Our finance consulting practice has
been setup to service the needs of companies based in
the Americas and Europe as well as Singapore companies
that wish to expand into the rapidly growing India
market. The ongoing deregulation, privatization and
liberalization of the Indian economy is drawing the
attention of western and other South East Asian
companies to explore growth opportunities, invest and
setup operations in India.
However, setting up a business in India is complex,
time-consuming, and involves a number of processes or
approvals, including cutting through red-tape. This
process can be a daunting task for a foreign companies
or individuals that do not have a local presence and are
not familiar with Indian requirements. Setting up a
company in India can take up to 73 days compared to 3
days in Singapore. There are a number of other statutory
requirements like obtaining FIPB and other regulatory
approvals. From a statutory perspective, there are
numerous requirements in terms of
- Service Tax,
- Professional Tax,
- Advance Tax,
- Income Tax,
- Fringe Benefit Tax,
- Payroll Tax,
- Value added Tax,
- Tax Deducted at Source,
- Excise Duties,
- Custom Duties and so on.
Some of these requirements need quarterly filings in
addition to semi-annual and annual filings including
estimated returns. These complex requirements need full
time resources based locally and usually are difficult
to manage by a shared service finance operation situated
in Singapore or other South East Asian countries. Laws
and regulations in India change frequently. Keeping up
with frequent changes remotely is extremely challenging.
Rising wages, attrition, employee turnover and retention
also puts a strain on regional finance teams in terms of
their ability to monitor the India operations and close
their management books on time or answer auditor
queries. By acting as a consolidator, Halogen can free
up your management and finance organization from the
complex maze of Indian requirements allowing you to
focus on growing your business.
Halogen Value Proposition
- Virtual India Finance Team. An outsourced function
that closely integrates with your in-house finance team
- Consolidate your various statutory requirements to one
professional services organization
- Meet all corporate requirements and comply fully with
policies and procedures
- Delegate finance recruitment and training
- Customized solutions.
If your company is looking to tap into the India market,
and is looking for a partner to provide turn-key finance
support until your business is established, setup and
integrated with your corporate finance department, then
Halogen has the perfect solution. Halogen can provide
CFO or Finance Director level equivalent support at the
ground level in India that works with your existing
Finance organization. Halogen can also provide a
complete finance outsourcing function including
maintaining both statutory and management financial
accounting and reporting for your India operations that
will tie seamlessly with your international reporting
requirements. Halogen was setup by qualified financial
professionals who have held senior finance roles in
Fortune 500 companies that understand international
accounting standards like US GAAP, IFRS and IAS and
Singapore GAAP. The unique value proposition from
Halogen to your business is a thorough understanding of
your company needs from an international perspective and
the ability to translate those requirements into action
in the Indian operating context.
Halogen can provide the following services
1. Company Setup, Registration and incorporation
2. Setup banking relationships and on-line banking
facilities
3. Obtain various statutory approvals
4. Complete finance outsourcing and transaction
processing
5. Financial Reporting and Analysis
6. Management consulting and advisory
7. Tax planning and structuring using Singapore India
Free Trade Agreement (CECA).
8. Statutory compliance (excluding audit)
9. Transfer pricing support
10. Accounting system implementation and setup
11. Rollout of Corporate policies, procedures and
processes
12. Integration of accounting systems, banking systems
and reporting platforms with your existing systems
13. Recruiting and training local staff to your company
requirements
14. Liaison and co-ordination for India operations
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