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Basics : Company Registration in India
Registration of Foreign Company in India is also governed by the Ministry of Corporate Affairs and the rules under the Companies Act, 2013.
These foreign businesses are allowed to work as a body corporate,
- Conducting business or trade activity of any kind in India
- Having a place of business in India under its own name or an agent's. It can also have at least a digital presence here in India
You can mark your foreign company's Indian entry either as a wholly-owned Indian subsidiary or as a Joint Venture with an Indian business entity
The management of the procedure for registering and managing a company's affairs through the official E-portal, www.mca.gov.in where the compliance under the companies act and all company formation related formalities are managed and done.
Planning to start business in India?
Sterling is a firm that deals with company registration in India. We have a team of expert professionals, CA's, Cost Accountants and Lawyers that will ensure all the legal formalities are taken care of.
If you think the process is a bit complicated, don't worry! Get in touch with us today and Sterling will take care of the rest.
Any sort of company registration has been made easier with the introduction of online legal services. Similarly, Foreign Company Registration in India is also a quick and easy procedure if you know the proper way.
Thanks to the government's improving ease of doing business and companies like Sterling, now registering your foreign company is completely hassle-free. The entire process generally takes 3-10 working days to complete.
Process of Online Company Registration in India
Under the Companies Act, 2013 and Companies Rule, 2014, the Registration of Foreign Companies will proceed in the following way,
1
Name Approval
First thing you need is Name Approval. We'll help you choose a unique and acceptable name which must not draw similarities from any existing entities.
2
Document Preparation
Next step is to apply for the incorporation. We'll help you prepare the following documents,
- Subscriber sheet of Articles of Association
- Subscriber sheet of Memorandum of Association
- Declaration by Director in form DIR 2
- Declaration of Director in Form INC 9
3
Drafting Application
The mentioned incorporation documents must be signed by the representative of the foreign company. An Authorization Letter will be required stating the name of the Authorized Person and the number of shares subscribed. It should be notarized, consumerized or apostilled
4
Issue of Certificates
Once the application is approved, you will receive a Corporate Identification Number (CIN) issued by the Registrar. The PAN and TAN of the company will also be issued and received simultaneously. The next step after company registration in India is GST certification.
Ownership (Management and Shareholding Structure)
A private limited organization must have at least two Shareholders and two Directors. An investor can be an individual or a corporate substance. Be that as it may, the Director must be an individual. Foreign nationals are permitted to become Directors of an Indian Private Limited Company. The Board of Directors of the Indian Private Limited Company must have one Director who is both an Indian Citizen and Indian Resident. Notwithstanding, there is no prerequisite for the Indian Director to be an investor in the organization. Henceforth, most foreign companies or foreign nationals want to fuse an organization in India with three Directors – two Foreign National Directors and one Indian National Director. The 100% share of the Indian Company can be held by a mix of Foreign Companies or potentially Foreign Nationals. Indian private limited companies require at least two investors obligatorily. Consequently, one corporate substance or individual can't hold all the portions of an Indian Private Limited Company.
After your company has been incorporated, we'll be applying for a PAN for your company. Sterling also has associations with leading banks like HSBC, DBS etc. to help you open a current account without visiting India.
Document Required
Register a Company in India
- Passport (counter attested by the Indian embassy) as identity proof
- Driving license, Residence card or Government-issued any form as address proof
- Utility bills copy such as Telephone bills or Bank statements (must be older than 2 months since it is absolutely necessary for the incorporation)
- Passport-sized photographs
- Additional documents (case specific)
FDI Policy in India
Foreign Direct Investment (FDI) into an Indian Private Limited Company or Limited Company is permitted up to 100% in many segments. Just not many enterprises require earlier Central Government endorsement for the venture by a foreign organization or foreign national. The accompanying ventures require Government Approval for speculation by Foreign Company or Foreign National:
- Petroleum sector (except for private sector oil refining), Natural gas / LNG pipe-lines.
- Investing in companies in Infrastructure
- Defence and strategic industries
- Atomic minerals
- Print Media
- Broadcasting
- Postal Services
- Courier Services
- Establishment and operation of Satellite
- Development of Integrated township
- Tea Sector
- Asset Reconstruction Companies
Frequently Asked Questions
The entire process of application and approval usually takes around 3-10 days in total depending on the Ministry's approval.
Indian Laws allow you to retain 100% ownership by subscribing shares of the Indian companies, so there's no need for a local shareholder. However, during the Company Registration in India, you will need a local legal partner.
Yes. The foreign entity can provide the latest Bank Statement as address proof of the Director instead of a utility bill. Just make sure your bank statement has all the latest entries.
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