Scope of Business Outsourcing to India

Outsourcing is one of the fastest growing industry on the world platform. It mainly involves transfer of components or large segments of the companies' internal production processes, businesses, infrastructure, etc. to the external service providers. It can cover a wide range of components depending upon the core competency and the requirements of the outsourcer. It may be broadly classified into information technology (IT), human resource, customer service, engineering, knowledge services, legal, R&D outsourcing, etc.

Owing to its advantageous factors like presence of one of the world-best intellectual and internet resources, lower cost structure, multi-lingual capabilities, etc., India has emerged as the 21st century's software powerhouse, offering many advantages as a global sourcing hub, especially for IT enabled Services (ITES) and Business Process Outsourcing (BPO). The main motive behind outsourcing has been that it allows a company to invest more time, money and human resources in core active items without losing quality and name. Call centres have also mushroomed in India serving various foreign airlines and banks.

Further, economic success of the BPO industry has taken many firms to their advanced knowledge work to off shore destinations. Knowledge Processing Outsourcing (KPO) is one step extension of BPO and can be defined as high added value processes chain where the achievement of objectives is highly dependent on the skills, domain knowledge and experience of the people carrying out the activity. The KPO typically involves a component of BPO, Research Process Outsourcing (RPO) and Analysis Proves Outsourcing (APO). United States (US) and United Kingdom (UK) are the key markets for Indian IT-KPO exports.

As a result, India continues to dominate global outsourcing market with market size estimated to be worth about $52 billion. Banking and financial services contribute nearly 40 percent to India's outsourcing industry.

At the Central level, the Department of Electronics and Information Technology, under the Ministry of Communications and Information Technology, is the main authority responsible for the overall development of outsourcing in India. Accordingly, separate Departments of Information Technology have been set up in the States/ Union Territories. Both Central and State Governments as well as private sector/ MNCs have been making continuous efforts to develop this industry on a sustainable basis. But, they still need to develop the adequate talent base, provide technical knowledge and design appropriate training programmes for BPO employees, incorporate proper health care policies as well as implement safety measures, especially for women.

India has become one of the most sought after destination for the companies wanting to outsource their business, knowledge, research, legal and related high-end processes. This not only boosts exports, increases national income and creates greater employment avenues, but also increases tax revenues, caters to the growth of other related industries like infrastructure, catering, etc. The companies involved in outsourcing activities tends to earn huge profits out of this and thus, are in a position to offer their employees the good and competitive pay packages, along with many attractive employee benefits.

Business outsourcing in India has gradually become one of the well known business sectors in the country. The main reasons behind the growth of the industry are the economic liberalization policies undertaken by the government and the globalization. To cater to the growing demand of consumerism and the rising market, more and more foreign companies are outsourcing to India. 

The availability of skilled manpower and cheap labor rates have attributed to the growth of the outsourcing business in India. The outsourcing business has also become one of the main generators of employment for the youths and the freshers. According to recent surveys, around 0.7 million people work in the business outsourcing sector with an average wage growth of around 10 to 15 % annually.

Reasons why more companies outsource to India

There are a number of reasons why more and more foreign companies are starting outsourcing businesses in India. Some of the main advantages of India as an outsourcing destination are flexibility, technological competence, quality output, cost control facilities, time-to-market and so on.

According to recent surveys, around 82 of the major US companies have said that India is their first choice for outsourcing. With the development of the economy, the number is expected to rise. Renowned entrepreneurs like Bill Gates have hailed India as an IT superpower with immense expertise and competence.

Some of the major segments and assignments that are outsourced by most companies to India are:

•          Business Process Re-engineering

•          E-Commerce

•          System Migration

•          Maintaining Legacy Systems

•          System Integration

Apart from these, other specialized jobs are also done according to the skill set and the type of output the company is looking for. 

Welcome to Global Company Formation

Pearl Outsource is a part and parcel of Pearl Business Start up and is a market leading Outsource Consultancy and Facility Provider. Our online resources range from an expert online Maths Tutor to a Senior Accounting Professional ready, at a click away, thereby covering almost all areas of intellects, vulnerable to the latest technology.

To learn more about Pearl Outsource please follow the link below - See more at: http://globalcompanyformation.co.uk/

Global Company Formation UK Ltd

Suit 6-Westward House

Glebeland Road Camberley

Surrey, GU15 3DB

Tel: 02079935929

E  :info@globalcompanyformation.co.uk

W :www.globalcompanyformation.co.uk

Mathew Stephen FCA, AAIA, CeFA

Mathew Stephen is the founder Director of Global Accountancy Services. He is a qualified accountant from the Association of International Accountants in the UK and the Institute of Chartered Accountants of India. He is also one of the partners of international Chartered Accountants firm P. Parikh & Associates. He has 20 years’ experience in accounts, business consultancy, taxation & statutory audit. He is also a UK Independent Financial Advisor (IFA) and CeFA qualified at the IFS School of Finance.

He has won the Online Technology Award in two consecutive years, 2011 and 2012, from the Tenet Network. He specialises in Global Company Formation, International Taxation and also as Corporate Protection Advisor to the directors of Limited Companies.

Why Pearl CA College

                                                                                                                                                              

Accounting offers a wide variety of career options. In the business world people seek your advice and show respect for your answers on a wide range of issues. A chartered accountant is one of the most sought after professional in the finance industry. A chartered accountant would always have more opportunities to work overseas as the degree is recognized globally. The in depth experience as well as the rigorous training that a CA undergoes, can help him in entering the higher echelons of management. Some of the key areas that a CA works on are checking the veracity of the company’s financial reports, book keeping, advising on tax and many other responsibilities. You can start your own public practice as a Chartered Accountant. You can work in blue chip companies as a financial controller, accounts manager, audit manager, and finance director. You can start your own business.

There is not much awareness for joining CA and nobody is marketing this course. But in the case of Engineering, Medicine, MBA and Law we all see hoarding and paper advertisement. Total number of chartered accountants in India is less than 2.5 lakhs since 1949 when Institute of Chartered Accountants was formed. There is only one Institute in India to register for CA. But the emerging Indian economy demands more Chartered Accountants that is the reason why recently the growth in the number of CAs are increased. The cost of studying this course is comparatively cheaper than Medicine, Engineering, and MBA. Within a time period of 4 1⁄2 to 6 years you can become a Chartered Accountant. A CA by the age of 23, earns at least 10 lakhs per annum and you can work anywhere in the world.

The cost of doing CA is low while compared to other professional and nonprofessional courses in India. But in other hand, CA is the qualification supreme to other professions in respect of job and pubic reputation. Now you can join CA course while you pursuing higher secondary course. You can register CPT along with your High Secondary study and your child is well aware about the course in advance. It gives you more marks in your Higher Secondary Exams and your child can have CPT immediately after the Higher Secondary examination. On top of that your child has a career focus while they study Higher Secondary.  CA professional course comprises of three stages namely, Common Proficiency Test (CPT), Integrated Professional Competence Course (IPCC) and 3 year training and after 2.5 years of training students are eligible to write final exam.

During the part of the CA course, students must have 3 year practical training with practicing chartered accountants which is called Articleship. This is the way the student become a trained accountant and they can join any industry as a Chartered Accountant. The success to become a CA is absolute hard work of students. 

Why should you Choose Pearl?

Pearl CA College, Kochi is one of the reputed CA Colleges in Kerala, India. We have developed special courses for the Indian & International accounting jobs with an experienced team of Qualified Accountants from India & UK, Business Consultants and IFAs (Independent Financial Advisers) who have successfully served the business community for the last 20 years. We have devised special courses for the Indian and International accounting jobs. 

Pearl offers integrated courses like CA+B.com and B.com with Practical Accounting in which CA+B.com is incorporated with an ultimate objective of not only helping the students to take advantage of their time but also adding extra career security to a CA student to make sure they are not left with anything in case if they leave the course half way. B.com with Practical Accounting is a course which is first of its kind in India designed with the objective of securing more job oriented education to the B.com students.

The learning process that Pearl inculcate gives you an insight on how to pass CA through our International tutors & our dedicated teaching tools. Our directors and colleagues are experts in the industry and they share with you their secret to success in the finance industry. Pearl’s aim is to train you to pass CA & place you in Indian and International firms. The college is offering educational training, experience in Indian & International accounting, finance and business consultancy services. The dedicated team is committed to delivering what you need on time with the utmost efficiency. The institution’s industry wide expertise allows us to provide job based training to their CA students in our International accountancy practice firms and also internal placements to the right candidate. You will be well equipped in accounts, taxation, international company information, investment, outsourcing and so on.

The college is omnipresent with international branches viz. London, New York, Dubai, Zurich, Mumbai and also have presence in Delhi, Hyderabad, Cochin. Keeping in mind the scope of CA as an excellent job oriented qualification where no CA is unemployed in India, the college has developed a special course to cater Indian & International accounting jobs.

Features of Pearl CA College

• India's first CA residential regular college
• Regular College run by International CA Firm
• Best National Result
• Integrated courses like CA+B.com and B.com with Practical Accounting
• CA classes conducted by Internationally Qualified Faculties
• Soft skill development classes taken by international faculties
• Air conditioned and Hi tech class rooms
• 24x7 Parent Support Line
• Job Based Training
• Separate placement department for accounts job
• Hostel facilities for boys and girls
• Online exam portal supported by question bank of 20,000
• Rigorous selection procedure
• Constant touch with the industry
• 100% job assistance
• Exclusive Pearl Exam Portal for every students – www.pass-ca.com
• High Tech Learning Method
• Scholarships available
• Students Counseling / Motivation
• A holistic environment for learning
• Skill development programmes like Pearl Speak Master
• Minimum 200 hours of classes per subject
• Pass guarantee scheme
• Daily extra tuition for Maths and Accounts
• Unique test series similar to CA real exam to ensure guaranteed success
• Communication, confidence building sessions to enable students to appear for interviews and work in big CA firms India and Abroad
• Motivational classes by business leaders to encourage students and boost their confidence
• 100% placement assistance for Articleship through campus interviews

Pearl Speak Master

Pearl Speak Masters is a leading skill development club set up by the Pearl CA College which is an English-speaking club supporting people to become great communicators. Pearl Speak Masters offers a platform of communication and leadership venture designed to help mastering the skills of speaking, listening and thinking. Pearl Speak Masters takes place every Saturdays in a friendly and entertaining atmosphere at our Pearl CA College in Cochin where you will learn or watch others to entertain, inspire, inform, motivate or persuade the audience; to cultivate the ability to speak off the cuff; and to give constructive feedback.  The standard quorum for the meeting is 15 and the members can not only be the students but also professionals from outside. The entire Programme is structured to confine in an hour. Topics will be relevant business news covered in last week’s news papers.  At the end of the speak master competition, best speakers will be selected through secret voting and are prized as Pear Speak Master.

A Pearl Speak Master meeting is a learn-by-doing workshop in which participants hone their speaking and leadership skills in a no-pressure atmosphere. Membership in Pearl Speak Master’s club is one of the greatest investments you can make in yourself. It is also one of the most cost-effective skill-building tools available anywhere as the membership is absolutely free of charge.

There is no instructor in a Pearl Speak Master meeting. Instead, members evaluate one another’s presentations. This feedback process is a key part of the program’s success.

Meeting participants also give impromptu talks on assigned topics, conduct meetings and develop skills related to timekeeping, grammar and parliamentary procedure.

Please log on to http://www.pearlaccountants.org/ or reach us on +91 9567248250 or + 91 0484 - 40 3 9000 to more about admission to our Pearl Master

Mathew Stephen FCA, AAIA, CeFA

Mathew Stephen is the founder Director of Pearl CA College. He is a qualified accountant from the Association of International Accountants in the UK and the Institute of Chartered Accountants of India. He is also one of the partners of international Chartered Accountants firm P. Parikh & Associates. He has 20 years’ experience in accounts, business consultancy, taxation & statutory audit. He is also a UK Independent Financial Advisor (IFA) and CeFA qualified at the IFS School of Finance.

He has won the Online Technology Award in two consecutive years, 2011 and 2012, from the Tenet Network. He specialises in Global Company Formation, International Taxation and also as Corporate Protection Advisor to the directors of Limited Companies.

Pearl CA College

Seaport Airport Road, Vallatholl Junction,

Thrikkakara P.O, Ernakulam – 682021

Kerala, India

Ph: 0484 - 40 3 9000, 40 4 9000 

Mob: +91 9567248250

Email: info@pearlaccountants.org

                                                                                                                                                    

Start a business in India

With lowest operating cost, 
cheap labour and special economic zones with tax exempt status, India has become a lucrative destination for foreign entities to set up their business.   Government of India’s policy regime and positive business environment has also added to the existing factors.

Features making India one of the favorite offshore jurisdictions for incorporation

• World's largest democracy with 1.2 billion people.
• Stable political environment and responsive administrative set up.
• Well established judiciary to enforce rule of law.
• Land of abundant natural resources and diverse climatic conditions.
• India's growth will start to outpace China's within three to five years and hence will become the fastest large economy with 9-10 per cent growth over the next 20-25 years
• Investor friendly policies and incentive based schemes.

Advantages of Incorporating in India

Incorporation in India offers certain advantages to a company as compared to other countries.

• Business operating costs are low in India because an Indian LLC can be formed with a low paid up share capital. The average monthly salary of the staff in India is much lower compared other countries according to the International Labor Organization. Average energy costs are also low in India at 8 cents per Kw-hour, compared to western countries where the costs can be higher than 20 percents. India’s annual rental costs for office space are also comparatively lower. India has amongst the lowest consumer cost index in the world. Consequently, foreign entrepreneurs will find it easier to establish an India business set up.

• India is an excellent country to set up a manufacturing company because setting up a manufacturing unit in one of India’s 170 Special Economic Zones allows the firm to be tax exempt for the first 5 years, 50% tax exempt in the next 5 and 50% tax exempt on re-invested export profit for next 5 years. The Indian Government offers several incentives for manufacturing firms including tax holidays for upto 5 years for companies undertaking infrastructure projects and power projects; funding for approved R&D projects and power projects; funding for approved R&D projects and tax credit and insurance guarantees for export-oriented companies.

• India has the world’s second largest labour market with 487 million people. The overall literacy rate is also very high and further more a massive supply of unskilled labor force is also available who work at a lower average monthly wage rate. Warehouse/factory rental costs are very low in the country.

• Also India has a massive consumer market with a huge domestic demand. So, it is essential for foreign entrepreneurs to incorporate in the country to harness this demand. India company incorporation allows entrepreneurs to market their produce to other huge markets including China, Australia, Malaysia and Indonesia with whom India has significant trade ties.

• Foreign investors should establish a services company in India because India has an oversupply of educated labor. Every year, India produces around 3 million engineering and doctoral graduates which is more than USA and China combined. Consequently, foreign entrepreneurs should set up in India to take advantage of the highly skilled work force.

• Not only that, English being the primary business language, is it easier for foreign investors to interact with consumers, suppliers and employees. India is the best South Asian country for getting business credit. This will help foreign entrepreneurs in expanding their business operations in the country. Consumer demand, both domestically and globally, for Indian services industry is very high. For example, India leads the world in offshore Business Process Outsourcing and IT Outsourcing. So India will be a highly advantageous base of operations for any service business set up.

• More over Indian Government offers monetary incentives to encourage local firms to access the foreign market. Funding is provided to companies who wish to market their products in international trade shows and fairs.  Incentives are also available at the state level for IT firms. For example firms which provide IT related services to help under-developed states move towards e-governance will receive 100% tax credits.

Entry routes for foreign start ups in India

There are various forms of business structures available in India. They are Pvt Ltd Company, Public Limited Company, LLP, Partnership, sole proprietorship, Sec 25 companies and Trust. 

Business can be organized in one of the several ways, and the form its owners choose will affect the companies and owners' legal liability and income tax treatment. Out of that, company form of organization is the most common incorporated business structure in India. The company registration in India is regulated by the Companies Act, 1956, and administered by the Ministry of Corporate Affairs through offices of the Registrar of Companies (ROC) in each state.

But when it comes to a foreign entity, business presence in India may be established through:

(i)                  As an incorporated entity under the Companies Act 1956 through JVs or wholly owned subsidiaries

(ii)                As an unincorporated entity through liaison office/representative office or project office or branch office of a foreign company. Such offices can undertake activities permitted under the Foreign Exchange Management (establishment in India of branch office of other place of business) Regulations 2000.

SETTING UP LIAISON – REPRESENTATIVE – BRANCH – PROJECT OFFICE

Liaison Office /Representative Office

A foreign company may open a liaison office in India to promote its business interest, spread awareness of its products, explore further opportunities and act as a communication channel between itself and various Indian companies. A Liaison Office could be established with the approval of Reserve Bank of India. The role of Liaison Office is limited to collection of information, promotion of exports/imports and facilitates technical/financial collaborations. It is required to maintain itself out of inward remittances received from abroad through normal banking channels. Liaison office cannot undertake any commercial activity directly or indirectly. Permission for such offices is initially granted for a period of three years and may be extended from time to time. Applications for renewal of permission are required to be made to the concerned regional office of Reserve Bank under whose jurisdiction the office is situated.

Project Office                    

                                                                                                                                                                    Foreign companies planning to execute specific projects in India can set up temporary project/site offices in India for carrying out activities only relating to that project. RBI has now granted general permission to foreign entities to establish project offices subject to specified conditions

Branch Office

Foreign companies engaged in manufacturing and trading activities abroad are allowed to set up branch offices in India for the purposes of export/import of goods, rendering professional or consultancies services, R&D, promoting technical or financial collaborations, representing the parent company, acting as buying/selling agents, rendering services in IT and development of software, rendering technical support to the products supplied by the parent/group companies, foreign airline/shipping companies. Branch offices could be established with the approval of RBI and may remit outside India profit of the branch, subject to RBI guidelines after payment of applicable Indian taxes.

To learn more about incorporation in the Bahamas or any other offshore jurisdiction, please follow the link below - See more at: http://globalcompanyformation.co.uk/

Global Company Formation UK Ltd

Suit 6-Westward House

Glebeland Road Camberley

Surrey, GU15 3DB

Tel: 02079935929

E  :info@globalcompanyformation.co.uk

W :www.globalcompanyformation.co.uk

Welcome to Global Company Formation

We offer formation advice to start up business globally. We advise you of the mode of start up like limited company, partnership, sole trader, trust and which is more suitable to your business. Our professional team consists of Lawyers, Chartered Accountants & Business Consultants in all major jurisdictions across the globe. We guide you to the country of formation on the basis your domicile status, double taxation agreement, international plan and repatriation rule of the each country. Now you can form your business anywhere in the world with us and we care your business.

Mathew Stephen FCA, AAIA, CeFA

Mathew Stephen is the founder Director of Global Accountancy Services. He is a qualified accountant from the Association of International Accountants in the UK and the Institute of Chartered Accountants of India. He is also one of the partners of international Chartered Accountants firm P. Parikh & Associates. He has 20 years’ experience in accounts, business consultancy, taxation & statutory audit. He is also a UK Independent Financial Advisor (IFA) and CeFA qualified at the IFS School of Finance.

He has won the Online Technology Award in two consecutive years, 2011 and 2012, from the Tenet Network. He specialises in Global Company Formation, International Taxation and also as Corporate Protection Advisor to the directors of Limited Companies.

Incorporating in Singapore

With an unique infrastructure, flexible tax system and minimal bureaucracy, Singapore is a favourable and prestigious country, in which to establish a business. Increasing numbers of entrepreneurs, corporations and ventures of all sizes across the world are using Singapore as the incorporation

 jurisdiction for their business. 

Advantages of Incorporating in Singapore:-

Advantageous Foreign Ownership Policy - An entity domiciled in Singapore is permitted to allocate 100% of its shares to foreign shareholders, allowing complete ownership of the company from a foreign location.

Attractive Tax Obligations - Singapore administers English Common Law, yet unlike Great Britain has no offshore legislation. As such it offers a combination of tax exemptions on income and benefits to foreign entities, providing an attractive business environment.

Excellent business and social infrastructure - The political stability compliments it in addition to the transparency of the bureaucratic processes. Corruption is almost negligible. Policies and Laws that are framed by the Singapore Government do not leave any scope for unbalancing the local peoples’ interests and the benefits of the foreign entrants and settlers.

Fast Formation Process - The registration process is fast and trouble free as there are no complications. A business can be literally registered in two days if all the required documents are proper and you can start your company operations within a week or two.

Credible image - Since Singapore is not a tax haven, an offshore company that is incorporated in Singapore communicates credibility and stature as a legal entity. By incorporating a Singapore offshore company, your business will be taken seriously by stakeholders such as employees, bankers or other professionals you will be dealing with.

Singapore has been consistently ranked as the world’s easiest place to do business. The company registration process is quick and efficient, free of bureaucratic red-tape. The registration procedure is fully computerized and involves only two distinct steps – company name approval and submitting incorporation documents. Both these procedures can be executed online and under normal circumstances a Singapore offshore company can be incorporated in 1-2 days.

Liberal foreign ownership policy - Singapore’s foreign ownership policy is open and liberal. There are no restrictions on permitted fields of business activity if you want to set up an offshore company in Singapore. 100% foreign shareholding is allowed in all sectors. Shareholders can be individuals or corporate bodies. Additionally, foreigners wanting to register an offshore company in Singapore do not require prior approval from Singapore authorities.

Political stability - The Political and Economic Risk Consultancy has rated Singapore as the most politically stable country in Asia and Asia’s least bureaucratic country. The Singapore government is noted for its high integrity and pro-business approach. It is often described as rational, pragmatic, transparent and corrupt-free. Singapore is also characterized by a transparent, sound and efficient legal system. There are clear-cut rules and regulations pertaining to commerce, intellectual property protection, manpower and other business related areas. As a result, the level of risk involved in setting up and operating a Singapore offshore company is minimal and almost non-existent.

Sophisticated banking facilities - Singapore has emerged as the leading financial center in the Asia Pacific region. Singapore offshore companies have a broad choice of world-class local and foreign banks for opening an account. Banks in Singapore offer a wide-array of attractive features such as multi-currency accounts, internet banking, credit cards, trade financing, freedom to move funds across countries and more. Although most of the banks require physical presence at the time of opening the account some of them are willing to make an exception on a case-by-case basis. The account opening process may take anywhere from 2-15 days depending on the amount of due-diligence undertaken by the bank.

Global Company Formation UK Ltd 

Suit 6-Westward House

Glebeland Road Camberley

Surrey, GU15 3DB

Tel: 02079935929

E  :info@globalcompanyformation.co.uk

W :www.globalcompanyformation.co.uk

Welcome to Global Company Formation 

We offer formation advice to start up business globally. We advise you of the mode of start up like limited company, partnership, sole trader, trust and which is more suitable to your business. Our professional team consists of Lawyers, Chartered Accountants & Business Consultants in all major jurisdictions across the globe. We guide you to the country of formation on the basis your domicile status, double taxation agreement, international plan and repatriation rule of the each country. Now you can form your business anywhere in the world with us and we care your business.

Mathew Stephen FCA, AAIA, CeFA

Mathew Stephen is the founder Director of Global Accountancy Services. He isa qualified accountant from the Association of International Accountants in the UK and the Institute of Chartered Accountants of India. He is also one of the partners of international Chartered Accountants firm P. Parikh & Associates. He has 20 years’ experience in accounts, business consultancy, taxation & statutory audit. He is also a UK Independent Financial Advisor (IFA) and CeFA qualified at the IFS School of Finance.

He has won the Online Technology Award in two consecutive years, 2011 and 2012, from the Tenet Network. He specialises in Global Company Formation, International Taxation and also as Corporate Protection Advisor to the directors of Limited Companies.