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Bhatia & Co: Proficient Cross Border Financial Services

Bhatia & Co: Proficient Cross Border Financial Services

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Neeraj Bhatia,Founder&Principal CPA & CA

Neeraj Bhatia

Founder&Principal CPA & CA

With the advent and massive proliferation of globalization, the barriers to entry in any market across the globe have come down. Be it an established family business, a young start up or an SME, every organization can today aspire to spread its reach across the globe. However, while taking the leap to a global level, businesses must comply with the various complex global financial rules and taxation laws. Since these laws differ from country to country, cross border investments could be a tough nut to crack. In order to avoid non-compliance, businesses rely on financial consultants with expertise in the said field. However, the market has very few professional service firms that offer a whole range of services, all under one roof, especially focusing on small and medium level organizations. Answering the requirements of the industry is California & New Delhi-based Bhatia & Co a full service financial and business firm that specializes in international transactions and tax planning.

“There are plenty of Accounting firms who offer Tax and Accounting services, and may be audit services as well, but we are unique in offering corporate services in India as well, with both ends working in conjunction,” says Neeraj Bhatia, Founder & Principal CPA, Bhatia & Co, CPAs in the US and Neeraj Bhatia & Co, Chartered Accountants in India. With a firm focus on rendering cost effective and professional services, the firm has been simplifying cross border investments/multi-country income and tax planning for domestic and international organizations since 2000. At the helm of affairs is Neeraj, an accomplished accounting professional with over 30 years of expertise in international and domestic tax planning and compliance for startups and multinational entities. Under his robust leadership, the organization has helped more than 1000 startups get off the ground through its corporate structuring and tax &financial planning services.

Simplifying Complex Challenges
Tax and Financial rules can be rather tough to understand, especially for individuals with no expertise in the field. On the other hand, non-compliance can result in major financial loss for businesses. Therefore, entrepreneurs look for Tax and financial consultants who can empower businesses with the right know how. “Most of our clients come with complex situations in terms of cross border investments/multi-country income. Each situation is unique and our experts analyse and evaluate in terms of Source rules, Tax Residence status of clients, different tax rates, exemptions and many more,” explains Neeraj. Bhatia & Co strives to arm clients with the right knowledge and discuss all the available options keeping in mind their unique situations.

As an example a simple property sale in by a US person could involve analyzing 9-10 different Tax aspects –as per both India & US Tax law and then chose the best option. This could involve analyzing 4-5 potential reinvestment options available in India as well as adjustment to Cost basis in India and balance that with available reinvestment options as per US laws and also potential adjustment to Cost basis as per US laws.

Armed with an accomplished team of expert financial consultants,Bhatia & Co renders service in the arena of business and individual tax,audit & review, international tax planning and Foreign exchange regulations compliance, incorporation and corporate compliance, accounting,
outsourcing, business consulting, financial and retirement planning, immigration consulting and litigation support to a diverse range of clients. The firm’s current engagements in the U.S. and India include cross border tax planning and transactions, M&A, corporate structuring, and complex Tax audits and representation including recent oversees disclosure programs (OVDP/OVDI/Streamlined disclosure programs). Besides the tax and accounting services, Bhatia & Co also assists clients in retirement and investment services.

With a firm focus on rendering cost effective and professional services, the firm has been simplifying cross border investments/multi-country income and tax planning for domestic and international organizations

The Firm also provides Expert Opinions & Interpretations on various provisions of Corporate Laws and Tax Laws for domestic and cross border entities and individuals. “We have worked with clients on unique tax saving and tax planning plans, including 401K plans, Oil and Gas investment plans, and others,” Neeraj adds. Bhatia & Co’s financial services hold the potential to aid businesses gain major business advantages. For an instance, a U.S. based non-profit organization had been unsuccessful in getting their non-profit exemption approved by the US IRS for almost 20 years. Grappling with the issue, the firm enlisted the expert services of Bhatia & Co. Within a couple of months Bhatia & Co’s expert Tax professionals got the approval for the NGO’s Tax exempt status. Similarly, the firm has been instrumental in writing various success stories for its clients across India and U.S.

OVDP Specialists
While dabbling in international ventures one must be extremely careful as individuals and business entities could face severe civil and criminal penalties due to non-disclosure of overseas income and accounts. Bhatia & Co has been successful in eliminating or minimizing their penalties either under Overseas Disclosure programs(OVDI/OVDP/ Streamlined Process) or otherwise legally.

The company recently worked with a client who was faced with a steep penalty under Overseas Voluntary Disclosure Program(OVDP)while working with another CPA firm, who was unable to get that reduced. Through Bhatia & Co’s astute guidance, the client managed to get that penalty completely waived by presenting and arguing the legal scenario effectively. This is not an isolated example and the firm has handled a number of other such clients wherein the team has been able to negotiate minimum or no penalty.

Immigration Consulting Experts
Bhatia & Co also possesses expertise in immigration consulting and can handle complex immigration issues as well, including H1Bs, L1s, Green Card, etc. thus providing a one-stop professional service solution to international companies and individuals alike. The organization has handled some of the most complex cases successfully. As an example, in one such case the firm got an individual's Green card approved under CSPA (Child Status Protection Act) at the age of 33.“All the Immigration Law firms and consultants that he had consulted during the years,(including some of the top level ones) had informed him that he was not eligible,” says Neeraj. It was Bhatia & Co’s expertise in the immigration sector that got the issue resolved successfully and the individual was granted Green Card based on date before he turned 21. The firm has also procured immigrant visas for clients in other difficult categories such as National Interest Waiver, Individuals of Extra ordinary ability, besides
the Multinational Managers and regular employment based categories.

Over the last 17 years, Bhatia & Co has built a strong reputation in the national and international market which has translated into the company winning over several prestigious clients. The firm’s success can be attributed to the team’s proficiency in handling complex issues with finesse. Unlike large corporations, the company ensures that clients receive professional services with utmost personal attention. “Being a professional services organization, we rely on proven and efficient data security tools. The staff is adequately trained to handle client's information and sensitive data discretely and with utmost care,” elaborates Neeraj. Efforts are also made to rigorously train employees and to keep them updated with the latest changes that happen with the relevant laws and regulations, both in India, the US and other countries.

With offices in California, Delhi and an Associate office in Toronto, Bhatia & Co has a global clientele, with a special focus on the U.S. market. In the years to come, the firm intends to expand its operations by opening offices in few other geographical areas, including New York. Given the firm's expansive roster of services and Neeraj’s credible experience in the Accounting and finance industry, Bhatia & Co is filling a rather gaping hole in the global financial industry.

PANEL
The Strong Foundation: Neeraj Bhatia
Neeraj is an accomplished accounting professional with expertise in international and domestic tax planning and compliance for startups and multinational entities. He specializes in International tax, audit and review, accounting, compliance and reporting, immigration services, and corporate compliance with offices in California, New York and New Delhi.

Neeraj is a Certified Public Accountant in California,Colorado,and New York,Chartered Accountant from India, holds an LL.M. in International Taxation from the US, Costs and Works (Management) Accountant and graduated with a Bachelor Honors degree in Commerce from India. During his academic years, Neeraj has won several awards and scholarship, including Gold Medal from CBSE for securing First position nationwide in All India Higher Secondary examination.

His expertise extends to community activities as well as non-profit sector. Neeraj is also the Vice President and Director of Indo American Chamber of Commerce, which promotes the economic development of Indo American Community in the US. He is Co-Chairman of International Trade Council. He is also on the Board of Directors of University of Silicon Andhra, a Silicon Valley based newly formed University imparting Postgraduate degree programs in India languages, literature and Arts. He also has worked with a number of Indian regional organizations in the US assisting them in their charitable status and regulatory compliance. Neeraj was actively working in conjunction with Software Technology Parks of India (STPI) – A Government of India Undertaking in the Bay Area, US promoting and assisting in cross border Technology trade between US and India in general and for several Indian startups in the US in particular. He is also in several committees of California Chamber of Commerce.

Recently on January 9, 2018 Neeraj was awarded the Hind Rattan Award (Jewel of India award) on the occasion of Pravasi Bhartiya Diwas by the NRI Welfare Society for keeping Flag of India high abroad at their 37th International Congress of NRIs held in Bangkok, Thailand.

Offerings: Taxation, Accounting, Audit, Corporate Service, Immigration, Consultancy, International Tax, Foreign Exchange regulations, HR Compliance and Outsourcing.