Starting a Freelancing Business – Company

17 By On January 29, 2011 In General With 10 Comments Permanent Link to Starting a Freelancing Business – CompanyPermalink

Some Quick tips you need to remember, when you start a freelancing business or company:

  1. Fix a Business Name & get a trademark (Cost Rs. 5,500)
  2. Create Rubber stamps with the above name.
  3. Get a Gumasta (shop license on the address of your house) (Less than Rs. 2,500)
  4. Using the above document, create a current bank account with either ICICI / HDFC (Minimum balance of Rs. 10,000)
  5. Register for Import Export Code (method http://apac.globalthoughtz.com/index.php/how-to-obtain-iec-for-paypal-withdrawal-in-india/ )

And finally from 1st march, if you wish to accept money from your clients using PayPal, then make sure you tell your clients not to pay you more than $500 at a time. And if you ever are going to be paid under $50 by a client, make sure you receive atleast enough payments same week to reach more than $120 so while withdrawing to bank, there are no charges)

  • http://www.eguruindia.com abhishek

    great post with useful information…..thanks

  • http://www.narendrakeshkar.com/blog Narendra

    Truly helpful information mate, I’ve withdrawn all funds from paypal last night to avoid any such problem. Soon will register trademark.

  • Deepali

    Hi. The info is very useful, i was trying to take the Gumasta licence on my residence, however the agent told me it will cost around 30-40k. is it so expensive. As per your info its only 2.5k…plz advice. Thanks and Best Regrds

    • http://www.harishchouhan.com Harish

      @Deepali
      That is crazy. The cost of the actual license is not more than Rs. 1,400. There is also some additional Rs. 1,000 required for not sure what reason. Its sometimes actually just under Rs. 1,500. Its a headache to do it yourself, but if that is what the agent is charging, it would be better you do it yourself.
      The list of documents needed for it are:

      1. Your Identity proof
      2. If you own your flat, then a copy of your latest paid society maintenance receipt or latest electricity bills or best would be some ownership papers
      3. If you do not own the flat, then a no objection letter from the one who owns the residence

      That’s pretty much it. BTW, which city are you from?

  • http://behance.net/Debashis Debashis Nayak

    Really informative, Harish !

    • http://www.harishchouhan.com Harish

      Thanks Debashis

  • http://howtostartabusiness.abusiness.ca/ Harold Strong

    Harish interesting post, learned something, will visit your blog again, thank you for sharing this information

    • http://www.harishchouhan.com Harish

      @Harold I am glad you found it helpful.

  • Preeti

    Hey Harish,

    I wanted to register my freelancing company. I am a fashion designer and have also chosen my brand name. Somebody told me that to register my company name and to get trademark done, I would need an office space. And frankly speaking I can not afford that right now. Can you pls provide me with the right info and if you could pls educate me how and from where I can get my company registered.I did call you but your no. was on voice mail, I have left a voice msg.

    Thanks

    Regards,
    Preeti

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