Private Security Agency business is one of the most sought and rapid growing business in India with huge demand and potential. Due to ever evolving demand for private security by industry & business segments, the Private Security Agency business is growing for more than 20% and there is still huge untapped market still wide open for the future ventures.
Today in any and every aspect, private security has an important role to play, whether its transfer of cash to ATM, transportation of valuables or protection to key members of business conglomerates.
Any Private Security Agency cannot commence its business and operations in India without procurement of license under Private Security Agencies (Regulation) Act, 2005 also known as PSARA License.
PSARA License is obtained state wise & is valid for 5 years and had to be renewed after every 5 years. The government fees for PSARA License is as following:
1. For one (1) District- Rs. 5,000/-
2. For more than one (1) and upto five (5) Districts- Rs. 10,000/-
3. For the entire State- Rs. 25,000/-
PSARA License can be procured by only an Indian Company, Firm or Association of People.
The Private Security Agency need to start or commence its operations within six (6) months after procurement of PSARA License.
The Private Security Agency beside providing security guards can also impart training & skill development to the security guards.
The Private Security Agency need to work in collaboration with local police and need to be in compliance with laws, so that they should not violate any applicable laws while providing security to their clients.
The Private Security Agency needs to appoint supervisors as per the applicable laws and qualification requisite.
To know further details about Doing Business of Private Security Agencies in India or any other legal aspects including legal structure, compliance, licenses, approvals, tax and for any other query w.r.t. private security agency business/PSARA License, please connect with us at firstname.lastname@example.org / +918448824659
Published Date: January 22, 2019
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.