1. Obtain Digital Signature Certificate (DSC) and Director Identification Number (DIN):
- Like Indian residents, NRIs who wish to become directors of the company need to obtain a Digital Signature Certificate (DSC) and Director Identification Number (DIN). These are required for online filing of registration forms.
2. Choose a Business Structure:
- Decide on the legal structure of the company, such as Private Limited Company, LLP, or OPC, based on your business requirements.
3. Appoint an Authorized Representative:
- NRIs are required to appoint an authorized representative who is a resident of India. This person will act as a liaison between the company and regulatory authorities in India.
4. Name Reservation and Approval:
- Choose a unique name for the company and check its availability on the MCA website. Apply for name reservation with the Registrar of Companies (ROC).
5. Draft and File Incorporation Documents:
- Prepare the Memorandum of Association (MOA) and Articles of Association (AOA) of the company, along with other necessary documents. File these documents with the ROC.
6. Certificate of Incorporation (COI):
- Once the ROC is satisfied with the submitted documents, they will issue the Certificate of Incorporation (COI), officially establishing the company.
7. Obtain Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN):
- After obtaining the COI, apply for the company's Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) with the Income Tax Department.
8. Open a Bank Account:
- Open a bank account in the company's name with a bank in India.
9. Comply with Other Statutory Requirements:
- Comply with other statutory requirements such as Goods and Services Tax (GST) registration (if applicable) and any other applicable licenses or permits for the specific business activity.
10. Maintain Compliance:
- Ensure ongoing compliance with the regulatory requirements and annual filing obligations to keep the company in good standing.
11. Seek Professional Assistance (if needed):
- If you find the registration process complex, consider seeking help from a qualified professional, such as a company secretary or chartered accountant, to ensure accurate compliance with the regulations.
It is essential for NRIs to be aware of the Foreign Exchange Management Act (FEMA) provisions and the Reserve Bank of India's guidelines concerning investments and shareholding in Indian companies. Proper compliance with these regulations will help NRIs establish and run a company in India smoothly.
? Do NRIs Need Startup India Registration to Start a Business in India? India has become a thriving hub for entrepreneurial ventures, attracting not only domestic entrepreneurs but also Non-Resident Indians (NRIs) who want to explore business ...
Limited Liability Partnership (LLP) Registration in India Limited Liability Partnership (LLP) has become a preferred form of organization among entrepreneurs in India. An LLP incorporates the benefits of a partnership firm and a company. As the name ...
? Can Foreign Investors Avail Startup Tax Exemptions in India? India’s Startup India Scheme, launched in 2016, has fueled the growth of innovative businesses by offering tax exemptions, funding opportunities, and easier compliance. While these ...
Private Limited Company Registration Consultants Near Me A Private Limited Company (PLC) is a popular option for starting a business in India which can be done by consultants near you. It provides founders with benefits such as limited liability ...
DSC is an established digital instrument for digital document signing and data storage. Many government departments and other service sectors have relied on DSC's usability and key capabilities for signing electronic documents. It offers multi-level ...