Some Quick tips you need to remember, when you start a freelancing business or company:
- Fix a Business Name & get a trademark (Cost Rs. 5,500)
- Create Rubber stamps with the above name.
- Get a Gumasta (shop license on the address of your house) (Less than Rs. 2,500)
- Using the above document, create a current bank account with either ICICI / HDFC (Minimum balance of Rs. 10,000)
- 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)29