SETTINGUP COMPANY IN INDIA BY INDIVIDUAL FOREIGN NATIONAL
SETTING UP COMPANY IN INDIA BY INDIVIDUAL FOREIGN NATIONAL
Foreign Nationals of any country (excluding the resident of Pakistan, Bangladesh, Afganisthan, Srilanka, Nepal, Bhutan & China) can establish its place of business in India by incorporating a Company and can hold 100% paid up equity capital of the Indian Company in their name.
Following is the procedure for Incorporation of Company in India alongwith detail/documents required on each milestone:
STEP - 1: NAME APPROVAL
| S.No | Detail/documents required |
| a. | Two proposed names of the proposed Company |
| b. | Business activities of the proposed Company (please refer note below*) |
| c. | Shareholding pattern of the proposed company |
| d. | Registered office address in India of the proposed Company |
STEP 2 – DRAFTING OF DOCUMENTS FOR INCORPORATION OF COMPANY
| S.No | Detail/documents required |
| a. | Particulars of each promoter – Name, Father’s Name, Date of Birth, Address, Scanned copy of Passport, Mobile No. and email ID. |
| b. | Particulars of each Directors – Name, Father’s Name, Date of Birth, Address, Scanned copy of Passport, Mobile No. and email ID. |
| c. | Particulars of Indian Nominee Director – Name, Father’s Name, Date of Birth, Address, Scanned copy of PAN Card & Aadhar Card, Mobile No., email ID & DIN. |
| d. | In support of address of each director/promoter: Utility bill/ Bank Statement. |
| e. | A detailed note on business activities to be undertaken by the company immediately after incorporation and thereafter |
| f. | Particulars of the Banker in India |
STEP 3 – SUBMISSION OF REGISTRATION APPLICATION TO THE GOVERNMENT AGENCY.
| S.No | Detail/documents required |
| a. | Digital Signature of one of the foreign director |
| b. | Passport size photograph of each promoter/director |
| c. | Notarized and Apostile copy of passport and address proof of foreign promoter director. |
| d. | Notarized and legalized copy of Memorandum of Association, Articles of Association and other incorporation documents of the proposed Company executed outside India |
STEP 4 - POST INCORPORATION COMPLIANCES
| S.No | Detail/documents required |
| a. | Copy of rent agreement about the situation of Registered office of the Company |
| b. | Submission of Declaration of Commencement of Business to ROC in E-from INC20A |
| c. | Form FCGPR with the Reserve Bank of India (RBI) for allotment of shares to subscribers to Memorandum of Association of Indian Company |
| d. | Application for GST registration if needed |
| e. | Application for Importer Exporter Code (IEC) License for Export Import business. |
| f. | Bank Account opening application form alongwith Board Resolution of Indian Company. |
*FDI in following Activities is prohibited:
a) Lottery Business including Government/private lottery, online lotteries, etc.
b) Gambling and Betting including casinos etc.
c) Chit funds
d) Nidhi company
e) Trading in Transferable Development Rights (TDRs)
f) Real Estate Business or Construction of Farm Houses
‘g) Manufacturing of cigars, cheroots, cigarillos and cigarettes, of tobacco or of tobacco substitutes
h) Atomic Energy and Railway operations (other than permitted activities mentioned in para 5.2 of FDI Policy).
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