A Business Setup Consultancy refers to a professional service provided by experts who assist individuals
or organisations in establishing and structuring their businesses efficiently.
These consultants possess in-depth knowledge of the legal, financial, and operational aspects of starting a business and guide clients through the process of selecting an appropriate business structure, obtaining licenses and permits, fulfilling regulatory requirements, and developing effective strategies for successful establishment.
Their expertise and advice enable clients to navigate the complexities of business setup, minimise risks, and optimise their chances of achieving sustainable growth and profitability. The business activities that fall under Business Setup Consultancy are –
1. Administrative services for
businessmen (8211.09):
This involves providing comprehensive administrative support and services to businesses and entrepreneurs. These services encompass a range of tasks aimed at facilitating the smooth operation and management of business activities.
These services are tailored to meet the specific needs and requirements of clients, helping them streamline their administrative processes and free up time to focus on core business operations.
The classification of this business activity under Business Setup Consultancy can be attributed to the fact that administrative services play a vital role in assisting individuals or companies during the establishment and initial phases of their businesses.
By providing guidance and support in administrative areas, such as legal compliance, registration processes, licensing, and financial feasibility analysis, these services contribute to the overall process of setting up a business.
- Third-party Approval: No third-party approvals are required for this business activity
- Filing of Economic Substance Return: Business activity 8211.09 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 8211.09 is exempt from this requirement.
3.Corporate services provider (8211.11):
This involves offering administrative, legal, financial, and operational services to corporations. These services support day-to-day operations and ensure compliance.
It falls under Business Setup Consultancy because it assists in setting up and structuring businesses, providing guidance in legal compliance, registration, and licensing.
By offering comprehensive corporate services, including business setup assistance, these providers play a vital role in helping entrepreneurs establish their businesses and ensure smooth operations
- Third-party Approval: No third-party approvals are required for this business activity
- Filing of Economic Substance Return: Business activity 8211.09 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 8211.09 is exempt from this requirement.
