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profiletvm · 4 years ago

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LIMITED LIABILITY PARTNERSHIP REGISTRATION

Home Page Startup Rs 6,500/- Name Reservation LLP Registration 2 Digital Signatures 2 Director Identification Numbers Agreement GET Startup plus Rs 8,750/- Name Reservation LLP Registration Stamp duty 2 Digital Signatures 2 Director Identification Numbers Agreement PAN GST registration Bank Account Opening Support GET

Frequently Asked Questions

What are the steps to register an LLP in India? Obtain DSC (Digital Signature Certificate)Apply for DIN (Director Identification Number)Reserve your unique NameFile LLP registration application formPAN and TAN ApplicationFile LLP Agreement within 30 days from Registration How much time will take to register an LLP ? We Biswas Filing Service, will register an LLP and Complete all procedures within 10 – 15 working days after receipt of all documents What are the documents required for LLp Registration? PAN of allPassport / VotersID/ Driving License of allLatest Bank Statement of AllFor Registered OfficeBuilding Tax ReceiptLatest KSEB Bill of Registered Office What is DSC ? DSC stands for Digital Signature certificate. DSC is the digital equivalence of physical Signatures. It is needed to file the eforms to Ministry of Corporate Affairs. For the purpose of Company Registration of a private company, DSC for all the Directors are required. What is the Validity of LLP Registration Certificate. ? The registration certificate or incorporation certificate has a lifetime validity. There is no need of any renewal of Registration. Certificate issued by Ministry of Corporate Affairs under Government of India is valid all over the world How do I check whether my LLP is registered or not ? Go to the MCA website.Go to ‘MCA Services’ tab.In the drop-down click on ‘View Company/LLP Master Data’.Enter the companies CIN.Enter the captcha code. Click on ‘Submit’.Now you will be able to view the exact status of your registration process. What are the benefits of an LLP formation in India. ? It protects you from personal liability for business risks and losses.Makes you look serious and attracts more customers.Creates better image and credibility in the market.Easier to get bank credit and investment from investors.Creates faith in employees and easy to attract talented manpower.It is very convenient to exit or sell the business, due to less documentation and cost.LLP is a mix of Conventional Partnership and a Limited Company. It is a mix of benefits of both types of entities. Whether we receive any documents physically from Government after Registration.? No., We will not receive any documents physically. Some publishers are taking new Company’s data and sending to the registered address of the Company as VPP. Please Contact your Client Cordinator at Biswas Filing Service for guidance

Benefits of Limited Liability Partnership Registration

All the benefits of a Limited Company The Limited Liability Partnership (LLP) have all the benefits of a Private Limited Company, along with the possibility of unlimited members.Coversion of Business is possible A firm, Private Limited Company or an unlisted public Private Limited Company can be converted into Limited Liability Partnership (LLP). Limited LiabilityUnlike Partnership, no partner their personal properties are liable on account of the independent or unauthorized action of other partners or for their misconduct.Less compliance costsCompare to Private Limited Company, the Complaince Cost is very low. Upto a certain limit of Share Capital and Turnover, no audits are requiredUnlimited Number of PartnersCompare to Private Limited Company or Partnership, the greatest feature of a limited liability partnership is that there is no limit on the number of partners.LLP Agreement Governs The mutual rights and duties of the partners of an Limited Liability Partnership (LLP) are governed by Limited Liability Partnership (LLP) Agreement. A limited liability partnership firm is governed under which law? The formation and regulation of limited liability partnerships is governed by Limited Liability Partnership Act, 2008 and the rules made thereunder i.e. Limited Liability Partnership Rules, 2009 Whether provisions of the Indian Partnership Act, 1932 would be applicable to LLPs ? As per Section 4 of the Act, save as otherwise provided, the provisions of the Indian Partnership Act 1932 shall not apply to a limited liability partnership. What is the basic difference between a Limited Liability Partnership and a General Partnership ? A Limited Liability Partnership is a legal entity separate from its partners and therefore, offers limited liability to its partners whereby any debts and obligations of the LLP will be borne by the assets of the LLP. In the case of a conventional partnership, the partners are jointly and severally liable for each debt and obligation of the partnership firm. Who can be a partner of a limited liability partnership ? As per clause (q) Section 2(1) of the Act, a partner”, in relation to a limited liability partnership, means any person who becomes a partner in the limited liability partnership in accordance with the limited liability partnership agreement. As per Section 5 of the Limited Liability Partnership Act, 2008, any individual or body corporate can be a partner in a limited liability partnership. Whether a trust or a trustee can become a partner in a LLP ? General Circular No. 37/2014, dated 14th October, 2014, clarified that the trustee being a body corporate and representing a trust in case of “Real Estate Investment Trust” (REIT) or “Infrastructure Investment Trust” (InvITs) or such other trusts set up under the regulations prescribed under the Securities & Exchange Board of India Act, 1992, is not barred to hold artnership in a LLP in its name without the addition of the statement that it is a trustee.

Thinks to Know before starting a LLP

Documents for Registration of an LLPDetails of documents required for registering an LLP in IndiaStatutory compliances after LLP registrationIn the LLP Act 2008, several statutory complainces are mentioned, to run an LLP. The non complaince of the provisons may lead to heavy penaltiesTrademark Registration – A brief noteTrademark registration provides us a better protection to our brand and priority for our Company Name ApplicationPoints to remember before Company registration / LLP registrationBefore registering a Private Limited Company, please go through the terms, conditions and important instructionsHow to choose a Name for your LLPThe process of registration of a Private Limited Company, documents required, time taken, etc..,Limited Liability Partnership Registration (LLP) will provide a platform to small and medium enterprises and professional firms to conduct their business/profession efficiently which would, in turn, increase their global competitiveness. After Limited Liability Partnership Registration, (LLP) it will become a corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, as a hybrid of companies & partnerships providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership. Limited Liability Partnership (LLP) is a legal entity under Limited Liability Partnership Act, 2008. A Limited Liability Partnership, popularly known as LLP combines the advantages of both the Private Limited Company and Partnership into a single form of organization. Limited Liability Partnership (LLP) ) is a new corporate form that enables professional knowledge and entrepreneurial skill to combine, organize and operate in an innovative and proficient manner. It provides and alternative to the traditional partnership firm with unlimited liability. After Limited Liability Partnership Registration (LLP), its members can avail the benefit of limited liability and the flexibility of organizing their internal management on the basis of a mutually-arrived agreement, as is the case in a partnership firm. LLPs proved to be a unique mode of doing business appealing especially to those run by freelancers, professionals of different specialisations such as digital marketers, software engineers, traders, real estate agents, advocates etc. resorting to Joint Ventures, Venture Capitals, Small and medium enterprises formats to fulfil their business aspirations. People from different walks of life who had been wanting to tie-up for commercial purposes found this as a perfect way out, one which was needed for quite a long time, one which had the flexibility of a partnership, the flexibility of organizing internal management on the basis of a mutually arrived agreement amongst the partners along with the advantages of limited liability of a company including but not limited to limited liability, all at a low compliance cost. Limited Liability Partnership (LLP) is a body corporate and legal entity separate from its partners, have perpetual succession and any change in the partners of a Limited Liability Partnership (LLP) shall not affect the existence, rights or liabilities of the Limited Liability Partnership (LLP) . To start a limited liability partnership at least two members are required initially. However, there is no limit on the maximum number of partners. After Limited Liability Partnership Registration (LLP) some or all partners (depending on the jurisdiction) have limited liabilities. It therefore exhibits elements of partnerships and corporations. In an Limited Liability Partnership (LLP) , each partner is not responsible or liable for another partner’s misconduct or negligence. For Limited Liability Partnership registration, minimum 2 partners are required.

NEED FOR LIMITED LIABILITY PARTNERSHIP (LLP) REGISTRATION

At present, under partnership law, the maximum numbers of partners a partnership firm can have is fifty also the partners are liable jointly and severally and most importantly their liability is unlimited which means that the personal property of the partners can also be attached for the satisfaction of the debts, in addition to the capital contributed by the partners in the firm. This is the principle reason why partnership firms of professional have not grown in size to meet the challenges posed today. Not only are the firm’s assets completely liquidated under the standard principles of the partnership law, but the partners are also jointly and severally liable for the entire liabilities of the partnership. Thus, the present system acts as a deterrent for the growth and expansion of service based organizations. The Limited Liability Partnership (LLP) is viewed as an alternative corporate business vehicle that provides the benefits of limited liability but allows its members the flexibility of organising their internal structure as a partnership based on a mutually arrived agreement. The Limited Liability Partnership (LLP) registration would enable entrepreneurs, professionals and enterprises providing services of any kind or engaged in scientific and technical disciplines, to form commercially efficient vehicles suited to their requirements. Owing to flexibility in its structure and operation, the Limited Liability Partnership (LLP) would also be suitable vehicle for small enterprises and for investment by venture capital. As the basic structure or model of the Limited Liability Partnership (LLP) is similar to that of any partnership firm Limited Liability Partnership (LLP) requires minimum two partners to form it. Limited Liability Partnership (LLP) cannot be formed by a single person. NRI/Foreign national who want to form an Limited Liability Partnership (LLP) in India then at least one partner should be a resident of India. Two foreign partners cannot form Limited Liability Partnership (LLP) without having one resident Indian partner along with them. It takes more days to form, as all the partners’ signatures are required for each and every document which is then to be attached to requirede-forms. Therefore self attestation of each partner on documents is more as compared to the formation of any Private ltd Private Limited Company. There should be at least 2 persons (natural or artificial) to form an Limited Liability Partnership . In case any Body Corporate is a partner, then he will be required to nominate any person (natural) as its nominee for the purpose of the Limited Liability Partnership (LLP). Biswas Filing is a pre and post business registration compliance management service provider. We are a group of Chartered Accountants, Company Secretaries and Advocates based in Thiruvananthapuram. Our aim is to register start-ups, micro, small and medium business at an affordable cost, by limiting our charges, in order to provide a support for the budding businesses. We are delivering a wide range of services to the business enterprises in Kerala, including Company Registration, Limited Liability Partnership Registration, Partnership Firm Registration, OPC Registration, GST Registration and Filing, Accounting and Book Keeping Services and Filing firm. Our Services

Private Limited Company Registration The Private Limited Company Registration enables to carry on the business at the large scale

Partnership Registration Partnership firm registration is the most easiest registration process, comparing the post registration regulatory compliances

One Person Company(OPC) registration When our idea is unique and we have enough resources to start a company

GST Registration and Filings GST is one of the major taxation restructurings in India aiming to merge State economies and enhance overall growth by forming a single, unified Indian market to make the economy more powerfull.

Limited Liability Partnership Limited Liability Partnership (LLP) Registration will provide a platform to small and medium enterprises

NGO Registration NGO’s or Non Governmental Organisations or Non Profit Organizations are a group of volunteers/ people Joined together for social and charitable activities, for the welfare of the Public and society.

Our Blogs

Evolution of LLP – The new era of Partnership June 28, 2020 The evolution in the legal structure of a classic partnership firm brought about the greatest single invention of modern times… കേരള പ്രൊഫഷണൽ ടാക്സ് April 30, 2020 പ്രൊഫഷണൽ ടാക്സ് എന്നത് ജീവനക്കാരുടെമേൽ ചുമത്തുന്ന നികുതിയാണ് – ശമ്പളം ലഭിക്കുന്ന വ്യക്തികൾ, സർക്കാർ അല്ലെങ്കിൽ സർക്കാരിതര സ്ഥാപനങ്ങളിൽ അല്ലെങ്കിൽ ഏതെങ്കിലും തൊഴിലിൽ ഏർപ്പെടുന്നവർ. ഐടി കമ്പനികളും… One-time Penalty Reduction & Prosecution Immunity for LLP March 6, 2020 The Government has recently unveiled a scheme that provides prosecution immunity and reduces the penalty for late filing various LLP… 10 Benefits of an LLP February 6, 2020 The benefits of forming a Limited Liability Partnership are as follows Easy and economical to register and convenient to operate… Points to remember before Company registration / LLP registration January 22, 2020 All documents should be scanned in a document scanner with more than 300dpi resolution in color or black and white… Limited Liability Partnership and Private Company – A Comparison January 7, 2020 Limited Liability Partnership requires a minimum of two partners. However there is no maximum limit like a Private Limited Company.… LIMITED LIABILITY PARTNERSHIP December 18, 2019 Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. A Limited Liability Partnership,… Read the full article

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theshitireadincomics-blog · 8 years ago

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Return of the Living Shit: the 90′s- First Edition Collector’s Item #1.

If you are like me, you grew up in either the 80’s or 90’s (I spent my adolescent years in the former, and my teens and early 20’s in the latter). If you were into comics in the 1990’s, you remember an era that was plentiful and shiny to the point of nausea. Between the poly-bagged first issues and the holographic, die-cut, embossed covers, readers found themselves with more choices than ever for their comics and superheroes. The readers of the late 80’s who begged for a solo Wolverine book or more Punisher were bombarded with enough monthly adventures of each to choke a horse. If someone was a huge Marvel or DC fan and wanted to stay current with the exploits happening in their beloved universe, it stopped being a hobby level activity and became a chore to keep up. Hell, it seemed like X-Men titles were multiplying like rabbits. I distinctly remember starting high school freshmen year and affordably buying Uncanny X-Men, New Mutants, and X-Factor, and Wolverine. By then end of high school, I was starving at lunch and stealing change from my parents to buy like 14 monthly X-books and whatever random mini-series was greenlit for that month. Granted, I bought and read them like a typical junkie dedicated to his craft, but fuck, was there really a need for X-Man?

Nowadays, I ask this question seemingly every month. Not about X-Man, as he has been shit-canned into the same dustbin as Spellbinder or Super-Pro, but about the current comics produced each month. As I flip through a new Previews in any given month, I fear we are beyond the over-saturation line. I mean, do we really need a monthly Foolkiller or a book dedicated to an alternate Spider-Man timeline when he stayed married? Do we? And I’m not even getting into the multiple versions of every character Marvel has created, each with their own title—that’s a whole different over-saturation problem. I am not just talking about Marvel either. DC is just as guilty, as right before their latest “rebirth,” they committed the ultimate unthinkable act of trying to give Aquaman two monthly titles—AQUAMAN!?!

Obviously, things are different now from the 90’s, as you could pay for Marvel’s wonderful digital subscription service, allowing you to read everything anywhere (if you are patient enough to wait out the release delays) and not be saddled with physical copies (I often ponder whether or not I actually need to own every copy of West Coast Avengers I’ve been hording for 20 plus years). DC has yet to develop a similar system, but there are digital copies of most things available through Kindle, Comixology, and piracy.

Now, our current comic climate is as bad as the 90’s—yet. For the most part, good storytelling prevails today, where sparkle and collector’s editions reigned then. However, because I am continuously reminded of that decade of oversaturation (two Black Panther monthly titles), I thought it would be fun to look at some of my favorite/most hated gimmicks on the 1990’s in a recurring column. Here is the first monstrosity:

FORCE WORKS #1, July 1994, Marvel Comics.

What happens when Tony Stark has enough of the rest of the Avengers’ shit? Well, Civil War I, II, and who knows what? But in the 90’s, he walked away to form his own super hero team.

In the ashes of the afore-mentioned West Coast Avengers who had just broken up, Tony, Wonder Man, Scarlet Witch (minus most of her clothing), the Spider-Woman nobody cares about, and U.S. Agent (looking more like a shitty Rob Liefeld image creation than a Cap knock-off) broke away from the Avenger franchise—sort of. Of course, being the cannon fodder that he always is, Wonder Man “died” during their first mission. They quickly found his replacement in an ancient alien named Century (brilliance of on-the-nose comic book naming). The team eventually broke-up, when Stark named the Witch to led, but continuously undermined her in those classic Stark womanizing family traditions.

While this title was convoluted and vomited the 90’s at every page, this is not why it makes the list of crap gimmicks. That, goes to the special collector’s edition first issue!

At this point in 1994, EVERY gimmick for a comic cover had seemingly been done. We had seen “holograms,” prisms, and were on the verge of having chromium shoved down our collective throats. But the crap gimmick Marvel came up with for FW #1 was ground-breaking…if you were cool with destroying your comic in the process.

This issue came with a giant foldout poster of the team drawn by the book’s artist, Tom Tenney. I’m not shitting on posters—comic posters are cool! Grunge had taken over in the mid 90’s and I would have needed to cover up that Skid Row poster anyways. The thing is, this poster came glued to the cover of the comic, folded into a rectangular form and adhesive was used to attach it (diagonally for some reason) across the front of the book. There was no way to remove this poster without damaging the book from remaining glue residue or ripping the cover trying to get the damn thing off! It was just a bizarre idea. Other publishers, and even other Marvel titles, were currently offering non-attached posters bagged with the comic. That would have made more sense. Not to mention that fact that if you miraculously managed to successfully remove the cover, today your book is only worth a fraction of the current $1.70 that it currently goes for. Hell, next time you are at a shitty comic convention in a smoke-stained veteran’s hall, digging through the dollar bins, pick one up and discover the awesomeness for yourself!

Oh, and on a final side note, one of my all-time favorite Marvel books from that era was when they parodied FW in a Ren and Stimpy Special:

Until next time, Stephyn.

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adrianjenkins952wblr · 6 years ago

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10 ways blockchain can help overcome the biggest challenges in commercial leasing

Commercial rentals and leases are stuck in the age of dinosaurs while disruption is happening in other industries.

Physical paper copies of rental lease agreements are still signed and kept by property owners and their tenants, while manual spreadsheets are used to monitor leasing agreements and transactions.

These traditional ways of transacting are paved with challenges for landlords. Fortunately for commercial property market, blockchain technology, used primarily in transacting cryptocurrencies can be employed as digital smart contracts — revolutionising the way landlords and tenants transact.

1. Painful Documentation Processes

Traditional commercial real estate leasing processes involve a lot of documentation. Between you and the lessor, there are lawyers, guarantors, agents, financial institutions and more needed to verify and safeguard each transaction.

The moment you engage your agent with the interest in leasing a property, your paper trail starts. Then it goes through various parties, with back and forth amendments, additions, and cleaned up versions with every new iteration of the contract.

With digital contracts, these processes and paper trails are greatly reduced.

Signature collection can be performed almost instantaneously online. Once the primary stakeholder and verified and signed off, the counter signatures can be notified and collected right way.

2. Need for Internal Checks

The manual process of leasing transactions opens up opportunities for fraud; the more parties involved, the higher the chances. Internal and external audits, tiered approvals, and corporate governance procedures are needed to minimise mischief and instil trust. Such processes lead to bureaucratic bloat and inefficiencies.

Using artificial intelligence, discrepancies can be quickly spotted for immediate ratification by the involved parties.

3. Privacy and Security Risks

Using excel spreadsheets to record data makes it vulnerable to data hacks by external parties. The Singhealth database breach last year is a prime example of how manual processes offers little to no security. With Blockchain’s cryptographic security system that requires the use of a public and private key, your data is secure and immutable.

Also read: 4 good reasons why commercial real estate should use blockchain

4. Inefficient Manual Tracking

Current real estate leasing, tracking and booking systems are often recorded manually on excel spreadsheets. This is both time-consuming and tedious when records need to be traced and verified. This also places unnecessary administrative

burdens on the personnel responsible for keying in entries to the excel sheet, and creates hours of non-productive work.

While applying blockchain, commercial real estate companies can now eliminate painful documentation processes as contracts will now be transacted online with a monitoring systems of each stakeholder’s actions. Privacy and security risk will be significantly reduced due to characteristics of Blockchain.

5. Environment and Space Unfriendly

The large amount of paperwork that follows a leasing transaction is not very green – many trees would have to be sacrificed. With that much paperwork, it also means there’s a need for substantial storage space to house all these documents. This results in a waste of space that could be used for commercially profitable activities.

Needless to say, if these transactions are done online tons of paper can be saved. While storage space can therefore be repurposed for commercial use.

6. High Intermediary Costs

Leasing a commercial space the traditional way doesn’t just involve the lessee and lessor. There could be many parties involved, like lawyers, guarantors, financial institutions, courier companies and more. Collectively, such third party and intermediary fees could swell the actual business cost for both landlord and tenant.

As platforms that utilise blockchain technology to create smart contracts typically acts like an agent. High administrative fees and commissions will be eliminated, saving real estate companies unnecessary expenses which can better their bottomline.

Also read: Why proptech and real estate tech will be important in Asia

Story continues

7. Lengthy Approval Processes

The time between the start of a leasing transaction until its completion could be lengthy. With multiple intermediaries to deal with, plus the time needed for contracts to be seen and approved up and down the corporate hierarchy of each organisation, it may take 2 to 3 weeks for a contract to be approved and endorsed.

This excludes the transportation time involved in delivering the physical copies of the contract back and forth between different parties.

By transacting online, all these inefficiencies will magically disappear. It’s as simple as sign, verify, confirm. It’s akin to performing a web check-in online before you

travel. It enhances the experience between the landlord and tenant by reducing the need for unnecessary waiting time.

8. Costly to Manage Short-term Leases

The trend of tenants committing only to short-term leases makes the lease management process tedious and laborious. Manual records will need to be frequently documented, plus the need for intermediary fees to be incurred regardless of the size of the rental contract.

Smart digital contracts platforms are agnostic to the size of your leasing contract. The cost and time required to transact are the same for 1 month leases, as well as 10 year leases. It spells convenience without imposing heavy intermediary fees.

9. Tedious Tenant Due Diligence

Evaluating potential tenants and lessees is a painful necessity. Failure to ascertain their credit-worthiness may lead to potential risks such as tenant defaulting on payments or having tenants with poor track records on board.

Also read: (Infographic) 16 industries that blockchain is disrupting

10. Inefficient Tenant Search Costs

Finally, the marketing of available commercial spaces is archaic, cumbersome and expensive. Property owners have to list their spaces across multiple online and offline media, incurring marketing and advertising expenses.

It’s surprising that it has taken so long for the industry to take on a digital approach for their commercial property leasing. Like airlines, commercial property should take a direct booking or enquiry approach due to the sheer fact of perceived cost savings to be enjoyed when you transact directly with the landlord. There aren’t many plug and play solutions out there to help landlords easily market their spaces and there should be more, lots more.

Charting the Way Forward

Thanks to the advent of the blockchain, smart contracts, and cryptocurrency tokens, commercial property owners and managers can now forge a fresh way forward.

Offering greater security, almost real-time approvals, trust-less verification, and frictionless transactions, blockchain based systems can transform how commercial leasing takes place.

—-

e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Photo by Sandro Katalina on Unsplash

The post 10 ways blockchain can help overcome the biggest challenges in commercial leasing appeared first on e27.

Source link http://bit.ly/2SNNFPx

#IFTTT #Cryptocurrency and Bitcoin

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courtneyvbrooks87 · 6 years ago

Text

10 ways blockchain can help overcome the biggest challenges in commercial leasing

Commercial rentals and leases are stuck in the age of dinosaurs while disruption is happening in other industries.

Physical paper copies of rental lease agreements are still signed and kept by property owners and their tenants, while manual spreadsheets are used to monitor leasing agreements and transactions.

1. Painful Documentation Processes

With digital contracts, these processes and paper trails are greatly reduced.

Signature collection can be performed almost instantaneously online. Once the primary stakeholder and verified and signed off, the counter signatures can be notified and collected right way.

2. Need for Internal Checks

Using artificial intelligence, discrepancies can be quickly spotted for immediate ratification by the involved parties.

3. Privacy and Security Risks

Also read: 4 good reasons why commercial real estate should use blockchain

4. Inefficient Manual Tracking

burdens on the personnel responsible for keying in entries to the excel sheet, and creates hours of non-productive work.

5. Environment and Space Unfriendly

Needless to say, if these transactions are done online tons of paper can be saved. While storage space can therefore be repurposed for commercial use.

6. High Intermediary Costs

Also read: Why proptech and real estate tech will be important in Asia

Story continues

7. Lengthy Approval Processes

This excludes the transportation time involved in delivering the physical copies of the contract back and forth between different parties.

By transacting online, all these inefficiencies will magically disappear. It’s as simple as sign, verify, confirm. It’s akin to performing a web check-in online before you

travel. It enhances the experience between the landlord and tenant by reducing the need for unnecessary waiting time.

8. Costly to Manage Short-term Leases

9. Tedious Tenant Due Diligence

Also read: (Infographic) 16 industries that blockchain is disrupting

10. Inefficient Tenant Search Costs

Charting the Way Forward

Thanks to the advent of the blockchain, smart contracts, and cryptocurrency tokens, commercial property owners and managers can now forge a fresh way forward.

Offering greater security, almost real-time approvals, trust-less verification, and frictionless transactions, blockchain based systems can transform how commercial leasing takes place.

—-

e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Photo by Sandro Katalina on Unsplash

The post 10 ways blockchain can help overcome the biggest challenges in commercial leasing appeared first on e27.

Source link http://bit.ly/2SNNFPx

#IFTTT #Cryptocurrency and Bitcoin

0 notes

vanessawestwcrtr5 · 6 years ago

Text

10 ways blockchain can help overcome the biggest challenges in commercial leasing

Commercial rentals and leases are stuck in the age of dinosaurs while disruption is happening in other industries.

Physical paper copies of rental lease agreements are still signed and kept by property owners and their tenants, while manual spreadsheets are used to monitor leasing agreements and transactions.

1. Painful Documentation Processes

With digital contracts, these processes and paper trails are greatly reduced.

Signature collection can be performed almost instantaneously online. Once the primary stakeholder and verified and signed off, the counter signatures can be notified and collected right way.

2. Need for Internal Checks

Using artificial intelligence, discrepancies can be quickly spotted for immediate ratification by the involved parties.

3. Privacy and Security Risks

Also read: 4 good reasons why commercial real estate should use blockchain

4. Inefficient Manual Tracking

burdens on the personnel responsible for keying in entries to the excel sheet, and creates hours of non-productive work.

5. Environment and Space Unfriendly

Needless to say, if these transactions are done online tons of paper can be saved. While storage space can therefore be repurposed for commercial use.

6. High Intermediary Costs

Also read: Why proptech and real estate tech will be important in Asia

Story continues

7. Lengthy Approval Processes

This excludes the transportation time involved in delivering the physical copies of the contract back and forth between different parties.

By transacting online, all these inefficiencies will magically disappear. It’s as simple as sign, verify, confirm. It’s akin to performing a web check-in online before you

travel. It enhances the experience between the landlord and tenant by reducing the need for unnecessary waiting time.

8. Costly to Manage Short-term Leases

9. Tedious Tenant Due Diligence

Also read: (Infographic) 16 industries that blockchain is disrupting

10. Inefficient Tenant Search Costs

Charting the Way Forward

Thanks to the advent of the blockchain, smart contracts, and cryptocurrency tokens, commercial property owners and managers can now forge a fresh way forward.

Offering greater security, almost real-time approvals, trust-less verification, and frictionless transactions, blockchain based systems can transform how commercial leasing takes place.

—-

e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Photo by Sandro Katalina on Unsplash

The post 10 ways blockchain can help overcome the biggest challenges in commercial leasing appeared first on e27.

Source link http://bit.ly/2SNNFPx

0 notes

bobbynolanios88 · 6 years ago

Text

10 ways blockchain can help overcome the biggest challenges in commercial leasing

Commercial rentals and leases are stuck in the age of dinosaurs while disruption is happening in other industries.

Physical paper copies of rental lease agreements are still signed and kept by property owners and their tenants, while manual spreadsheets are used to monitor leasing agreements and transactions.

1. Painful Documentation Processes

With digital contracts, these processes and paper trails are greatly reduced.

Signature collection can be performed almost instantaneously online. Once the primary stakeholder and verified and signed off, the counter signatures can be notified and collected right way.

2. Need for Internal Checks

Using artificial intelligence, discrepancies can be quickly spotted for immediate ratification by the involved parties.

3. Privacy and Security Risks

Also read: 4 good reasons why commercial real estate should use blockchain

4. Inefficient Manual Tracking

burdens on the personnel responsible for keying in entries to the excel sheet, and creates hours of non-productive work.

5. Environment and Space Unfriendly

Needless to say, if these transactions are done online tons of paper can be saved. While storage space can therefore be repurposed for commercial use.

6. High Intermediary Costs

Also read: Why proptech and real estate tech will be important in Asia

Story continues

7. Lengthy Approval Processes

This excludes the transportation time involved in delivering the physical copies of the contract back and forth between different parties.

By transacting online, all these inefficiencies will magically disappear. It’s as simple as sign, verify, confirm. It’s akin to performing a web check-in online before you

travel. It enhances the experience between the landlord and tenant by reducing the need for unnecessary waiting time.

8. Costly to Manage Short-term Leases

9. Tedious Tenant Due Diligence

Also read: (Infographic) 16 industries that blockchain is disrupting

10. Inefficient Tenant Search Costs

Charting the Way Forward

Thanks to the advent of the blockchain, smart contracts, and cryptocurrency tokens, commercial property owners and managers can now forge a fresh way forward.

Offering greater security, almost real-time approvals, trust-less verification, and frictionless transactions, blockchain based systems can transform how commercial leasing takes place.

—-

e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Photo by Sandro Katalina on Unsplash

The post 10 ways blockchain can help overcome the biggest challenges in commercial leasing appeared first on e27.

Source link http://bit.ly/2SNNFPx

#IFTTT #Cryptocurrency and Bitcoin

0 notes

mccartneynathxzw83 · 6 years ago

Text

10 ways blockchain can help overcome the biggest challenges in commercial leasing

Commercial rentals and leases are stuck in the age of dinosaurs while disruption is happening in other industries.

Physical paper copies of rental lease agreements are still signed and kept by property owners and their tenants, while manual spreadsheets are used to monitor leasing agreements and transactions.

1. Painful Documentation Processes

With digital contracts, these processes and paper trails are greatly reduced.

Signature collection can be performed almost instantaneously online. Once the primary stakeholder and verified and signed off, the counter signatures can be notified and collected right way.

2. Need for Internal Checks

Using artificial intelligence, discrepancies can be quickly spotted for immediate ratification by the involved parties.

3. Privacy and Security Risks

Also read: 4 good reasons why commercial real estate should use blockchain

4. Inefficient Manual Tracking

burdens on the personnel responsible for keying in entries to the excel sheet, and creates hours of non-productive work.

5. Environment and Space Unfriendly

Needless to say, if these transactions are done online tons of paper can be saved. While storage space can therefore be repurposed for commercial use.

6. High Intermediary Costs

Also read: Why proptech and real estate tech will be important in Asia

Story continues

7. Lengthy Approval Processes

This excludes the transportation time involved in delivering the physical copies of the contract back and forth between different parties.

By transacting online, all these inefficiencies will magically disappear. It’s as simple as sign, verify, confirm. It’s akin to performing a web check-in online before you

travel. It enhances the experience between the landlord and tenant by reducing the need for unnecessary waiting time.

8. Costly to Manage Short-term Leases

9. Tedious Tenant Due Diligence

Also read: (Infographic) 16 industries that blockchain is disrupting

10. Inefficient Tenant Search Costs

Charting the Way Forward

Thanks to the advent of the blockchain, smart contracts, and cryptocurrency tokens, commercial property owners and managers can now forge a fresh way forward.

Offering greater security, almost real-time approvals, trust-less verification, and frictionless transactions, blockchain based systems can transform how commercial leasing takes place.

—-

e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Photo by Sandro Katalina on Unsplash

The post 10 ways blockchain can help overcome the biggest challenges in commercial leasing appeared first on e27.

Source link http://bit.ly/2SNNFPx

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teiraymondmccoy78 · 6 years ago

Text

10 ways blockchain can help overcome the biggest challenges in commercial leasing

Commercial rentals and leases are stuck in the age of dinosaurs while disruption is happening in other industries.

Physical paper copies of rental lease agreements are still signed and kept by property owners and their tenants, while manual spreadsheets are used to monitor leasing agreements and transactions.

1. Painful Documentation Processes

With digital contracts, these processes and paper trails are greatly reduced.

Signature collection can be performed almost instantaneously online. Once the primary stakeholder and verified and signed off, the counter signatures can be notified and collected right way.

2. Need for Internal Checks

Using artificial intelligence, discrepancies can be quickly spotted for immediate ratification by the involved parties.

3. Privacy and Security Risks

Also read: 4 good reasons why commercial real estate should use blockchain

4. Inefficient Manual Tracking

burdens on the personnel responsible for keying in entries to the excel sheet, and creates hours of non-productive work.

5. Environment and Space Unfriendly

Needless to say, if these transactions are done online tons of paper can be saved. While storage space can therefore be repurposed for commercial use.

6. High Intermediary Costs

Also read: Why proptech and real estate tech will be important in Asia

Story continues

7. Lengthy Approval Processes

This excludes the transportation time involved in delivering the physical copies of the contract back and forth between different parties.

By transacting online, all these inefficiencies will magically disappear. It’s as simple as sign, verify, confirm. It’s akin to performing a web check-in online before you

travel. It enhances the experience between the landlord and tenant by reducing the need for unnecessary waiting time.

8. Costly to Manage Short-term Leases

9. Tedious Tenant Due Diligence

Also read: (Infographic) 16 industries that blockchain is disrupting

10. Inefficient Tenant Search Costs

Charting the Way Forward

Thanks to the advent of the blockchain, smart contracts, and cryptocurrency tokens, commercial property owners and managers can now forge a fresh way forward.

Offering greater security, almost real-time approvals, trust-less verification, and frictionless transactions, blockchain based systems can transform how commercial leasing takes place.

—-

e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Photo by Sandro Katalina on Unsplash

The post 10 ways blockchain can help overcome the biggest challenges in commercial leasing appeared first on e27.

Source link http://bit.ly/2SNNFPx

0 notes

klausenwright05-blog · 6 years ago

Text

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listiqueblog · 7 years ago

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Your Quick Start Guide to Cross-Border Ecommerce in China, India & The Middle East

Centuries before GPS and various forms of travel technology, navigators relied on stars to point them in the right direction –– using them as a guidance tool while embarking into territories and corners of the globe not yet reached.

While we have come light years from relying on stars for determining direction, we still rely heavily on tools and technology to guide us.

As merchants venture off into new markets, the very first step is almost always around discover:

Where do we go?

How do we get there?

What to do when I get there?

Wouldn’t it be easy if there was already a “Quick Start Guide” doing business globally?

That’s what we have set out to do.

Below you will find a country-by-country, quick start guide to entering each respective market.

From marketplaces to social commerce platforms, everything that you need to know as a merchant is right here, right now.

The International Expansion Playbook

What if you are ready to invest in international expansion and localization to own a brand new market long before you competitors?

That’s what this guide will teach you to do.

Get it now.

How to Sell Online in China

Online retail sales in China reached 5.16 trillion yuan ($752 billion) in 2016, representing 26.2% growth from 2015—more than double the growth rate of overall retail sales, according to China’s National Bureau of Statistics, the agency charged with tracking economic data.

Want a slice of that pie? Of course you do. Here’s how.

TMall

Selling in China to-date for most U.S. and Western European merchants has been via TMall.

Unlike most marketplaces, TMall offers what is known as a Storefront marketplace, where merchants can have a fully branded flagship store within their marketplace.

However, to do so, you will have to successfully prove that you have an in-country agent or business.

This requires the following documentation:

Copy of a business license from mainland China

Copy of corporate tax registration certificate from mainland China

Copy of organization code certificate

Copy of bank account permits

Copy of legal representative ID card

Copy of TMall flagship store owner’s ID card

Trademark registration from the state trademark association

Alipay corporate account authorization

Completed product list

Providing this documentation may be difficult if you do not have an in-country partner or if you are simply just getting started with selling globally.

Of course, there is a second option…

TMall Global

The big advantage of TMall Global is that organizations do not have to have a legal entity in China, in contrast to other ecommerce platforms (including the standard TMall).

In addition to shipping orders from the country of origin, the brands can also ship from storage facilities in free trade areas in Shanghai, Ningbo, Hangzhou, Zhengzhou and Guangzhou.

This reduces delivery times and the logistics costs per shipment –– and is more relatable to many brands, since this model is similar to Amazon’s FBA.

Plus, the applicable tax rate for purchases from these zones is 10% instead of the regular import tariffs of approximately 30-40%.

The types of stores you can open on TMall

Lastly, in China, specifically on TMall, it is important to understand the differences in the types of stores that you can open.

Currently, there are three types of stores that merchants can apply for:

Flagship Store

Authorize Store

Specialty Store

Flagship Store

Flagship stores can only be opened if the merchant is the brand owner (trademark owner) or possesses authorization from the brand owners of the products.

Flagship stores can be authorized and launched under the following circumstances:

Store sells and acts on the behalf of a single brand that is owned by the merchant opening the store

Store sells and acts on the behalf of multiple brands that are all owned by the merchant opening the store

Store sells and acts on the behalf of a multi-brand marketplace (service class trademark) owned by the merchant opening the store

Nike on TMall example

Authorized Store

Authorized stores are stores run by merchants which hold a license from a brand to do business on their behalf in a specific region, in this case, China.

Authorized Stores can be opened under the following circumstances:

Store is authorized to sell products from one brand

Store is authorized to sell products from multiple brands, but all brands belong to the same entity

To give a quick example (though not on TMall), Power Support is a U.S. store selling goods from Japan. The owner of the store is authorized by the brand owners, and is the only branded seller in the U.S. He reports his numbers back to the original owners, but has leeway to grow the business as he sees fit.

That would classify as an authorized store on TMall.

Specialty Store

Specialty stores are for merchants that sell products in multiple categories; however, are not the brand owner. Specialty stores can be opened under the following circumstances:

Store sells products from two or more brands that the merchant does not own

Store sells products from a brand (trademark) owned by the merchant and sells products from a brand not owned by the merchant

Store sells products from two or more brands that the merchant owns

A good example of a specialty online store –– again using a U.S. merchant to give you an example –– is Spearmint LOVE. Spearmint sells a few of their own unique products, as well as aggregates goods from across their niche to sell on their site.

Find the Fit for You

Your biggest takeaway here is that you have options on TMall.

Regardless, however, of whether you are on mainland China or looking to stay abroad as you expand, your storefront must be available in Chinese, as Chinese buyers must have access to Chinese customer service and the product must be returnable to an address in China.

Additionally, merchants must provide certificates of authenticity of the brand to prevent the sales of shanzhai (fake) products.

WeChat

While marketplaces have dominated in China to-date, the rise of mobile commerce has accelerated with the adoption and penetration of social commerce platforms like WeChat.

WeChat gives shoppers and users a quick, easy in-app checkout via WeChat Pay. Like TMall, brands can create Official Accounts that enable them to have Flagship stores built within WeChat.

Also like TMall, to register an official account on WeChat, merchants will need the following documentation:

Chinese ID

Chinese mobile phone number

Chinese business license

Chinese organization code

Tencent, the managing group of WeChat, does not allow non-Chinese merchants to apply for official accounts for free.

Instead, the application costs for non-Chinese merchants looking to start an official store on WeChat are $1,300 (USD) and can take up to 4 months to process.

Understanding Store Types; Service versus Subscription

When registering a WeChat Official Store, merchants will be given the choice of creating a Subscription, Service, and/or Enterprise account. The two that we will focus on for initially penetrating China via WeChat will be:

Service Accounts

Subscription Accounts

Depending on what the goals of your brand are, awareness versus sell-through, both of these models provides benefits that can fit your needs.

Service Accounts

Arguably the best account for ecommerce lead initiatives, service accounts allow merchants to accept in-app purchases via WeChat Pay and other forms of preferred payment. This removes barriers to entry when considering payment types in China.

Additionally, Service Accounts have the following functionality that Subscription Accounts do not:

Connected Objects – iBeacons deliver content via WeChat native functionalities

Ecommerce – WeChat Pay allows your shoppers to purchase in-app

Geo-Location – Enables you to send push notifications based on location, great for larger merchants that practice O2O (offline-to-online)

QR Codes – Generate easy to use QR codes that can better connect digital and physical

Subscription Accounts

The biggest benefit of a Subscription Account is the associated publisher tools. Unlike Service Accounts, Subscription Accounts can publish 1 message per day; whereas Services Account are only given 4 per month.

However, the downside of Subscription Accounts is that you cannot leverage ecommerce functionality.

Key Notes

It is important to remember that not all WeChat accounts and users are the same. For example:

Non-Chinese WeChat users have access to Both Chinese and Non-Chinese official accounts.

Chinese WeChat users only have access Chinese registered accounts.

Both should be taken into consideration when determining whether to leverage an in-country partner to verify a Chinese business standing or do it as a recognized cross-border merchant operating outside Mainland China.

Cross-Border Ecommerce in India

According to a ASSOCHAM-Forrester study, India’s ecommerce revenue is expected to jump from $26 billion in 2016 to $103 billion in 2020.

While in terms of the base, India may be lower than China and other giants like Japan, the Indian rate of growth is way ahead of others.

Against India’s annual growth rate of 51%, China’s ecommerce market is growing at 18%, Japan at 11% and South Korea at 10%.

Here’s how to get on that market right now.

Flipkart

While Amazon begins to tap into India, Flipkart remains the market leader in terms of marketplace opportunity for selling across borders.

Currently, Flipkart has more than 7.5M core registered customers and ships more than 800,000 packages, per month, to more than 1,000 cities.

Like marketplaces and social commerce platforms in China, Flipkart mandates that you show proof of having a business established in country.

Again, this not a complete roadblock; however, it does require an in-country partner that can provide residency and show documentation.

When signing up for Flipkart Seller Portal access, you will need to provide the following documentation:

PAN Card (Personal PAN for business type “Proprietorship” and Personal + Business PAN for business type as “Company”)

VAT/TIN Number (not mandatory for books)

Bank account and supporting KYC documents (Address Proof, and Cancelled check)

Minimum of 10 unique products to sell

The Benefits of Selling through Flipkart

If merchants decide to sell on Flipkart, there are a tremendous amount of benefits that alleviate and better mitigate risk when selling in India.

Shipping: Flipkart handles the shipping of your products. All merchants need to do is pack the product and keep it ready for dispatch. Flipkart’s logistics partners will pick up the product from you and deliver it to the customer.

Seller Protection: Flipkart has set up a Seller Protection Fund (SPF) to protect merchants against fraud. Merchants can request for SPF claim through the seller dashboard. When the buyer or logistics partner is at fault, you will receive due compensation.

Easy Payouts: All merchant payments are made through NEFT transactions (online banking). The payment is made directly to the merchant’s bank account within 7-15 business days from the date of order dispatch. It’s 7 business days for Gold Sellers, 12 business days for Silver Sellers and 15 business days for Bronze sellers.

Snapdeal

While Flipkart has become the more notable Indian marketplace, Snapdeal is India’s second leading marketplace and has quite the market share.

Today, Snapdeal has around 300,000 sellers and delivers in more than 6,000 cities and towns in India.

In March 2016, its gross merchandise value stood at around $4 billion.

Like Flipkart, Snapdeal mandates that merchants wanting so to sell into India via their marketplace have an in-country business entity.

For merchants wanting to sign-up, they will need the following to access their Seller Portal:

PAN Card

VAT/CST number

Bank Account number

The Benefits of Selling on Snapdeal

Customer Shopping Experience: Unlike Flipkart and Amazon, Snapdeal goes above and beyond in creating a very easy to shop user interface and experience online. From category landing pages to their product detail pages, the marketplace does a great job of communicating to consumers their merchant’s product value in a more B2C way than normal marketplaces.

Cross Border Merchant Friendly: Unlike Flipkart, Snapdeal allows cross border merchants to ship from their domestic distribution centers, not requiring them to make the in-country inventory investment. This is a favorable advantage when penetrating the market by keeping initial investments to a minimum.

4 Steps to Conquer Ecommerce Penetration in India

While Indian marketplaces require merchants to have an in-country partner to act as the merchant of record, what happens once merchants have successfully “landed” in-country?

For many, the road and path of least resistance is still unknown, as India still represents a market with few to no foreign experts for merchants to lean on.

That’s why we reached out to Tony Navin, SVP, Partnerships and Strategic Initiatives at Snapdeal.

He grew Snapdeal’s electronics and general merchandise units up to $2 billion since 2012, constituting 80% of the marketplace’s business.

And he did all of this while spearheading the marketplace’s monetization revenue stream and building out its advertising platform.

A former start-up entrepreneur himself, Navin fully understands the Indian market, top to bottom.

Here are the 4 steps Navin recommends for those that have started or are evaluating launching an Indian ecommerce channel:

Create brand recall with in in-country awareness and SEM

Build strong relationships with marketplace stakeholders

Save on supply chain by leading with online

Follow the right trends

Building in-country awareness

Just like doing business domestically, merchants have to build awareness for both their brand and products. Cross border commerce is no different.

In India, shoppers follow the same discovery behaviors as those in the U.S., AU or Canada, using search across multiple online channels. To be successful, merchants have to look at SEM as a necessary investment when entering the Indian market.

“Merchants have to consistently evaluate the way they engage in marketplaces,” says Navin. “Brands need to create recall, so when shoppers search for specific goods, your products are at the top of search results and category landing pages.”

Advertising on Snapdeal

Currently, Snapdeal allows its merchants to leverage it’s robust advertising platform in two forms:

Brand Ads

Product Ads

Depending on the goal of your campaigns, the marketplace’s advertising features allow you to connect and build relationships with consumers authentically, yet strategically.

Below are areas within the marketplace that merchants are allowed to buy ad space:

Homepage

Product List Page

Category Pages

Search List Page

Product Details Page

Order Confirmation Page

Marketplace representatives are just as important as consumers

While building confidence and trust with local customers is objective #1, do not forget that marketplace associates and representatives are just as important.

The reality of India is that 1000s of merchants are selling online –– what makes your product different? What makes you standout? How can these associates help to increase your visibility?

These associates are like influencers in the U.S. market. Build your relationships with them early on. They need to be aware of your presence, so be proactive!

Navin says continuous engagement is necessary when building relationships with marketplace associates. “Do it daily and consistently,” he says.

Use online to generate buzz and cut costs

In 2000, cellular giant Motorola exited the Indian market amid continued decline of market share and sales. However, in 2012, the brand returned with force, recapturing both market share and sales in a digitally driven re-launch.

What was the key to their success?

Navin calls it, “investing smart.” Simply put, merchants that want to enter or re-enter the Indian market need to make investments.

But where do you invest first?

Navin suggest a hybrid model, taking an online first approach to generate buzz, but also cut supply chain costs by selling digital, rather than physical to start.

Moreover, while many marketplaces require cross border merchants to have in-country stock, Snapdeal is seller friendly, allowing merchants to ship from their domestic distribution center, enabling them to successfully penetrate the market with minimal inventory/shipping investments.

Don’t fit a square peg into a round hole

When determining whether or not India is a viable market to penetrate, consider current consumer demand within your vertical.

Currently, India’s top categories are:

Electronics

Appliances

Entertainment Devices

Smart Phones

Apparel & Footwear

When it is all said and done, India represents massive opportunity for the right merchants. For merchants that fit the mold, finding a local partner is probably the best course of action.

Lastly, as you merchandise your catalog for in-market distribution, be considerate of “hygiene factors,” says Navin while describing India’s socioeconomic factors, adding, “India is religiously sensitive, so be mindful of how your products impact local culture.”

How to Sell in the Middle East

The Middle East is on the verge of a massive digital disruption with significant untapped ecommerce potential, according to a 2016 Digital Middle East report by McKinsey & Company.

The key driver of this is the Muslim market, which is expected to grow to $484 billion by 2019, according to the 2014-15 Thomson Reuters State of the Global Islamic Economy Report.

For western merchants, the growing category in-market remains luxury and premium priced apparel, beauty and footwear.

If you sell in one of those categories, here’s how to get launched in the Middle East.

Namshi

Namshi is part of the Global Fashion Ecommerce Group created by Rocket Internet. It is a Dubai-based online fashion retailer with more than 40,000 exclusive in-house collections and brands such as Adidas, Nike, Diesel, Topshop, Lacoste and Vans.

It has seen significant growth over the past two years.

The platform is experiencing massive market adoption and penetration for both cross border commerce and mobile commerce.

Over 80% of Namshi shoppers use mobile or tablet devices to access Namshi. Mobile traffic currently tops 175 million pageviews monthly, with 18 million pageviews on desktop.

Selling on Namshi is by application only.

The Modist

The newest challenger is the Middle Eastern market just went live in 2017. It has an aesthetically pleasing shopping experience and is cutting into the growing fashion market.

The Modist, a Dubai-based ecommerce site, offers 75 contemporary designer brands to women whose religious, cultural or personal tastes lean toward a modest style aesthetic.

It is a great way of merchandising in-country that simultaneously caters to cultural and socio economic expectations and norms.

Amazon’s Influence in the Middle Eastern Market

Making headlines in 2017 was Amazon’s acquisition of regional leader Souq.com.

Souq, the largest ecommerce company in the Middle East, was founded in 2005 on an eBay-like online auction model, but it subsequently evolved into more of an Amazon-style set-price retailer.

Souq.com currently has more than 8.4 million products for sale and has over 45 million visits per month.

Selling on Souq

Like Asia Pacific marketplaces, Souq.com requires that you have an in-country partner to show support documents that allow you to sell in each specific country.

Those requirements include:

Local Shipping location: Souq will use the details of this location to pick up your orders and deliver them to the customers. Please note that you will be required to verify the mobile phone number used to contact this location.

Trade license and ID: When selling specific categories, Souq requires the trade license and ID verification for legal purposes, this will insure that you’re allowed to sell them in a specific country.

Final Word

For brands selling in the luxury market, the Middle East has multiple options for you to expand your business.

For those looking to sell in India, electronics and apparel & footwear do best. In China, just about anything goes, though having an in-country presence is ideal.

Over all, which region you choose to launch into is based on your brand, what you sell and where you can afford to get feet on the ground to understand the market and test the water.

The International Expansion Playbook

What if you are ready to invest in international expansion and localization to own a brand new market long before you competitors?

That’s what this guide will teach you to do.

Get it now.

Want more insights like this?

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