Investments into the UK
Several Indian corporate and NRI groups are contemplating acquisitions of foreign companies, setting up new offices in the UK or Europe or even expanding their existing presence abroad. We can assist such companies and groups by identifying suitable targets for acquisition, performing financial due diligence on their behalf and, post-acquisition, helping to integrate the acquired companies into the group. We can also provide tax-structuring advice, assistance with regulatory and legal issues and in obtaining work visas for Indian staff to execute projects in the UK. We are accountants as well as OISC-approved immigration practitioners which enables us to offer “one-stop shop” services for India-based companies looking to set-up or expand in the UK.
Where a new office is required we can set up a UK subsidiary or branch office, handle the accounting, payroll and tax / regulatory compliance and even obtain the required visas if personnel need to be brought to the UK for work purposes. We have over 30 years experience in this area and have assisted many of the largest Indian companies, both listed and unlisted, in this regard.
India IT sector deep knowledge
Over the years we have assisted over 200 India based IT and software services companies to open and run their UK sales and marketing offices. Our principal Mr Raj Ganguly was invited by the late Mr Dewang Mehta, former Chairman of NASSCOM to speak at Financial Times “India IT conference” in London way back in 1995. Those were the early days of Indian IT presence in the UK! We have seen the surge for Y2K work during the mid to late ninetees, the “dot-com” bubble soon after with the demand for software engineers with HTML and networking systems skills, the shift to a more solid enterprise computing base, followed by data-mining, data-warehousing, financial services and a broader base of corporate “vertical” skills. There has been a progression from pure and simple “body-shopping” in the early days to “business consulting”, “business intelligence” and technical support types of roles. In terms of “delivery” there has been a shift from pure “one site” service provision to dual onsite / offshore (India IDC) and now to “near-shore” so that the service provider can be “near” to the customer, their clients and centres of core competence.
Case Study – India IT business wants to set-up a UK sales / marketing office
The India company must incorporate a branch or subsidiary in the UK and that entity must first apply for a Tier 2 Sponsor Licence in the Intra-Company Transfer (ICT) or General categories. Once the employer has received the licence, they can apply for Certificates of Sponsorship (CoS) to bring overseas personnel to the UK for work. Existing staff overseas can come under the fast-track “ICT” visa. New hires abroad or migrants already in the UK must apply under the Tier 2 “General” visa process which takes longer because a “local resident workers test” must be performed via advertising the post in the UK. Thereafter, the migrants can apply for entry clearance at the British Consulate in their relevant country of residence and come over. A minimum level of salary must be paid under both the ICT and General visa categories. There is a fast-track process for jobs under the “shortage occupation” categories which includes product design and development engineers in the automobile and aerospace engineering sectors.
RKG Consulting are licensed immigration practitioners as well as accountants. We can assist you with all the steps of the above process from incorporating a UK company, applying for a Sponsor Licence and obtaining work visas for migrant staff for commencement of UK projects on time. Thereafter, we can continue to support your UK entity in all UK regulatory compliance matters such as payroll preparation, VAT return, corporate tax and accounts filing.
Other industry sectors
Besides the IT sector over the last 30 years we have serviced the UK requirements of many of the top 30 BSE/NSE listed companies as well as large privately held unlisted groups in various sectors such as petrochemicals, commodity trading, exports, energy, telecommunications, manufacturing, automobile engineering, stock-broking, wealth management and financial services. We are familiar with workings of such sectors and can hit the ground running whenever a UK project needs to be executed quickly and efficiently.
Case study – India retail chain wishes to expand into the UK
A long established family jewellery business with outlets in Mumbai, Ahmedabad, Delhi, Jaipur, Kolkata and Bangalore wishes to expand into the UK and target the lucrative NRI market there. For this purpose the family has decided to send the second oldest son Sanjay to establish a UK company and settle in the UK with the purpose of expanding the business. Sanjay can apply under the Tier 1 Entreprenuer’s visa category by investing £200,000 in a new UK business and hiring 2 local persons. The application process takes 2 to 3 months and once successful Sanjay can bring his wife and children under 18 to live in the UK with him. Initially the visa is issued for 3 years and will be extended for a further 2 years. After 5 years residency in the UK Sanjay and his family will qualify for permanent residency (Indefinite Leave to Remain), and if they wish, can apply for British citizenship.
RKG Consulting can assist in setting up the UK business from scratch, obtaining the necessary visas in order for the Entrepreneur and their family to come over to the UK and then provide accounting and immigration support throughout as required.