SEZ Compliance Services

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SEZs (Special Economic Zones) are duty-free spaces where enterprises which gets recognition as SEZ units operate business in a more liberal environment. Entities within SEZs are offered assistance through foreign contributions without much government interference.

SEZ within notified geographical region operate business  with more liberty with respect to economic laws, tax laws, commercial laws, corporate laws, including limited or no tariff implications from Central or State Government. The basic goal behind setup of these zones is the flourishment of Indian enterprises with foreign investments without hassles of different legislations and the exemption from mandatory compliances.

However, SEZs in India are treated as foreign territories in Indian legislations which impose taxes and tariffs for transactions between domestic businesses and SEZ Units.

Forming SEZ or Registering as SEZ Unit in India

A SEZ in India can be established by complying to the rules and regulations of the Special Economic Zone Act, 2005. It can either be jointly or severally formed within the customs boundariesas notified by the Central Government, State Government, any individual (including private or public limited company, proprietorship or partnership ) or by any foreign company in India.

A SEZ in India can be formed for any of the following purposes.

  • Manufacturing or rendering of Goods or Services;
  • Establishing a Free Trade Zone;
  • Serving as a Warehousing Sector;
  • Export of Goods or Services;
  • Serving Goods or Services to other SEZs;
  • Offshore banking

Each SEZ can establish and operate in association with government-owned, privately owned enterprises or can be wholly managed by group of private companies or government entities together.

For registering as a SEZ unit, an application to the concerned jurisdiction Development Commissioner is to be submitted. Each such application shall be reviewed by State Approval Committee. Based on such recommendation, the Development Commissioner may approve or reject such application.

Why Register a SEZ Unit in India?

SEZ units are entitled for multi – incentives and policy benefits from government. Besides, the common benefits announced for SEZs through legislations they receive consistent performance benefits at different intervals also.

Some earmarked incentives for SEZ units include:

  • Tax Exemptions (Income Tax, GST etc);
  • Exemption from State or Central Tariff Authority (Export duties, Custom Charges, etc);
  • Duty Drawbacks and Developer Schemes;
  • Foreign Direct Investment (FDI) Approvals;
  • Licence Approvals;
  • Land Acquisition Approvals and State Permission;
  • Easy approvals for Banking, Insurance and Commercial borrowings;
  • Budget Benefits, Subsidies, and Special Finance Schemes.

What you get in SEZ Compliance Services from MN & Associates?

Envisaged by government benefits and schemes for SEZs, enterprises those opting ‘to become a SEZ member or requiring to form a SEZ in India have to undergo multiple Central and State Approvals by sufficing statements, declarations, and a list of documents.

We at MN & Associates, have offer a composite SEZ Compliance Service package in which you get assistance that include but do not limit to:

  • SEZ Formation in India;
  • Registration, closure, merger, de-merger and other arrangement of SEZ/SEZ Units;
  • Ministerial, Central and State Approvals;
  • Drafting and filing of documents, declarations, trade agreements, project reports, etc;
  • Tax return filing and alliedcompliance;
  • FDI/RBI/FEMA compliance;
  • Land, plant or project approvals, etc;
  • Licensing and legal registrations;
  • Arbitration / Litigation services;
  • Export/Import legislations;
  • Corporate compliance and much more.

    • Advice on all the statutory compliances with regard to the provisions of The Companies Act, 2013 and all other previous laws.
    • Secretarial Audit: Providing Complete Audit of Secretarial & Statutory Records with suggestion to rectify the shortcoming and discrepancies observed in the Audit process.
    • Assistance in drafting and vetting of an array of agreements and commercial contracts
    • Expertise in drafting agreements for various Public Sector Undertakings, Real Estate and Construction companies, Telecom companies, Retail sector and various other private and multinational companies
    • Liaison with the relevant offices of the Ministry of Company Affairs, National Company Law Tribunal, National Company Law Appellant Tribunal and other authorities concerned, in respect of various matters pertaining to the affairs of the company
  • Incorporation of all kinds of Companies
  • Annual Filling
  • Various alterations in Company Structure
  • Closure of Companies
  • Secretarial Audit
  • Reconstruction of Companies.
  • Corporate Governance
  • Insolvency and Bankruptcy
  • Regulatory Approvals
  • Legal Due Diligence
  • Joint Ventures, Mergers, Amalgamations and Acquisitions
  • Compliance under Foreign Exchange Laws
  • Intellectual Property Rights: Trademarks, Patents and Copyrights
  • Compliance Management Services
  • Services to NGOs
  • Filing of Balance Sheet in XBRL mode.
  • Obtaining clearances and Approvals from Statutory Authorities and Liasioning with Ministry of Company Affairs, Director General of Foreign Trade for matters relating to Compounding of Offences, Condonation of Delay, Obtaining of IEC Number etc.
    • Compliances of all Listed Compliances

  • Due diligence and feasibility analysis of probable collaborators.
  • Searching the best possible technology and financial partners
  • Drafting of joint venture, technology transfer, collaboration, trade mark license agreements
  • Obtaining necessary approvals from all concerned authorities

  • Amalgamation, mergers, de-mergers and reverse mergers.
  • Acquisitions & takeovers.
  • Reorganization of capital.
  • Valuation of assets and determination of exchange ratios.
  • Liaison and coordination and obtaining approvals.

  • Advice on Foreign Direct Investment in India.
  • Setting up of a business unit in India like a Wholly Owned Subsidiary, Branch Office, Liaison Office.
  • Preparation of business plan/project report.
  • Tax planning with respect to setting up a business in India.
  • Advisory services on pre and post set up compliance with the regulatory and legal framework.

  • IPO, FPO, Preferential Allotment
  • Bonus Issue, Right Issue
  • American Depository Receipt (ADR) / Global Depository Receipt (GDR) Issues
  • Loan Syndication from banks/financial institutions
  • Drafting and vetting of legal papers/prospectus/memorandum of understanding/agreements
  • Liaison and coordination with various regulatory authorities such as SEBI, local stock exchanges, registrar of companies and merchant bankers
  • Carrying out due diligence as a risk containment measure

  • Registration of an NGO with the Registrar of Companies, Registrar of Societies or with the Registrar of Assurances as the case may be
  • Filing of returns, reports and other necessary documents from time to time as per the provisions of the governing statute
  • Drafting of Memorandum and Articles of Association, Memorandum and Rules and Regulations and Trust Deed of a Company, Society and Trust respectively
  • Obtaining necessary approval from the Central Government and complying with all secretarial and other legal compliances

  • Formulating and implementing the Code of Conduct and Whistle Blower Policy
  • Developing risk management framework, its reporting and implementation
  • Formulating, strengthening and implementing internal control measures
  • Ensuring legal compliance with respect to the applicable laws and regulations

  • Matters relating to Insolvency and Liquidation of Companies and LLPs
  • Matters relating to Insolvency and Bankruptcy of Individuals and Firms
  • Representation before National Company Law Tribunal, Debt Recovery Tribunal and other authorities concerned in matters related to insolvency, voluntary liquidation, bankruptcy and winding up