BUREAU OF ECONOMIC AND LEGAL AID (BELA)

BELA

A UNIT OF LEGALLANDS

BUREAU OF ECONOMIC AND LEGAL AID (BELA) is a business enterprise of LEGALLANDS, which aims to provide trade, commerce, legal, regulatory & compliance support to entrepreneurs for the market expansion with risk assessment and least regulatory & legal hassles of foreign land.

BELA provides a state-of-the-art platform for fostering economic growth by entering the shoes of entrepreneurs and leveraging the expertise of its trade, industry specific and legal & financial team expert having alliance partners across various nations all-over the globe.

The WORLD trade has opened its horizon and every nation believe in

वसुधैव कुटुम्बकम – Vasudhaiva Kutumbakam

ONE EARTH, ONE FAMILY, ONE FUTURE”

ELEMENT 1 – ENTRY STAGE EVOLUTIONS

BELA bifurcates the First Stage of into two categories:

  1. DUE DILIGENCE: The due diligence process in very vast and to cover all business-specific aspects BELA has categorised it as:
    • BUSINESS DUE DILIGENCE
    • LEGAL DUE DILIGENCE
    • FINANCIAL DUE DILIGENCE
  1. RISK ANALYSIS: BELA specializes in addressing the following risk to align its approach with the specific needs of the client’s business:
    • ECONOMIC RISK
    • POLITICAL RISK
    • STRUCTURAL ASSESSMENT
    • DEBT MANAGEMENT
    • COUNTRY RISK RATING

ELEMENT 2 –ENTITY FORMATION & STRUCTURING

The Second Element of BELA undertakes the requirements needed for Entity Formation and structuring such as:

  1. PRE-INCORPORATION COMPLIANCES: Business Objective Assessment, Country selection, Trade Name Selection, Company structure and determination, Pre-Setup permits and permission, Regulatory Adherence.
  2. COMPANY REGISTRATION: Including Setting up of a Joint Venture, Foreign Collaboration, New Entity, or a Wholly Owned Subsidiary, or a Branch Office or a Representative Office at Foreign Land.
  3. POST- INCORPORATION COMPLIANCES: Including Company name and seal/signature, Post-Setup permits and permission, Tax registration, Taxation law, company law and financial law

    compliances.

ELEMENT 3 – TRADE SPECIFIC PERMITS

Every business requires licenses and registrations to operate smoothly. BELA provides these licenses based on the specific requirements of the business or company you want to start.

The third Element herein divides these specific permits into four categories, which are:

  1. ENTRY LEVEL PERMITS: including Business License, Import- Export License, Environment and Safety Permits and others.
  2. INDUSTRY SPECIFIC PERMITS: Specialized License, health care related licenses, Education, Food & transport sector specific Licenses.
  3. COUNTRY SPECIFIC PERMITS: Including Taxation registration and Certificate.
  4. QUALITY ASSURANCE: Country Specific and Industry based Quality Assurance licenses including FSSAI, FDI etc.

ELEMENT 4 – ESTABLISHMENT SETUP, HUMAN RESOURCE & IMMIGRATION ASSISTANCE

The world revolves around human intervention and Human Resource is an integral part of the business environment.

BELA ensures the adequate compliance with the human factor of business by providing the following:

  1. COUNTRY SPECIFIC PROFESSIONAL HR FOR MARKETING, RESEARCH, REGULATORY & ASSURANCE SERVICE: This shall include providing Experienced working Professionals and Assistance with Recruitment through HR Agencies as required by the enterprise.
  1. ASSISTANCE WITH INTERNATIONAL EMPLOYEES: It shall include providing Immigration Services such as Work permits, Resident Permits, Entry Permits or Manpower placement including Logistic support.

ELEMENT 5 – CONTRACT CONVEYANCING, TECHNOLOGY TRANSFER, NETWORK SELECTION AND IPR PROTECTION

Every business needs to operate its functions by complying with all the legalities, and to smoothen the functioning one has to abide by the acceptance of the agreements and contracts with the parties

The Fifth Element of BELA undertakes the Contract Convencing element wherein BELA shall, depending upon the unique business needs provide for Contract drafts including:

  1. TRAGE AGREEMENTS
  2. BUSINESS AGREEMENTS
  3.  TECHNOLOGY AGREEMENT
  4. HUMAN RESOURCE & WORK AGREEMENTS
  5. CUSTOMER AGREEMENTS

ELEMENT 6 – DISTRIBUTION CHANNEL, WAREHOUSING & LOGISTICS

Expanding business overseas requires a robust Industry Distribution Channel along with efficient Warehousing and Logistic Support.

Element 6 elaborates some key services that BELA shall ensure under Sales and Distribution Management:

  1. DISTRIBUTION STRATERGY: Includes channel assessment and development, providing Distribution network, technology integration and others.
  2. WAREHOUSE FACILITY: Business specific storage solution, with warehousing design and optimization, cost analysis and taxation and others.
  3. LOGISTIC INFRASTRUCTURE: Including Infrastructure assessment and Site selection, Supply chain modelling and carrier management and much more.

ELEMENT 7 – BANKING & FINANCES, REGULATORY & AUDIT ASSURANCE, LITIGATION SUPPORT

Every business needs a proper and secure banking channels and mandatorily has to maintain the books of accounts to facilitate the day- to-day operations for a smooth working environment.

BELA ensures to comply with all the business specific Regulatory Compliances including:

  1. BANKING & FINANCE COMPLINACES: Includes Assistance in opening bank accounts, foreign exchange compliances, capital planning and more.
  2. REGULATORY AUDIT AND ASSURANCE: Such as Financial Statement Audits, Assurance Service and much moew.
  3. LITIGATION SUPPORT SERVICES: Such as Legal Audits, Dispute Resolution Mechanism and Country Specific Legal Strategy.
Element-1

ELEMENT 1: ENTRY STAGE EVOLUTIONS:

DUE DILIGENCE:

BELA, through a proper and detailed analysis of the market research, addresses the issues relating to Economic as well as Legal affairs that foremost covers the aspect of Due Diligence. By taking into consideration financial histories, company status, profit margins, and other crucial aspects, it ensures trustworthiness and reliability amongst the Joint Ventures, Collaborators, and Technology Transfer Partners on the foreign land.

BELA curate its services for each distinct business and assesses their requirements accordingly. Hence, providing a comprehensive report, outlining the optimal and the finest strategy for a successful business establishment.

The detailed report shall include:

  • Compliance: Ensuring adherence to applicable laws and regulations.
  • Regulatory Insights: Identifying violations or disciplinary actions.
  • Financial Analysis: Assessing financial statements, profit margins, and assets.
  • Assets Evaluation: Evaluating real assets, Intellectual Property, Brand Values, and more.
  • Taxation Assessment: Checking for unpaid taxes and liens.
  • Intangible Assets: Reputation, Goodwill and other intangible Assets.
  • Cross-Border Considerations: Addressing challenges such as Double taxation, Foreign Exchange fluctuations, Sovereign risk, and Cultural Aspects.

TYPES OF DUE DILIGENCE: BELA bifurcates the concept of due diligence into three categories, each serving a crucial role in evaluating your potential business ventures:

  1. BUSINESS DUE DILIGENCE: The business due diligence explicitly includes:
  • Operational Due Diligence: It focuses on assessing the operational aspects of the target company, including technology upgrades, process improvements, and financial impacts and aims to uncover the weaknesses and control deficiencies, as could be.
  • Strategic Due Diligence: It evaluates the strategic aspects of a proposed business initiative, considering value creation, competitive positioning, and commercial viability of your venture in the foreign markets, ensuring informed decision-making.
  • Technical Due Diligence: It encompasses Intellectual Property (IP) due diligence which evaluates the value and legitimacy of IP assets, and Technology due diligence, which assesses IT infrastructure and future technology needs.
  • Environmental Due Diligence: It analyses environmental risks and liabilities associated with a target organization, including historical context, site conditions, operations, and legal compliance.
  • Human Resource Due Diligence: It focuses on issues of individuals, such as personnel’s motivation and positive working environment, to ensure a smooth transition and maintain operating synergies.
  • Information Security Due Diligence: It evaluates information security and digital confidentiality risks during IT procurement to uncover potential cyber-security vulnerabilities of your business operations.
  • Ethical Due Diligence: It measures the ethical character of a company and identifies risks related to its’ reputation, governance, and helps the organization in assessing ethical viability of their prospective collaborators.
  1. LEGAL DUE DILIGENCE:

BELA takes immense pride in its dedicated team of legal experts who excel in navigating the international trade. Their expertise extends across a wide spectrum, covering liabilities, regulatory compliance, and the meticulous identification of potential legal challenges.

The realm of Legal Due Diligence includes:

  • Exhaustive Regulatory Checklists
  • Direct And Insightful Interactions with Key Personnel
  • Document Verification
  • Review of Licensing and other Compliance Prerequisites
  • Global Dispute Resolution Techniques
  • And other critical facets.

With BELA by side, one can be assured of a positive and seamless experience in international trade, as our team's expertise ensures that all legal aspects are addressed properly, facilitating smooth and compliant international business transactions.

  • FINANCIAL DUE DILIGENCE: BELA offers a comprehensive suite of Financial Due Diligence services. Within this domain it shall conduct an exhaustive analysis that encompasses the financial, commercial, operational, and strategical assumptions relating to business transactions within the target country.

The scope of Financial Due Diligence includes:

  • examination of accounting policies, internal audit procedures,
  • the sustainability of earnings and cash flow,
  • the condition and valuation of assets,
  • the identification of potential liabilities,
  • the implications of taxation,
  • the reliability of information systems,
  • and the effectiveness of internal control systems.

Each facet of this assessment is tailored to align seamlessly with the specific needs and preferences of our valued client businesses. BELA’s tax due diligence services delve into tax planning and compliances, identification of potential contingencies, transfer pricing.

BELA is an exhaustive due diligence service provider offering high quality assessments which allow businesses to gain invaluable insights into potential investments, and ensures that every facet is thoroughly scrutinized, leading to an informed decision-making.

RISK ANALYSIS SERVICES:

Establishment of a business in a foreign country requires a thorough assessment of associated business risks. BELA specializes in addressing these risks and tailors its analysis to align with the specific needs of the client’s business, dynamics of the foreign market, and the demands of the product landscape.

The types of risk assessments are detailed in the following sections:

Types of Risk Assessments by BELA:

  1. Economic Risk in International Trade: Evaluating economic data from countries, considering indicators such as banking sector stability, GDP projections, debt-to-GDP ratio, unemployment rates, and currency stability to assess economic risks.
  2. Political Risk: Assessing factors like government stability, transparency, terrorism threats, regulatory landscapes, workforce freedom, government support, immigration laws, and attitudes towards foreign investment.
  3. Structural Assessment: Examining demographics, physical and social infrastructure, labour force availability, competitive landscape, treaties, export/import regulations, and co-production opportunities.
  4. Debt Management: Monitoring indicators like total debt-to-GNP ratio, debt service to exports ratio, and current account balance to GNP ratio helps us understand the impact of government debt on business.
  5. Country Risk Ratings: Assessing risk ratings based on various factors to gauge the level of risk associated with doing business in a specific country.
  6. Importance of Mitigating Country Risk: Emphasizing the consequences of neglecting country risk, including potential losses, business failures, legal issues, and damage to reputation.

FIVE-STAGE RISK ASSESSMENT PROCESS: BELA undergoes a five-stage risk assessment process as per the unique needs of each business. These stages include:

STEP 1: Mapping Cargo Flow and Identifying Partners: Interpreting all the parties to the supply chain and goods transportation components.

STEP 2: Conducting a Threat Assessment: Assessing risks associated with the supply chain considering country specific illegal acts.

STEP 3: Conducting a Vulnerability Assessment: Examining processes of supply chain, compliance with C-TPAT (Customs-Trade Partnership against Terrorism) criteria and assessing vulnerabilities.

STEP 4: Preparing an Action Plan: Curating a detailed plan to address Strength, Weaknesses, Opportunities and Threats (SWOT).

STEP 5: Risk Assessment Process: Documenting the Risk Assessment Process wherein all the relevant Control, Inherent Risks associated with the business are managed.

Element-2

 STAGE 2: ENTITY FORMATION AND STRUCTURING - BELA offers the concept of ease of doing business anywhere in the world by operationalising a Branch office, Liaison office, Representative Office or an all together a newly established entity.

  1. PRE - INCORPORATION:
  • Business Objectives Assessment: Conducting an in-depth research and analysis to evaluate the feasibility of a business in the foreign market.
  • Trade Name Selection: Suggesting a unique trade name that suitable as per the business activities.
  • Permits and Permissions: Facilitating permissions, registrations and licenses as per the relevant state acts.
  • Name Seals/Signatures: Our team further undertakes the crucial identification requirement of registering personal name seals or signatures for company and its key personnel. These are primarily required at various levels before and after a company is formed for its operations.
  1. COMPANY REGISTRATION:
  • Establishment of a New Entity: BELA assists in forming a new entity in the foreign land providing diversified experience to the local businesses.
  • Establishment of Wholly Owned Subsidiary Company: BELA ensures compliance of a seamless formation of the subsidiary company that serves as a foreign representative of the main business.
  • Establishment of Branch Office: BELA provides assistance for incorporating a branch of the business entreprise including the preparation of affidavits, certification by the concerned country's Embassy, and notary certifications, among other necessary requirements.
  • Establishment of Representative Office: BELA assists in setting up a representative office and navigates the compliance landscape to make this transition smooth and hassle-free.
  1. POST INCORPORATION:

Post incorporation requisites will include:

  1. Company Name and Seal/signature
  2. Post Setup permits and permissions
  • Tax Registration
  1. Taxation Law, Company Law and Financial Law Compliances
Element-3

STAGE 3: TRADE SPECIFIC PERMITS:

Every business requires licenses and registrations for its smooth functioning which could be tax registrations, food licensing, drug licensing, transportation, and many more diversified sectors. Thus, securing the necessary licenses and permits for conducting business in a foreign jurisdiction is a critical step. Each country has its own intricate regulations governing various trade categories, entering a new jurisdiction mandates the valid registrations.

 

BELA undertakes the need of the licenses and permits at foreign lands and undergoes a deep strategic study to understand the following requirements:

  1. Compliance Requirement: Government authorities require businesses to obtain licenses and permits to collect revenue, manage business locations, and impose specific regulations in various areas. Such as Business Licenses
  2. Evidence of Credibility: Licensing provides proof of a business's lawful identity and credibility, instilling confidence in customers and helping to avoid fraud and legal issues. Such as ISO Registrations
  3. Sector-Specific Approval: Certain types of businesses are subject to specific regulations that dictate the sectors in which they can operate. Such as Healthcare, Transportation, Education, Import & Export of Goods and Services, and many more.

 

Licenses and permits are generally categorized based on factors like industry, occupation, products, business operations, location, and other criteria. BELA shall assist in obtaining all sorts of license required for an effective functioning of business, including:

  1. Entry level Permits: Business License, Import- Export licence, safety permits, Environment and safety permits.
  2. Industry-Specific Licenses and Permits: Specialized License, health care related licenses, Education, Food & transport sector specific Licenses.
  3. Country specific permits: Including Taxation registration and Certificates
  4. Quality Assurance permits: Country Specific and Industry based Quality Assurance licenses including FSSAI, FDI etc.

 

 

Element-4

STAGE 4: HUMAN RESOURCE AND IMMIGRATION ASSISTANCE:

The world revolves around human intervention and Human Resource is an integral part of the business environment. BELA ensures the adequate compliance with the human factor of business by providing the following:

 

COUNTRY SPECIFIC PROFESSIONAL HR FOR MARKETING, RESEARCH, REGULATORY & ASSURANCE SERVICE:

  • Hiring and Employment Rules & Regulations
  • Customary and regulatory policies for both local and overseas employee recruitment.
  • Compensation structures and practices.
  • Employment contract prerequisites.
  • Consideration of union establishment, if necessary.
  • Adherence to Country specific Labour and Industrial Laws

 

ASSISTANCE WITH INTERNATIONAL EMPLOYEES: It shall include providing Immigration Services such as Work permits, Resident Permits, Entry Permits etc. or Manpower placement including Logistic support.

 

 

 

 

 

Element-5

STEP 5: CONTRACT CONVENCING, TECHNOLOGY TRANSFER& NETWORK SELECTION AND IPR PROTECTION:

Every business needs to operate its functions by complying with all the legalities, and to smoothen the functioning one has to abide by the acceptance of the agreements and contracts with the parties. BELA provides multifaceted services that encompass both the legal and economic dimensions of establishing a business overseas.

  1. CONTRACT CONVENCING: Assistance in drafting, vetting and finalisation of a well-structured contract is an essential proactive measure, an entity must follow, prior to entering into any national or international trade or operations. Contracts can be broadly categorised into various sectors such as:
  • Human Resource Agreement
  • Trade Agreement
  • Daily Business Agreement
  • Real Estate Agreement
  • Other Legal Agreements.
  1. TECHNOLOGY TRANSFERS & NETWORK SELECTION: In today's dynamic trade landscape, Technology Transfer has emerged as a common practice, but it is far from simple. Technology refers to “the medium of transforming an idea into reality”, it entails the application of knowledge to reach specific goals in the most efficient and reproducible manner. BELA expressly provides services in facilitating transfer of technology from one nation to another by managing the contracts, taxation and regulatory compliances.
  1. IPR PROTECTION: Intellectual property (IP) is a company's most valuable asset. BELA assists in safeguarding the business designs and implement the IPR strategy.
  • Trademark, Copyright and Patent registration and prosecution
  • Licensing and assignment
  • Contract negotiations and drafting
  • Enforcement
  • Dispute Resolution
Element-6

STEP 6: SALES AND DISTRIBUTION MANAGEMENT:

Expanding business overseas requires a robust Industry Distribution Channel along with efficient Warehousing and Logistic Support.

Here are the key considerations:

 

  1. Distribution Strategy:
    • Channel Assessment and Development
    • Distribution network design
    • Channel Partner Evaluation
    • Inventory management
    • Logistics and Transportation
    • Technology integration
    • Compliance and Regulations

 

  1. Warehousing Facilities:
    • Warehousing Design and Optimisation
    • Warehousing Automation
    • Storage Solutions
    • Safety and compliance
    • Cost Analysis and taxation

 

  1. Logistics Infrastructure:
  • Infrastructure Assessment & Site Selection
  • Transportation Network Optimization
  • Supply Chain Modelling and Carrier Management
  • Sustainability Initiatives
  • Infrastructure Investment Planning

 

Element-7

STEP 7: BANKING and FINANCE, COMPLINACES and REGULATORY, ACCOUNTING & ASSURANCE SERVICES:

Every business needs a proper and secure banking channels and mandatorily has to maintain the books of accounts to facilitate the day-to-day operations for a smooth working environment. In order to have a compliant regulatory framework and business operations, an entity must have a current bank account along with proper bookkeeping, accounting tools and assurance services.

  1. Banking and Finance:
  • Assistance in opening current account with reputed banks of the nation.
  • Foreign Exchange Management
  • Capital Planning, Adequacy & Allocation
  • Financial Modelling and Analysis
  • Credit Risk Management
  • Cash Flow Management
  1. Compliances and Regulatory Matters:
  • Compliance with relevant Regulations
  • Taxation Compliance Audit & Assessment
  • Anti-Money Laundering and KYC Compliance
  • Operational and Cybersecurity Compliance
  • International Regulatory Compliance
  1. Accounting and Assurance Services:
  • Financial Statement Audits
  • Financial Reporting and Assurance
  • Tax Planning
  • Asset & Liability Management
  • Forensic Accounting and Investigations
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YOU ARE WELCOME!

We, the LegalLands LLP , are a family of exceptional professionals with expertise in the fields of law, taxation, business administration, consultation services, etc. We understand your problems and work to the best of our abilities, tailoring our knowledge and expertise to your specific interests and needs, to arrive at the best suitable solutions to your problems. Our aims are to cater to your needs rather than viewing these needs as opportunities to enrich ourselves at your cost!
LegalLands LLP, and its team of professionals over a very short span of time, have amassed a huge plethora of achievements, knowledge base, expertise, and client base that stands second to none in the varied fields in which we offer our professional services. We thank all those who were part of our journey and progress through these years and we especially thank our client base for their continuous and unwavering faith in us.
We look forward to many more engagements with you which keep adding value to your lives.
Together and onwards we march on toward new milestones in our illustrious journey.

RAJIV TULI

Managing Partner

Legallands LLP