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Start your own Business
General Guidelines
Incorporating your Business Venture
Would you like to start a business venture in Kerala? Let your
innovative ideas take you to the upper echelons of success. Set up new
business ventures in Kerala with easy steps and start dreaming big.
A business unit can be formed as Proprietary Concern, Partnership
Firm, Private Limited Company or Public Limited Company. Most ventures
with foreign participation are either Private Limited or Public Limited
Companies. A Private Limited Company will have at least two and a
maximum of 50 shareholders and a minimum of two directors. A Public
Limited Company is required to have a minimum of seven shareholders and
three directors -there is no limit on the maximum number of
shareholders. The documents and procedures for incorporating a Public or
Private Limited Company - Memorandum of Association, Articles of
Association, Prospectus etc - are taken care of by accounting firms.
The Kerala State Industrial Development Corporation (KSIDC) will also
provide comprehensive support for investors who are planning projects in
Kerala. The process of incorporation will take less than four weeks.
Ownership of your Company
The new liberalized policies enhance the success of your business.
With upto 100% direct foreign ownership is permitted, subject to certain
conditions. Ownership of a company is through the holding of its
equity. Management is controlled through directors, elected on simple
majority.
If the company chooses to have a broad-based equity distribution, it
can achieve this through a Public Issue. The management of the company
can be controlled with low equity shares provided the rest is widely
disbursed. The shares could be offered to the general public through the
Stock Exchange.
How to set up your Project
Procedures for setting up a project in India have been thoroughly
streamlined. Once a project is formulated Kerala State Industrial
Development Corporation (KSIDC) will act as your nodal agency in India
to help obtain all clearances from the Government of India and the
Government of Kerala within the shortest possible time. All clearances
can be obtained within 45 - 60 days.
Industrial Licenses are now required only if the article to be
manufactured is included in the list of industries which are subject to
compulsory licensing (15 industries) or the project is located within 25
kms of the standard urban area limits of a city having a population
exceeding one million. Six industries are reserved for the public sector
and a certain number of low technology, low value items are reserved
for the small scale sector. Those requiring licenses have to apply in
Form IL to the Secretariat for Industrial Approvals (SIA), Ministry of
Industry, Government of India, New Delhi. Approvals are normally
available within 6 to 8 weeks.
Clearances Required
Before Construction of Building
The following clearances are necessary to be obtained prior to construction of building for the proposed business activity:
- Permission of Local Body (Panchayat/ Municipality)
- Development Authority (Trivandrum / Kollam / Kochi / Kottayam / Kozhikode / Idukki / Palakkad / Thrissur)
- Initial Clearance from the Directorate of Factories & Boilers
- No Objection Certificate (NOC) from Kerala State Pollution Control Board
- Power allocation from Kerala State Electricity Board (KSEB)
Before Commencement of Production
The following clearances are necessary to be obtained prior to the
commencement of production from the proposed business activity:
- License from the Local Body
- Factory License issued by the Director of Factories & Boilers
- Consent from Member Secretary of Kerala State Pollution Control Board
- Clearances from Electrical Inspectorate:
- Approval of Electrical Drawings
- Final Approval
- Power connection by KSEB
- Clearance from Kerala Water Authority
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