How Flexible Workspaces Are Transforming Modern Businesses

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Global Capability Centres (GCCs) are specialised units set up by multinational companies in India to take care of their services like IT, finance, HR, and R&D. In the last couple of years, India has become a prime location for GCCs due to its large talent pool and cost benefits. However, setting up a GCC needs the right attention to legal and compliance requirements. With this guide, learn in detail the essential legal and compliance checklist for new GCC setups. Understand how these compliances can help companies launch their projects smoothly, while avoiding legal issues.

Legal checklist for new GCC setup
Choose the right legal structure

• Register as a Private Limited Company or Limited Liability Partnership (LLP) with India’s Ministry of Corporate Affairs (MCA).
• For the registration of the company, you need to get a Director Identification Number (DIN) and a Digital Signature Certificate (DSC).
• Also, get registrations such as PAN (Permanent Account Number), TAN (Tax Deduction and Collection Account Number), and GST (Goods and Services Tax).
• Regarding foreign investment, do follow the Foreign Exchange Management Act (FEMA) and the Foreign Direct Investment (FDI) policy. Wholly Owned Subsidiary (WOS) is the usual choice, and Joint Ventures (JV) are used in restricted sectors.

Foreign investment and RBI rules

• Make sure to follow the Reserve Bank of India (RBI) guidelines on foreign investments, especially if funds come from sensitive countries or sectors.
• To avoid penalties, ensure to keep track of foreign exchange rules for remittances and investments.
• Compliance checklist for new GCC setup

Employment and labour laws

• Make sure to follow the Reserve Bank of India (RBI) guidelines on foreign investments, especially if funds come from sensitive countries or sectors.
• To avoid penalties, ensure to keep track of foreign exchange rules for remittances and investments.
• Compliance checklist for new GCC setup

Conclusion

This legal and compliance guide explains the complex process of setting up a GCC in India, with a focus on a compliance and legal checklist for new GCC setup. Make sure to follow this roadmap to ensure your GCC benefits from India’s business environment while avoiding costly legal challenges.
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