A founder and CEO of a Bengaluru-based company has shared that he may have to move back to the US since he spent two months trying to register a company in the city, but in vain.
Brij Singh, who has been working in the technology and finance sector in India and the US for 18 years as per his Linkedin profile, said he loves Bengaluru but has been facing difficulties in getting his company registered in the city.
"Love Bangalore/India, but I have learnt more in the last 3 days in Bay Area (San Francisco) than I could in a month back home," Singh tweeted. "Spent two months just trying to register a company in India and it’s still not done."
Explaining the problem he has been facing, Singh, the founder and CEO of Snow Mountain AI, said, "The solution feedback loop from potential customers, investors, and even fellow founders is at a different level. The time may be coming for me to move back to the US. And I say this with a heavy heart."
The entrepreneur, however, added that he has not given up on Bengaluru yet. "Not giving up on anything. Just stating the facts," he wrote responding to a Twitter follower. "There are a lot of advantages in building from India for the world as well. One must learn to leverage whatever opportunities they can to execute and compete in a global market. That is the reality."
While some Twitter users urged Singh to fight on, a few others questioned the amount of time company registration was taking.
"What's the issue with registration? You know ROC has fixed timelines set for the application process? It cannot keep dragging it to two months. It has to be done within timelines or at least provide reasons why it cannot move forward (most probably name conflicts or registering names which have 'India' or some reserved word in it which requires payment in lakhs instead of regular fees)," user Shripad Krishna (@shripad_krishna) commented. "Apart from this, I see no issues that can arise with mere registration. If his CA cannot even get a simple company registration done even after two months I'll happily get it done in max 10 days for half the price he is paying his CA."
Another user Akshat Paul (@paulakshat) wrote, "Company registration is still faster like two weeks if you have a good vendor like Company 360 -- GST takes months because of multiple rejections and complicated forms -- of course, you need a good legal partner to solve this quickly. In case you still change your plan will love to connect you with the right partners to help your business thrive."
A third user pointed out that Singh's case is not the first of its kind.
"Indian founders and VCs are moving (and looking to move) to the US at an ever-increasing pace. 'Reverse brain drain' was a ZIRP phenomenon and is now dead. And as always, there's something special about San Francisco and the Bay," commented Anmol Anmol (@anmolm_).
Interestingly, when it comes to ease of doing business, Karnataka had topped the list last year, along with Telangana, Andhra Pradesh, Gujarat, Haryana, Punjab, and Tamil Nadu. As per the Ease of Doing Business ranking of states/union territories released by the Department for Promotion of Industry and Internal Trade (DPIIT). It was the state’s “best performance” after having ranked 17th earlier.
Read more: Bengaluru CEO shares struggle to evict defaulting tenant: 'Mom sold all real estate'
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