Who should set up your India subsidiary? A comparison by provider type.
For most foreign companies entering India, a boutique India-entry advisory is the right fit once FEMA reporting and transfer pricing are in play: portals and generalist CA/CS firms handle the incorporation but miss the cross-border filings, while Big 4 is priced for larger groups. Here is the practical comparison — portal, local CA/CS firm, Big 4, or boutique — of who gets your entity structure, FEMA reporting, and transfer pricing right from day one.
Setting up an India subsidiary, branch office, or liaison office pulls in company secretaries, CAs, lawyers, and sometimes a "company formation" agency — all offering some version of "we'll set it up." Here's what each actually covers.
On this page
Four kinds of help, and what each is built for
The names are familiar — a formation portal, a local CA/CS firm, a Big 4 brand, a boutique advisory — but the four categories are built for different jobs. The comparison below is about what each is structured to do, not how good any individual provider is at it.
| Criterion | Company-formation agent/portal | Local CA/CS firm | Big 4 / large advisory | Boutique India-entry advisory (e.g. Advisory Monks) |
|---|---|---|---|---|
| Best for getting the structure right | ||||
| Advises on entity type (subsidiary vs. branch vs. LO vs. project office) before filing | No — files whatever structure you tell them | Sometimes, if asked | Yes, usually bundled into a larger market-entry engagement | Yes — this is the first decision, made before any filing starts |
| Transfer-pricing and parent-reporting setup from day one | No | Rarely proactive | Yes | Yes — set up before the first intercompany invoice, not after |
| Coordinates with your home-country counsel/accountant | No | Uncommon | Yes, through their own network, but not necessarily your chosen advisor | Yes, directly |
| Ongoing compliance calendar (ROC, FEMA/RBI reporting, tax), not just incorporation | No — one-time filing service | Sometimes, as a separate retainer | Yes | Yes, scoped into the engagement |
| Cost | Lowest | Low-mid | High | Mid |
| Best fit | You already know exactly what you want and just need the paperwork filed | Simple, low-complexity single entity with no cross-border reporting | Large multinational with existing global compliance infrastructure | A foreign company entering India for the first time, wanting the structure, FEMA reporting and TP position set up correctly from the start |
The honest gap
A formation agent will file what you tell them to file — if the entity type or transfer-pricing structure was wrong from day one, you find out in year two, usually at an inspection or an audit, not before. That's the gap pre-entry advisory is built to close.
What to ask before engaging anyone
Who's advising on structure vs. just filing it, whether FEMA/RBI reporting is included or billed separately, and who signs the transfer-pricing documentation. See the full checklist →
This note is general guidance, not tax or legal advice. Positions depend on your specific facts — speak with a partner before acting.