How Foreign National’s and NRI’s can Perform Company Registration in Indiaby Ashish Pratap Garg Ahish
For NRI’s and Foreign National Private Limited Company is considered to the most ideal type of business they can start that can be start in India. It is to keep in mind that Foreign Direct Investments which is commonly called FDI are not allowed on any other company domain such as Proprietorship, Partnership Firm and One Person Company while prior approval of RBI is required for FDI in LLP. As per the norms released under FDI, the shares of the company can be subjectively owned by foreign NRI’s and FDI in Private Limited and Limited Companies are allowed through automatic route leveraging with 100 percentiles.
A private limited company registration in India is a perfect blend of a corporate form of strategical business structure and partnership. The Private Limited Company holds the most eye-catching advantage that is the Limited Liability of its members. By Limited Liability the norms clearly depict that it is the condition by which shareholders are legally responsible for the debts of a company only to the extent of the nominal value of their shares. A Private Limited Company has another advantage in regard to the flexibility of the partnership firms and the advantages associated with it such as - greater stability, better creditworthiness and separate legal entity.
A private Limited Company is an ideal way of starting and structuring startups with a higher scope of expansion as compared to partnerships. It also gets the advantage of raising capital funds from the financial institutes because of its higher stability and reliability.
Documents required for Private Limited Company Registration
With the help of executive search firm in India you not only find the best employees for your organisation but such consulting firms lead you towards your company documentation with one-time process. The documents required are:
Copy of Passport
Copy of Address proof - Driving License/Voter ID
Copy of Bank Statement/Mobile Phone/Landline Telephone Bill
Copy of Business Visa and Proof of Stay in India
For Company Address
Proof of Registered Address – Sale Deed/Rental Agreement
Copy of Utility bill - Electricity/Landline telephone/Gas Bill - not older than two months.
No Objection Certificate for use of premises, if required
There is one thing to keep in mind if your applying for a Private Limited Company by itself that all the above documents should be notarized by a Public Notary and Apostilled by the Competent Authority of the foreign country. This will allow you to get the work done in a single runtime.
Choosing a Name for your Private Limited Company
While choosing a name for your Private Limited Company there are some key points which you should not neglect. The single unwillingness can drag you to start the process and entire documentation from the beginning. So, it is better for NRI’s or Foreign National’s to take help from the consulting firms in India to drive you to the exact path without any hassle.
Private Limited Company Registration Process
It usually takes 15-20 days to register a Private Limited Company through SPICe INC-32 (A single application for Reservation of Name, Incorporation of Company and Allotment of DIN), subject to ROC processing time.
Tecnova makes it easier for you to incorporate with the Indian judiciary and completes Private Limited Company Registration easy for you in single time. Tecnova is a leading market strategy and implementation firm allows NRI’s and Foreign National’s to start a business in India. With the expertise of three decades, professionals at Tecnova assists you and understands the needs of your business and allows you to get the best out of it.
Created on Jan 23rd 2020 00:00. Viewed 647 times.