How to setting up business in India

Please see Stepwise procedure for incorporating a company for Foreigners:

  • Company formation in India is governed by Indian Companies Act, 1956.
  • Companies Act, 1956 is gradually being replaced in phased manner with Companies Act, 2013. Ministry of Corporate affairs is enforcing the provisions of Companies Act 2013 in phased manner.

Detailed Procedure on Incorporation of Company is Stated Herewith

  • Obtaining Director Identification number.
  • Obtaining Digital Signature Certificate.
  • Application for name availability.
  • Incorporation of Indian company by filing of various forms with Ministry of Company Affairs. (MOA & AOA & Form INC7, INC 22 & DIR 12)
  • Obtaining PAN & TAN Number.
  • Registration under local authority for Shops and Establishment Act.
  • Opening a Bank Account and receiving Share capital.
  • Submission to Reserve Bank of India for foreign ownership of shares of Indian company. (FCGPR filing) (http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=8742&Mode=0)

RBI Approval for investment by foreign Nationals:

For certain business RBI approval is required for investments of Foreign nationals. However the present business of Mr. Jeroen Kerkhof not fall under approval route and automatic route is permitted.

Requirements for Nonresident Directors

1. Foreign nationals shall select the nationality as declared in the passport.
2. Passport number is mandatory for foreign nationals.
3. In case, the country selected is other than India, and you do not have PIN Code, enter ‘NA’. In case of foreign nationals, state can be mentioned in address/ city.
4. Passport is a mandatory requirement for proof of identity.
5. Address proof should not be older than 1 year from the date of filing of the e Form.
6. In case of proofs which are in languages other than Hindi / English, the proofs should be translated in Hindi / English from professional translator carrying his details (name, signature, address) and seal. In the case of foreign nationals, translation done by the notary of home country is also acceptable.
7. In case, the director is residing outside India, then the attached supporting documents should be attested by the following:
a. Consulate of the Indian Embassy,
b. Foreign public notary or
c. Company secretary in full time employment / CEO / Managing director of the Indian company in which he / she proposed to be a director.

Services of Rayvat Accounting:

We shall provide complete services on all of the above and incorporate the company as per Indian regulations.

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