NewAge Products Inc (NAP) is one of the leading company based out of Canada engaged in the business of premium garage cabinets, outdoor kitchen, kitchen appliances and customizable home bar storage. The company wanted to set up an office in India for designing and back office operations. They approached us to suggest a suitable structure and maintain their compliances.

As setting up in India involves various process viz. verification of permissibility of business activity under foreign exchange laws (FEMA), transfer pricing guidelines and taxation implications, our team from various fields put their heads together and devised a plan for the client.

As NAP was entering Indian market for the first time, we suggested them to set up a liaison office (LO) under the Reserve Bank of India (RBI) guidelines so they have minimum compliances and NO TAX. We set up the LO and obtained all permissions. Our team was responsible for all compliances. NAP continued this structure for almost 3 years.

At the end of 3 years, NAP operations had grown and team stabilised. NAP again approached us for suggestions on best way to grow in India. Our team suggested them that they should now opt for a PLC (Private limited company) as this would mean increased credibility and corporate governance. Of course, the corporate shield and limited liability was one of the key reasons for our team to have suggested PLC.

NAP management evaluated our proposal internally and finally chose to form their own company in India. What followed was - hand holding them through the entire incorporation process such aschecking for availability of name, composition of board of directors, drafting business objects, etc and obtaining post incorporation registrationsas well as capital infusion including RBI reporting. We supportedand guidedclient through entire paper work and set up their entity with all registrations to be ready to undertake business activity and that too without their personal presence in India.