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Setting Up Subsidiary Company In India
India is an open market and majority of sectors, foreign investment is allowed with repatriation benefits (the profit and investment is allowed to take back in investor’s currency). India has consistently been classified as among the most attractive investment destinations by reputed international rating organizations. With its highly-skilled and cost-effective manpower, it offers immense opportunities not only for Business Process Outsourcing, but increasingly for the higher end of the value chain in Knowledge Process Outsourcing and Engineering Process Outsourcing.
Foreign Direct Investment (FDI) is allowed in all most all sectors under automatic route (without previous approval of government). If proposed activity of an investor fall into an item marked for automatic route, the investors are freely allowed to setup Company in India for starting the business.How we Helps International Clients in setting up Companies in India.
We have a team of business setup professionals and corporate law professionals having over 11 years experience in business setup services and consulting. Our vast experience in business setup services ensures the delivery of service on time at an affordable price.
Why us :
We are the ideal partner for business setup service and regularity compliance services.
Setting up of a company in India
A foreign national or foreign company, before planning to setup a company, need to look into the Government of India Policy and ensure that, proposed investment are within automatic rout. Our experienced business consultants, can advise you on this. After having an understanding of FDI policy in respect of the proposed investment, one can go ahead with setting up of company in India following the steps as narrated below.
Minimum Requirements for Opening a company in India
A company formed by minimum two persons as shareholders having the following features:
The shareholders can be foreign company, individual (Foreign Citizen or Indian Citizen) or Indian Companies or combination foreign company, individuals or Indian company. The proposed directors must be only individuals (Indian or foreign citizens). As per the Indian law, to become a director in an Indian company, one has to obtain Directors Identification Number (DIN)
Steps involved in Setting up of a company
Other Compliance and Registrations
Every company need to apply for PAN and TAN (Tax numbers) this can be applied immediately after incorporation. Usually it takes 1 to 2 weeks
Opening a Bank Account
After making application for Tax number, company can apply for Bank account with any of the Bank in India. Opening of account usually happen 3 to 5 days
Capital Remittance to the Company Account
The subscribers (first shareholders) shall remit the value of shares subscribed to the company account immediately after opening the bank account. If foreign shareholders are involved, they need to remit into the bank account, in foreign currency for the shares taken. Also Indian company need to intimate Reserve Bank of India, regarding receipt of investment from foreign company/citizen.
File Return with Reserve Bank of India (RBI)
As per RBI regulation, if Indian company issue shares to foreign company or foreign nationals etc, after issue, within 30 days, company is required to file return with RBI.
Apply for Shop and Establishment Registration
Immediately after taking an office, company need to apply for shops and establishment registration
Apply for Professional tax Registration
It is a labor law registration and it is required to be taken immediately after setting up an office.
VAT (Value Added Tax) Registration
VAT registration is mandatory for those companies deal in goods. A company after setting up of office can apply for this registration to the respective local VAT authority.
Import & Export Code Number
After obtaining PAN, a company intended to do import or export need to apply for IE code. Usually it takes 7 days for allotment.Do you have a specific query?
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