Steps Involved in Incorporating a Company and Setting up of a 100% Export Oriented Unit under Software Technology Parks of India (STPI) .
Stage 1: Incorporation of CompanyRegistration with Registrar of Companies, Karnataka
Application to income tax department to obtain Permanent Account Number (PAN) or Corporate TAX ID & Tax deduction Account Number (TAN) to withhold & remit the withholding taxes
Application to Joint Director General - Foreign Trade for Importer Exporter Code (IEC)
Application to Software Technology Parks of India (STPI) to set up a 100% Export Oriented Unit (EOU)
Documents to include:
- Application Form in the prescribed form
- Memorandum and Article of Association
- Board Resolutions for setting up STP Unit and persons authorized to sign.
- Resume of Person Heading the operation / CEO
- Detailed project report / Business plan consist of
- Company profile
- Promoters background
- Units Area of Expertise / Services offered
- Marketing Strategy / Marketing Arrangements
- Manpower plan
- Future plans
- Financials statement like :
- Cost of project & Means of finance
- Projected P&L A/c.
- Projected Balance Sheet
- Projected Cash flow / fund flow statement
- Export workings - (As per Transfer pricing guidelines where ever applicable)
- Other documents like
- Copy of FIRC's and letter filed with RBI for receipt of Foreign equity
- Copy of service agreement signed with parent company / clients/ PO with clients / Master service agreement
- Initial application processing fee of INR 2,500 and Advance service charges of INR 22,500 at the time of executing the legal agreement. Service charges to be paid annually as per the slabs given in the application.
On receipt of Letter of Permission (LoP) from STPI, enter into legal undertaking with STPI within 45 days from the date of LoP.
Approach Customs authorities to avail duty concessions by setting up a Private bonded warehouse.