Company Registration in India for NRI/Foreigners
India is one of the fast-growing economies in the world today. A Non-Resident Indian (NRI) or Foreigners possesses many opportunities for investing in India. (by Private Limited Company Registration) With faster and simplified electronic submission of documents, NRI's and Foreigners are finding it convenient to start a business in India. Private Limited Company For NRI’s and Foreigners, Private Limited Company is considered to be the ideal business type to register in India. An interesting feature is that it can be started with only two shareholders and it can have a maximum of 200 shareholders. Compliances of a Private Limited Company are simpler as compared to Public limited company. One of the directors should be a resident in India for registering a company. There is no other requirement for approval from the Government or the Reserve Bank of India for foreign directors investing in a Private Limited Company. Steps for Private Limited Company Registration In order to complete the procedure below one needs to produce copies of passport and address proofs attested at their respective Indian Embassies. Name approval Reserve Unique Name (RUN) portal will allow two suggestions for proposed company names. Other section of the portal will allow viewers to check the names of already existing companies. Name approval can also be done by filing the SPICe form (INC-32). Digital Signature (DSC) A Digital Signature Certificate is an electronic copy of a directors identity. It is certified by the agencies appointed under the Information Technology Act, 2000. All the directors of the company should obtain a DSC, which will be valid for a maximum of two years. NRI’s and Foreigners are required to submit self-attested copies of their passports, which should have been notarized by the Indian embassy. Director Identification Number (DIN) Director Identification Number (DIN) is a unique number issued by the government to a person appointed as a director in a company. Every director of a company must have an 8 digit DIN. Once acquired, a DIN never expires and won’t need any further filings. DIN applications should be signed electronically by using a DSC. Self-attested passport copies and address proof should be submitted with passport photographs of the directors. SPICe form INC-32 is a detailed online form covering the application for DIN, incorporation of a company and reservation of a company name. It requires these following documents to be attached for the filing; • Memorandum of Association (MoA) • Articles of Association (AoA) • Office address proof • Copy of utility bills • Identity proof and address of all directors • Foreign directors should submit an affidavit for not having PAN • Trademark registration certificate INC-33 will provide the electronic format of the MoA which outlines the carter of the company. INC-34 will provide the electronic format where the applicants input their AoA. Incorporate your Private Limited Company with Afleo.com. We provide proper guidance and professional help to achieve your dream of starting a company. We have a team of 100+ professionals who are dedicated to helping startups and entrepreneurs.