Absolute Security and Facility Management Pvt. Ltd: Requirements to Start your own Security Company in India

One of the basic needs for survival is security. For average people, security may not be such a concern as for people who have a social presence. This could include famous personalities such as celebrities, actors or politicians and other such people who are known in society. Apart from security services for individuals, homes, schools, and offices along with other places need to be secured as well.

With the growth in the crime rate over the years, staying secured with the right measures is a prevention step that is almost always recommended. This is the reason for the growth in demand for private security services in India and other countries of the world. If you are considering in providing security services in Delhi, starting your own security company in Noida or Delhi and the NCR region can be a great career move.

Starting a security company in India — what do you need?

The security guard or the private security in India is estimated to be worth over INR 40,000 crores. With a projected growth rate of about 25% every year since 2015, the need for private security services has been growing for several reasons such as urbanization, infrastructural development and the growth in the crime rate. There are over 5 million security guards estimated to be in the urban cities of India with over 1500 security agencies providing the services and the industry is projected to grow by over 40% in the coming years. If you are planning to start your security company in Delhi, you can look forward to a great business opportunity while also generating employment opportunities for the needy. Here is what you need to get started.

Choice of the Business Entity: When starting a security services company, it is best to have limited liability as a protection from the inherent risks involved with this service. Hence, a limited liability partnership company or a private limited company is suitable business entity choices for a security company in India.
Tax registration: The services offered by private security guards are taxable under the Service Tax Act and hence, any security company that crosses an annual turnover of INR 9 lakhs needs to obtain service tax registration. Once registered, the company can charge an additional 12.36% service tax to the end client for the security services provided.
ESI and PF registration for the employees: The security guards are on the payroll of the security agency and hence, they are considered to be employees of the company. Hence, the security agencies need to be registered with ESI and PF authorities if the company has more than 10 employees and 20 employees respectively.
Security agency license: With the introduction of the Private Security Agencies Act, 2005, security service providers are required to obtain a license from the Controlling Authority. The Controlling Authority in most Indian States is the Police department or the Home Department of that State. If you want to start a security agency in Noida, you will need the necessary license from the Delhi Police.

To get all the above requirements sorted, you can approach any professional online service that will help you in getting your security started. This is recommended as it is easier to get it done from experienced experts than take the trouble of doing it all yourself.