Business Archives

22 May

LLP vs Private Limited Company for a Subsidiary in India: Which One Should You Choose?

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India has emerged as a preferred destination for global businesses looking to expand in Asia. One of the first steps for a foreign company entering the Indian market is to set up a subsidiary. But a common question arises: Should you register your subsidiary as a Limited Liability Partnership (LLP) or a Private Limited Company? In this blog, we break down the pros and cons of both structures from a legal, financial, and compliance perspective — so you can make an informed decision. Understanding the Basics What is an LLP? An LLP (Limited Liability Partnership) combines the flexibility of a…

16 May

Common Mistakes People Make While Setting Up a Subsidiary Company in India

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Common Mistakes People Make Expanding business operations by setting up a subsidiary company in India is a smart move for many international companies and entrepreneurs. India offers access to a large market, skilled talent pool, and favorable policies for foreign investment. However, the process of establishing a subsidiary in India isn’t as simple as filling out a few forms and opening a bank account. Without the right guidance, many companies fall into costly traps that can delay or derail their expansion. At Wazzeer, we help startups, SMEs, and international businesses navigate the legal and compliance landscape in India. Based on…

11 Oct

What Business Owners Can Learn from Ratan Tata: Timeless Lessons for Success

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Ratan Tata, was the iconic Indian industrialist, philanthropist, and former Chairman of Tata Group, was a name synonymous with ethical business practices, innovation, and social responsibility but sadly we lost him yesterday, being end of an era. I am deeply sadden by this and the way through which we all can cherish him forever in our memories is through his teachings. So here the blog on his timeless lessons. Over his decades-long leadership, Ratan Tata steered Tata Group into becoming a global conglomerate, while staying grounded in values that prioritize people over profits. For business owners, Ratan Tata offered a…

29 Jul

Understanding the Impact of Union Budget 2024 on Businesses: Legal, Accounting, and Compliance Insights

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The Union Budget 2024 is a pivotal financial event that lays out the government’s economic plan for the fiscal year. For businesses, particularly small and medium enterprises (SMEs), understanding the implications of the budget is crucial for strategic planning and compliance. This blog aims to simplify the key aspects of the Union Budget 2024, focusing on legal, accounting, and compliance changes that businesses need to be aware of. Throughout this discussion, we'll refer to our focus, Understanding the Impact of Union Budget 2024 on Businesses: Legal, Accounting, and Compliance Insights, as our guiding framework. 1. Overview of the Union Budget…

11 Jun

How To Manage Your Business Finances with Wazzeer

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Managing business finances effectively is crucial for the success of any entrepreneurial venture. For Indian entrepreneurs, understanding and implementing sound financial management practices can significantly impact business growth and sustainability. This guide will cover key aspects of financial management, including bookkeeping, tax planning, financial reporting, and audits, along with software recommendations and tips for working with accountants. 1. Bookkeeping Bookkeeping involves the systematic recording of financial transactions. It is the foundation of your business’s financial health. Key Practices: Maintain Regular Records: Record all financial transactions promptly and accurately. Categorize Transactions: Classify expenses and income correctly to track where money is…

04 Mar

Top 5 Red Flags to Watch Out for During Startup Due Diligence

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When embarking on the journey of entrepreneurship, conducting due diligence is necessary. Whether you're an investor looking to fund a promising startup or an entrepreneur seeking to partner with others it's necessary to conduct startup due diligence as well as scrutinising the fundamentals of a business is crucial for making informed decisions. In the world of startups, where risks run high and rewards are uncertain, identifying potential pitfalls early on can save you from future headaches. In this blog, we'll explore the top five red flags to watch out for during startup due diligence. 1. Inconsistent Financials: One of the…

24 Jan

Let’s Know The Difference Between Trusts, Section-8 Companies, And Societies

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In the dynamic landscape of legal and organizational structures in India, entities such as Trusts, Section-8 Companies, and Societies serve distinct purposes, each governed by its own set of rules and regulations. It is crucial to understand the nuances of these entities to make informed decisions. In this blog, let's know the differences between Trusts, Section-8 Companies, and Societies, shedding light on their unique characteristics and the specific scenarios in which they are most suitable. Trusts: A trust is a legal entity created by the settlor, who transfers property to trustees for the benefit of beneficiaries. Trusts are primarily governed…

17 Feb

Different Sources Of Funding For Startups In 2024

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At different stages of startup lifecycle, namely - startup and early-stage development, growth and expansion, and maturity, the requirement for funds inevitably comes up. As the meeting of such requirements comes to the mind, entrepreneurs tend to consider different sources of funding for startups. In this blog, we will be looking into such sources for raising funds from. Seed Capital And Early Stage Funding Stage: Seed funding when the business is pre-revenue and it may still be developing an MVP. This funding is used by the startup to: cover the initial costs of starting, to invest on the R&D and…

27 Sep

A Complete Guide For Setting Up A Company In India For NRI And Foreign Citizens

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Starting a business in India as a foreigner or NRI is getting easier day by day due to the new government policies of Foreign Direct Investment (FDI), Simple procedures of incorporation, and other requirements. In this article, we are going to give a complete step-by-step procedure of setting up a company in India for foreigners and NRI’s. Individuals (Foreigners and NRI’s) who want to start a business in India. Can do it by following the below steps of setting up a company India. Incorporation Filing for FC-GPR Getting the Required Licenses and Registrations 1. Incorporation Company Incorporation is the first…

05 Nov

Everything You Need To Know About FLA (Foreign Liabilities And Assets) Reporting

Business

The Annual return on foreign liabilities and assets (FLA) needs to be submitted by all the entities which have received FDI or made an investment overseas in current and previous year(s). 1. What Is Foreign Liabilities and Assets Annual Return? FLA annual return is one of the compliances that have to be met by the companies/LLP’s that are involved with FDI (Foreign Direct Investments) or companies who invest in foreign countries either via joint venture or wholly-owned subsidiaries, also termed as Overseas Direct Investment (ODI). FLA Annual Return must be directly submitted by the entities to Reserve Bank of India.…