Setting up Business in Vibrant Gujarat & Incredible India

Setting up Business in Vibrant Gujarat & Incredible India

7th Vibrant Gujarat Summit, has well begun today on 11th January 2015 at Mahatma Mandir, Gandhinagar, Gujarat, India. At this time, it is imperative to know the key facts of Gujarat and various entry options available for setting up business in Gujarat.

Facts of Gujarat:

ü  Strategically located on the west coast of India, Gujarat is well connected to the major cities of the world by air and sea routes

ü  Ranked 1st in India for “Economic freedom among states” Economic freedom of the states of India 2013

ü  Excellent road and rail connectively – Bus Rapid Transit, Metro and other development projects in various urban centers

ü  FDI equity inflows – USD 9.5 billion outstanding investments USD 255.4 billion

ü  A strong Economy with the SDP rising at an average growth rate of 10.1% since 2005 to 2013, more than the national average

ü  37% of the ambitious Delhi Mumbai Industrial Corridor (DMIC) will pass through Gujarat

Are you interested to set up business in Gujarat? If yes, than the following entry options are available:

  1. Liaison Office
  2. Branch Office
  3. Local Indian Subsidiary Company
  4. Project Office
  5. Limited Liability Partnership

Selection of the option shall be done based on:

  1. Purpose of setting up business and activities to be carried out in India
  2. Nature of business and growth prospects in India
  3. Time Duration – short term or long term
  4. Investments required and source of funding
  5. Legal compliance
  6. Taxation aspects
  7. Repatriation of fund back to home country
  8. Working capital requirements
  9. Liability of foreign company

The company is advised to appoint the specialised consultant who can guide through each of these option and sail through the setting up process effectively and efficiently.

About Chintan Patel FCA, CPA(USA), Cert.IFRS(ICAI), CISA (USA), DISA, DIRM

CA Chintan Patel is a partner of Naresh J. Patel & Co. Chartered Accountants (www.nareshco.com). He is co-author of book on Ind AS published by Taxmann. He leads India and International Accounting including IFRS & US GAAP. He has over 14 years of experience including Implementation of IFRS/US GAAP/ Ind AS, working with public accounting, MNCs and industry organizations. He was editor of IFRS Newsletter published by Ind AS (IFRS) Implementation Committee of ICAI. He was a co-opted member of IFRS Committee of WIRC of the Institute of Chartered Accountants of India for 2010-11. He has been a speaker at more than 200 professional seminars, conferences and events in India and abroad. His articles published in professional journals.
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