Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Opening a business in India

  • 05-04-2011 1:12pm
    #1
    The Highwayman
    Registered Users, Registered Users 2 Posts: 1,227 ✭✭✭


    With India on the move with china and set to grow at a huge rate over the next few years does anyone have any info on starting a business over there?


Comments

  • #2
    TheCostumeShop.ie: Ronan
    Company Representative Posts: 1,740 ✭✭✭TheCostumeShop.ie: Ronan


    I've just been through this process with a business due to launch next week. It's very bureaucratic. There is a requirement that an India citizen, resident in India, must own 25% or more of the equity of the new business which means you have to have good local contacts and knowledge. In my case I hired a CEO over there and he took up equity so that solved that requirement.

    I'd strongly suggest spending some time over there and putting together a good team of lawyers, accountants and senior management.

    Any forms that need to be filled out in Ireland need to be signed off by a lawyer and notarized by the department of foreign affairs and then the India embassy. So expect to spend an awful lot of hours queue up pointlessly as it must be the prospector who submits them all.

    It's worth it though, the growth rate there is 8.2% last quarter and 8.3% the quarter before. They are just heading into their property boom and the work force is motivated and well educated.

    What sector of business are you looking into starting? Pm me if you need any info.


  • #3
    MrMatisse
    Closed Accounts Posts: 1,743 ✭✭✭MrMatisse


    India is very different to China. The infrastructure is appaling, the paperwork is mind boggling, the authorities are very unhelpful and unlike China its difficult to get around the former.


  • #4
    Somnia
    Closed Accounts Posts: 15 ✭Somnia


    If you're thinking of China give Niall O'Reilly a shout at accuratelimited.com - Dublin guy whose been living and working in China for 20 years.
    S.


  • #5
    mikefm
    Registered Users, Registered Users 2 Posts: 110 ✭✭mikefm


    The Highwayman wrote: »
    With India on the move with china and set to grow at a huge rate over the next few years does anyone have any info on starting a business over there?

    The Indian Embassy would be a good first port of call or some Irish companies working there already e.g Seabrook Technology in Cork. There's also an Irish-India Business Association (David Carthy is helpful there)


Advertisement