How to Withdraw from a Partnership in India
Starting a new business with a partner is exciting, isn’t it? But, as seen at times, things do not always quite go as expected. Any of the partners, voluntaril ...
Ship Leasing Registration & compliances
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For Shipping Companies:
- Operate with lower costs due to reduced taxes and other regulatory expenses.
- Improved cash flow management
- Gain access to global markets and opportunities in the maritime industry.
- Access to the latest vessel technology
- Risk mitigation through fixed rental payments
For Lessors:
- Stable income stream from long-term lease contracts
- Diversification of asset portfolio
- Potential for capital appreciation
- Legal Form: The entity must be a company incorporated in India or an overseas entity with a presence in India.
- Financial Standing: The entity must have a sound financial position and demonstrate the ability to fulfill lease obligations.
- Industry Experience: The entity must have relevant experience in the shipping industry or possess expertise in ship leasing.
- Form a company or limited liability partnership (LLP) in the IFSC where you intend to establish your ship leasing business.
- Apply for registration with the IFSCA as a Finance Company or Finance Unit under the IFSCA (Finance Company) Regulations, 2021.
- Prepare a comprehensive business plan that outlines your target market, leasing strategies, risk management framework, and financial projections.
- Adhere to all applicable regulatory requirements, including prudential norms, reporting obligations, and anti-money laundering (AML) regulations.
- Build relationships with shipyards and shipping companies to source ships for leasing.
- Arrange for funding to finance your ship leasing operations.
- Secure any required licenses and approvals from the IFSCA and other relevant authorities.
- Start leasing ships to shipping companies or other qualified lessees.
- Help you to review lease agreements to identify potential issues, inconsistencies, or unfair terms that may be grounds for a complaint.
- Analyze financial documents, such as lease schedules, invoices, and payment records, to gather evidence of non-compliance or financial losses incurred by the lessee.
- Assist lessees in preparing comprehensive and well-structured complaint submissions to the IFSCA, clearly outlining the grievances, supporting evidence, and the relief sought.
- Represent lessees in IFSCA proceedings, providing expert guidance and advocacy throughout the complaint resolution process.
Mr. Manish is highly professional. We get the best service and advice. Very punctual and dedicated team, always stays upfront in informing anything to avoid obligations. Thank you so much.
Raman Shukla
COO at VSERV Infosystems & Founder VSERV Academy
Mr. Manish Mishra's team provided invaluable guidance and expertise in Fintech and NBFC advisory, helping us navigate complex financial regulations and achieve remarkable growth in our business. Their insights are truly a game-changer.
Abhishek M R
Managing Director AMR FINANCE PVT LTD
Mr. Manish, as our Virtual CFO, has been instrumental in propelling our business to spontaneous growth. His expert guidance and strategic insights have transformed our financial landscape, paving the way for remarkable success.
Ajay Kumar
Founder & CEO - Eagabriz Shipping Pvt Ltd
A wide range of ships, including cargo ships, container ships, tankers, and offshore vessels, are eligible for leasing under the IFSCA framework.
Ship leasing transactions are subject to various taxes, including corporate income tax, GST, and withholding taxes. Our CA firm can provide expert guidance on tax planning and compliance.
Ship maintenance and repair must be carried out by authorized service providers and in accordance with applicable maritime safety regulations.
Our CA firm can assist in developing risk management strategies, conducting due diligence on ships and lessees, and monitoring lease performance.
The ship leasing industry in India is poised for significant growth, driven by the increasing demand for maritime transportation and the government’s focus on infrastructure development.
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