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You can incorporate any type of company based on your requirements. However, you will have to open a Current Account in the name of your company for this. Since the Service is being remitted to US companies and the money is coming from US sources, some banks may insist you to get Import Export Code Registration to process the payment. Apart from that,...
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caWhat kind of company do I need to register to in order to start a service-based business between India and the US? Money will need to be remitted to the US firm. Do I need a special bank account for remitting money to the US?
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W Network
caYou can incorporate any type of company based on your requirements. However, you will have to open a Current Account in the name of your company for this. Since the Service is being remitted to US companies and the money is coming from US sources, some banks may insist you to get Import Export Code Registration to process the payment. Apart from that, since export of services is exempt from GST, your customer companies will not pay GST. However, for you to claim this exemption you will have to submit a Letter of Undertaking to GST Department.
In case you need any assistance in legal or accounting or secretarial services, we can deliver them seamlessly on Wazzeer platform -> "Get your Wazzeer"
over 3 years ago
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What kind of company do I need to register to in order to start a service-based business between India and the US? Money will need to be remitted to the US firm. Do I need a special bank account for remitting money to the US?
-
W Network
caYou can incorporate any type of company based on your requirements. However, you will have to open a Current Account in the name of your company for this. Since the Service is being remitted to US companies and the money is coming from US sources, some banks may insist you to get Import Export Code Registration to process the payment. Apart from that, since export of services is exempt from GST, your customer companies will not pay GST. However, for you to claim this exemption you will have to submit a Letter of Undertaking to GST Department.
In case you need any assistance in legal or accounting or secretarial services, we can deliver them seamlessly on Wazzeer platform -> "Get your Wazzeer"
over 3 years ago
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