If you are a foreign citizen and wondering if you can incorporate a company as per the Companies Act, 2013 in India. The answer is YES !!....
In this article we will discuss why incorporating a company for foreign citizens is a smart idea and what are the basic requirements and procedure for the same.
Why Incorporate A Company?
Foreign citizens can incorporate their business in India in forms like Partnership Firm, Limited Liability Partnership, company registration etc. But registration is the most preferred type of business model for foreign citizens in India. The reason behind that is that 100% foreign direct investment is allowed at the time of Company Registration in India. No RBI compliances are required to be done at the time of incorporation if any capital is invested by the foreign shareholders.
What Are the Documents Required from Foreigners?
Both an individual, as well as a body corporate, registered outside India can become a shareholder in Indian Company as per Companies Act, 2013. Following is the list of documents required for company registration procedure.
If you are a foreign citizen and wondering if you can incorporate a company as per the Companies Act, 2013 in India. The answer is YES !!....
In this article we will discuss why incorporating a company for foreign citizens is a smart idea and what are the basic requirements and procedure for the same.
For an Individual
For company registration in India following documents are required to be submitted by a proposed individual shareholder;
- Passport of a foreign citizen
- Address proof like electricity bill, phone bill, bank statement etc. It must not be older than 2 months at the time of submission.
- Passport size photograph
For a Corporate Body
For company registration in India following documents are required to be submitted by a proposed corporate shareholder;
- Incorporation Certificate
- Copy of it incorporation document
- Resolution authorizing an individual as representative
- ID and Address proof of representative
Apostle Requirement for Documents
Every document submitted by foreign citizens or foreign corporate bodies are required to be;
- Apostilled by prescribed authorities of their country if the country is covered by the Hague Convention.
- For Commonwealth countries, the normal notary will suffice
- And for countries other than Commonwealth countries which are also not covered under the Hague Apostle Convention are first required to get the documents notarized then get then certified from the prescribed authorities.
