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India

India Flag

Country: India
Region: Asia
Currency: Indian Rupee (INR) (R)
Languages: Hindi, English
Time Zone: UTC +5:30

Phone Code: +91

Communications: Very Good

Formation Cost: 2700 - 3300 USD$
Formation Time: 21-35 days
Maintenance cost: 1000 - 1800 USD$

Executive Summary: The population is approximately 1.2bn, second only to China, and is growing at 1.34% per year. Delhi is the political capital, with 22m inhabitants, and Mumbai (Bombay), the commercial capital, with 20m inhabitants. There are twenty official languages in India, testifying to its fragmented past; Hindi is the most widely spoken, being used by 41% of the population. For political, economic and commercial communication, English is very widely used. The legal system is based on English common law and precedents play a large part in the judicial process. India's economy was held back for a long time by protectionist, autarkic tendencies, but liberalization began in the 1990s and large parts of the economy can now be described as open. Growth has averaged 7% for the last ten years and levels of FDI have been strong. However, taxation is complex and often highly uncertain; proposals to introduce retrospective tax laws as part of the 2012 Budget are a case in point. Nevertheless, the Government has tended to encourage investment in high-tech ventures and outsourcing industries, and there is a ready supply of well-educated workers in most sectors.

Suitable for: Wealth Management, Treasury Management, Banking, Insurance, Fund Management, Shipping, Aviation
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

E-Gaming:

 

Property Ownership:

 
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Vehicle Types: Incorporated companies, limited liability partnerships, general partnerships, sole proprietorships, co-operatives, branches and trusts

Capital primary business districts: New Delhi, Mumbai

Good Relationships: China, France, Germany, Philippines, Singapore, Sri Lanka, Thailand, United Kingdom, United States, Vietnam

Bad Relationships: Burma, Egypt, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Moderate

Tax Burden - Individual: Moderate

Headline tax rates: CIT 30% (plus surcharge 5% and cess 3%), PIT 10%-30% (educational cess 3% of tax), VAT 12.5% (service tax 12.36%)

Treaty Jurisdictions: Armenia, Australia, Austria, Bangladesh, Belarus, Belgium, Botswana, Brazil, Bulgaria, Canada, China, Czech Republic, Denmark, Egypt, Estonia, Ethiopia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, Indonesia, Ireland, Israel, Italy, Japan, Jordan, Kazakhstan, Kenya, Korea, Republic of, Kuwait, Kyrgyzstan, Libya, Lithuania, Luxembourg, Malaysia, Malta, Mauritius, Mexico, Mongolia, Montenegro, Morocco, Mozambique, Myanmar, Namibia, Nepal, Netherlands, New Zealand, Norway, Oman, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Singapore, Slovenia, South Africa, Spain, Sri Lanka, Sudan, Sweden, Switzerland, Syria, Taiwan, Tajikistan, Tanzania, Thailand, Trinidad and Tobago, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uzbekistan, Vietnam, Zambia

TIEA Jurisdictions: Argentina, Bahamas, Bahrain, Bermuda, British Virgin Islands, Cayman Islands, Gibraltar, Guernsey, Isle of Man, Jersey, Liberia, Liechtenstein, Macau, Monaco, San Marino, Sint Maarten

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