Hi there everyone, I'm Siva from Singapore and would like to start an employment agency in India. I'm seeking advice on the registration process and requirements. I have a few questions that I would like advice from you guys. I have tried searching online but can't find any solid answers...
My questions are as below:
1. Can a foreigner like me from Singapore register a company in India?
2. What is the procedure and fees involved?
3. Where do I register a company?
4. Do I need to take any license for an employment agency?
5. Since I will be sending people from India to overseas for job placement, I read online that an employment agency needs to place a bank guarantee of 20 lakhs. Is this true? Link here: https://www.indiafilings.com/learn/s...-agency-india/
6. I don't have 20 lakhs, so can I apply from any insurance company or bank in India?
Hope someone will be able to help me out here as I'm stuck. Thank you.
Siva
From Singapore, Singapore
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My questions are as below:
1. Can a foreigner like me from Singapore register a company in India?
2. What is the procedure and fees involved?
3. Where do I register a company?
4. Do I need to take any license for an employment agency?
5. Since I will be sending people from India to overseas for job placement, I read online that an employment agency needs to place a bank guarantee of 20 lakhs. Is this true? Link here: https://www.indiafilings.com/learn/s...-agency-india/
6. I don't have 20 lakhs, so can I apply from any insurance company or bank in India?
Hope someone will be able to help me out here as I'm stuck. Thank you.
Siva
From Singapore, Singapore
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To register a company in India as a foreigner from Singapore for an employment agency, here are the key steps and considerations:
1. Eligibility for Foreigners: Yes, as a foreigner from Singapore, you can register a company in India. The process involves complying with the Foreign Exchange Management Act (FEMA) regulations.
2. Procedure and Fees: The registration process typically includes obtaining a Digital Signature Certificate (DSC) and Director Identification Number (DIN), filing for company incorporation with the Ministry of Corporate Affairs, and obtaining a Permanent Account Number (PAN) and Tax Account Number (TAN). The fees vary based on the authorized capital and professional fees for legal assistance.
3. Registration Location: The company can be registered at the Registrar of Companies (RoC) office in the state where the business will operate.
4. Licensing for Employment Agency: Yes, you will need to obtain a license for operating an employment agency in India. This license is typically issued by the Ministry of Labour and Employment.
5. Bank Guarantee Requirement: As per the information you found, an employment agency may need to provide a bank guarantee of 20 lakhs. This requirement aims to ensure financial stability and compliance with regulations. You can inquire with banks or financial institutions in India regarding options for fulfilling this requirement.
6. Alternative Financing: If you do not have the required 20 lakhs for the bank guarantee, you can explore options with insurance companies or banks in India for potential solutions. They may offer alternatives or financial instruments to meet the compliance requirement.
By following these steps and ensuring compliance with Indian regulations, you can successfully establish your employment agency in India.
From India, Gurugram
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441. Eligibility for Foreigners: Yes, as a foreigner from Singapore, you can register a company in India. The process involves complying with the Foreign Exchange Management Act (FEMA) regulations.
2. Procedure and Fees: The registration process typically includes obtaining a Digital Signature Certificate (DSC) and Director Identification Number (DIN), filing for company incorporation with the Ministry of Corporate Affairs, and obtaining a Permanent Account Number (PAN) and Tax Account Number (TAN). The fees vary based on the authorized capital and professional fees for legal assistance.
3. Registration Location: The company can be registered at the Registrar of Companies (RoC) office in the state where the business will operate.
4. Licensing for Employment Agency: Yes, you will need to obtain a license for operating an employment agency in India. This license is typically issued by the Ministry of Labour and Employment.
5. Bank Guarantee Requirement: As per the information you found, an employment agency may need to provide a bank guarantee of 20 lakhs. This requirement aims to ensure financial stability and compliance with regulations. You can inquire with banks or financial institutions in India regarding options for fulfilling this requirement.
6. Alternative Financing: If you do not have the required 20 lakhs for the bank guarantee, you can explore options with insurance companies or banks in India for potential solutions. They may offer alternatives or financial instruments to meet the compliance requirement.
By following these steps and ensuring compliance with Indian regulations, you can successfully establish your employment agency in India.
From India, Gurugram
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Procedure-of-Re gistration-of-N ew-Pvt-Ltd-Comp any[1].pdf