India is a state with a large investment. We can say with confidence, that the country is developing precisely through the use of investments. Therefore, to open a company in India to a non-resident means to bring a small share of the future to the country. NR - such an abbreviation in India refers to non-residents (foreign citizens).
Laws in India are not very different from laws in other countries, but their features allow YB Case specialists to argue that to register a company in India you should order legal advice not only on opening an Indian business
To open a company in India is not so simple, because setting up a company in India several years ago was a serious problem for entrepreneurs, who want to start business in India. To register of startups in India is popular today, as well as the registering of IT-companies in India.
Legal advice from YB Case experts: India ranks 142th in the world in the Ease of Doing Business index and 158th in the ease of starting a business. While in recent years, business registration transactions in India have declined significantly.
- To obtain a digital signature certificate in India from the Ministry of Corporate Affairs (MCA). A time is to 2 days; the applicant fills out a Class II application, provides a copy of the foreign citizen’s ID card, a copy of the passport, a copy of the driver’s ID card.
- To obtain the director's identification number DIN in India (up to 3 people) - (INC-29). A time is from 3 days. INC-29 is an eight-page form requiring additional information and documents, some of which require signing by the secretary of the Company.
- Here you fix the name of your company (there are also separate requirements for this). The cost depends on your choice of company secretary. Together with the form, a charter and a memorandum of association are filed.
- Also, if you decide to open a business in India, you will need a registered office at any address and a lease agreement.
- Giving application INC-29. A time is 1 day. A cost is 2000 rupees (31 USD) + a registered capital tax + a stamp duty. After you register the form, you will be instructed to pay the fee in accordance with the registered capital, the stamp duty will depend on the place of registration.
The minimum authorized capital is 100,000 rupees ($ 1,570)
- 100,000 rupees ($ 1,570) - a fee is 5,000 rupees ($ 79);
- from 100,000 INR to 500,000 INR - a fee is 4,000 rupees (63 US dollars) for every one hundred thousand;
- from 500,000 INR to - 5,000,000 INR - a duty is3,000 rupees (47 dollars) for every one hundred thousand;
- from 5,000,000 to 10,000,000 - a fee is 1,000 rupees (16 US dollars) for every one hundred thousand;
- from 10,000,000 - a duty is 750 rupees (12 US dollars) for every one hundred thousand;
- A certification of company documents in the State Treasury (state) or authorized bank (private) takes 1 day;
- To obtain a Certificate of Registration from the Registrar of Companies (Ministry of Corporate Affairs) takes from 5 days;
- Making a seal takes 1 day;
- Getting a permanent account number takes from 7 days;
- To get a tax account number (TAN) for income tax takes from 7 days;
- To register in the Office of inspectors, shops and institutions (state or municipal) takes from 2 days;
- To register VAT at the Tax Office (municipal) takes from 12 days;
- A profession tax registration at the Tax Administration (municipal) takes from 2 days;
- Registration in the State Employment Fund takes from 12 days;
- Registration for health insurance in the regional office of the State Insurance Corporation takes from 9 days;
We draw your attention to the fact, that YB Case specialists provide legal support at all stages of registering a company in Asia or obtaining a license for commercial activity in India, and provide another related legal service.
- LTD (min capital - 100,000 rupees, it is agreed $ 1570);
- A public with OO;
- An unlimited company;
- A partnership with NGO;
- A partnership;
- An individual emergency;
- A representation of a foreign company;
- A subsidiary company;
- up to 10,000,000 rupees - 30%;
- from 10,000,000 rupees - 35%;
- from 10,000,000 rupees - 40%;
- from the company - 16.995%.
- from a foreign subsidiary - 15%.
If you decide to open a company in India as a non-resident, the most popular form of ownership is the first form - a private with a non-profit organization. YB Case professionals will provide you with legal assistance in setting up a company in India, opening a firm in India remotely, and also provide legal advice on opening an account in India.