
“Person Resident outside India” is defined indirectly to mean a person who is not resident in India “Person resident in India” is a person residing in India for more than 182 days in the Preceding Financial Year. Preceding Financial Year means the financial year, which ended on the last 31st of March.
In other words it refers to a person who has come to or stays in India either for taking up employment, carrying on business or vocation in India or for any other purpose that would indicate his intention to stay in India for an uncertain period and if a person is unable to satisfy the above condition then he or she will be treated as “Person Resident outside India”.
1) Incorporation of an Indian Company through:
a) Joint Venture: – A joint venture is similar to a partnership, it exists when two or more entities form a single joint enterprise. Several companies and individuals enter into a contractual agreement and contribute capital to form the business.
b) Wholly Owned Subsidiary: – A Wholly Owned Subsidiary is a Company that is completely owned by another Company and the Company that owns the subsidiary is called the parent Company.
So, in order to cater the above, a gyst of services we provide are mentioned here below:
a) Company Secretarial Service
Corporate secretarial team deals with each business within its own context. We understand that some industries are highly regulated and it can be challenging to navigate the complex legal requirements of corporate compliance, Therefore every Company requires to maintain a global overview of these activities and controlling them to manage risk.
The setup of a company’s presence in India starts with its incorporation which involves everything ranging from strategy, execution, and compliance. This three-fold approach allows us to holistically undertake our company secretarial services with an off-the-textbook method to help foreign entrants in India develop a flexible yet robust business methodology, which carries room for scalability in the future.
b) Transaction Advisory
We undertake the following functions under the ambit of transaction advisory services:
- Due diligence throughout the year
- Business valuations
- Negotiation support for transactions
- Transaction and business structuring from tax, regulatory and funding perspectives
- Post-transaction compliance support
- Raising capital from Non-Banking Finance Companies
- Privately negotiated transactions
- Private placements and capital markets etc.
c) Legal Agreement
A Legal agreement is writing or document that records the meeting of the minds of the parties, an oral compact between two parties who join together for a common purpose intending to change their rights and duties.
For the successful completion of the transaction/ we shall assist you in the drafting of the Agreements whenever required. This is another important aspect of entering legally in the new market with all the studies done in advance.
d) Intellectual Property Rights (IPR)
A right that is had by a person or by a company to have exclusive rights to use its own plans, ideas, or other intangible assets without the worry of competition, at least for a specific period of time. These rights can include copyrights, patents, trademarks, and trade secrets.
We shall get your brand name registered under the IPR which will provide the business a better image, both at the beginning and during the continuance of the business.
If you have any query or need clarification in this regard please Contact