Know Law
Labz Notification 2 of 2011
A written-cum-video initiative to know your corporate legal position as on date
Legal Queries??
What are the benefits of setting up SEZ unit under a umbrella by consolidating all the approvals from various Ministries & Departments of India? Whether setting up an SEZ unit is better than an industry in other parts of India? What are the various procedural requirements for setting up an SEZ unit ? How much time does it take to set up an SEZ unit?
Solution…
Fast track set up-of industry under a umbrella by consolidating the approvals as an unit in SEZ (SEZ stands for Special Economic Zones)
To encourage export in consonance with the policy of World Trade Organisation, India has certain export promotion schemes. Under these schemes Industries are developed in the prescribed Export promotion areas. The industries/units which are developed in these zones are eligible for various benefits foreign investment is liberalized, the taxation procedures are discounted and many more procedures are simplified to these Zones or units or parks. Read More...
Requirement under Indian laws on fast track set up-of industry as a unit in SEZ:
A company for Setting up of an SEZ requires approvals from various authorities & co-ordination of various central and state government agencies. It also requires wholesome compliance or registration under innumerous industrial, environmental, labour, tax, corporate and other economic & labour laws.
Myth buster on fast track set up-of industry as a unit in SEZ:
Though it is a single window clearance, there are registrations, intimations & approvals mandated much before commencement of the project (which are divided into in-principle & final approvals), during set-up and is an on-going process throughout the life of the SEZ!!!
Caution point on fast track set up-of industry as a SEZ unit!!!
Any company set up with Foreign Direct Investment (FDI) has to be incorporated under the Indian Companies Act with the Registrar of Companies of the State for undertaking Indian operations.
WATCH LAWLABZ VIDEO on fast track set up-of industry as a SEZ unit (Click Here):
At Lawlabz, we offer 360O Personalized VIRTUAL Corporate Solutions by offering COMPLETE online legal support for your organization since its set-up as your entrepreneurial venture, during its management as a corporate entity or a manufacturing industry and closure of unwanted company’s which are not having any significant business of its own.
Legally Yours,
Happy Consulting with www.lawlabz.com
For Private Circulation Only. The copyright of this notification is retained by Lawlabz. Notwithstanding anything contained herein, this notification does not amount to opinion or consultation of any nature. One Pager
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