We'll here is something that may surprise you, Dev. Even placebos can have side-effects. Meaning, literally, that a sugar pill can produce "side-effect" symptoms in a person given it if they have a strong belief that it is a potent medicine and a strong expectation that it will help them.
If a control group is given the same information about potential side-effects as the active group they may well experience those same side effects. This leads into the so-called "nocebo effect" as well. Expectation of harm or illness results in harm or illness. Expectation of a side effect, such as aspirin causing gastrointestinal problems, results in those problems. Whether it is a feature of the placebo effect or a separate affect seems to depend on what you are studying so I do not think either of these are any one effect but are a bunch of cognitive factors, including conditioning.
I bring this up because sometimes the presence of side-effects is used as evidence of some therapy having a real medicinal effect as opposed to a placebo effect. In this article I am focusing on the claims of homeopathy being completely safe. It should be mentioned, however, that side-effects are expected with any medicine. Partly this is due to the realization that they even occur after placebo administration! The presence of side effects do not in themselves indicate that a medicine is "unsafe" and the complete absence of side effects may well indicate, as you probably would surmise from this article, that a medicine ain't doing nothin.
But of course, the thing with all CAM therapies is that people have this misconception that they are completely safe by virtue of being all "natural". This is clearly not the case and side-effects from herbal therapies, especially dermatitis, are very common. Many plant chemicals can by highly hepatotoxic. There is a big risk of herb/drug interactions. And many herbs can be contaminated with heavy metals or microorganisms, insecticides.
Homeopathic medicines are not likely to produce any serious side effects because they are nothing but sugar, of course. You can feel safe about taking a homeopathic drug that uses mercury since it is so highly diluted you'll be getting tons more in your drinking water. But there is another potential problem that is brewing.
"Homeopathic" has become a brand and many herbal preparations on the internet are 'mislabelled' as homeopathic when in fact they are non-diluted herbal products. Hey, if you are into homeopathy make sure you get the real sugar pill!