India Company Registration
An NRI or a foreign national can register a company in India in 10-15 working days. Settle My Tax also assists with Bank Account Opening. The Indian Company formation is a completely online process and you do not need to visit India to register your company.
NRI ( Basic )
Annual return filing, income tax return filing, secretarial practice, accounting, and compliance management for a Foreign subsidiary company with a turnover of less than Rs.10 lakhs per annum.
NRI ( Standard )
Annual return filing, income tax return filing, secretarial practice, accounting, and compliance management for a Foreign subsidiary company with a turnover of less than Rs.50 lakhs per annum.
NRI ( Premium )
Annual return filing, income tax return filing, secretarial practice, accounting, and compliance management for a Foreign subsidiary company with a turnover of less than Rs.100 lakhs per annum.
Indian Company Registration by Foreigners/Non -Indians/NRI
Any personage not resident in India or foreign citizens can register a corporation in India. Indian company registration is the choicest way to do the following activities in India:
- IT company
- Back office for technology companies and Offshore software development center in India
- Hiring employees in India
- Marketing online on Amazon in India
- Importing or exporting goods in India
The Indian Company formation process is completely online. Indian company registration can be completed in 20 days. Our package includes assistance in the bank account opening.
What are the prospects available for International/Foreign Companies to commence a Business in India?
|Branch office||Subsidiary Company||Liaison office|
|Minimum Requirements||An Indian resident to head the branch office||2 Directors ( at least 1 should be an Indian resident)
2 Shareholders ( all can be foreign nationals)
|An Indian resident to head the liaison office|
|Permitted Activities||–Rendering technical support to the products supplied by parent/ group companies.
–Endorsing technical or financial collaborations between Indian companies and a parent or overseas group companies.
|All activities possible including production and trading in India, head office for IT companies, or selling online in India||– Representing in India the parent company/group companies.
– Acting as a communication channel between a parent company and Indian customers
|Disadvantages||Cannot provide all kinds of services to its parent company and Stringent requirements to setup.
|No Disadvantages||Can not hire employees to provide services to the parent company|
|Our comments||Suitable for equipment suppliers in India to provide after-sales services in India||This is the most suitable structure for those wanting to start a business in India
|Suitable for shipping and airline companies in India|
What are the conventionalities post-formation of the Indian Company?
Bank Account opening
Inaugurating a corporate account in any of the banks in India is mandatory after company incorporation in India. The major banks you may consider are HSBC, DBS, Citi Bank, Standard Chartered, HDFC, etc. Now to fulfill the norms of KYC, many banks demand the physical presence of the company stakeholders for opening a corporate bank account.
Certificate of Incorporation
The Registrar of Companies i.e. will send an email validating the successful establishment of the company. It also includes the company registration number, and it is treated as the official certificate of incorporation in India.
Obtain Business Licenses and Permits
It all depends on the business activities whether you need to receive one or more business licenses and permits for your newly incorporated company. Notably, licenses must be acquired before commencing business operations. Not every company requires licenses. Luckily, only a few business activities such as restaurants, educational institutes, cleaning businesses, travel agencies, financial services, import/export of goods need to secure the business license.
Goods and Service Tax (GST) Registration
It is an indirect tax levied on the consumption of goods and services. In many other countries, GST is also called VAT (Value Added Tax).
After the registration of your new company, you need to consider the following items or documents:
- Company’s Stamp: The company’s rubber stamp is mandatory to certify the company documents company’s document. It has the name and registration number of the company engraved on it
- First Board Resolution: The resolution to appoint administrators and other company officials like an auditor, the company secretary, etc.
- Share Certificates: The company administrator must issue share certificates to each of the shareholders. It serves as proof of their own in the corporation and shows how share has been distributed among the shareholders.
What will be the payroll and another acquiescence cost that a foreign company will incite after the establishment of their company in India?
The following compliances are mandatory for any foreign company registered in India:
- Book Keeping – Bookkeeping can be executed working with Quick books or local accounting software called Tally.
- Payroll Processing – This is one of the major activities for the IT company.
- GST Filing – Every company is required to file regularly GST returns. In some countries, GST is called VAT.
- Income tax return – Every year an Income tax return has to be completed. The tax to be paid is 25.17% on the total profits.
Tax Rate to be Consolidated in India after Incorporation of the Companies!
The income tax rate for businesses registered in India by immigrants is 25.17% on the profits earned throughout the year. Incase of subsidiary companies providing services to their parent company a margin of 7-15% is mandatory.
Since the latest reformation, the dividend distribution tax is not applicable and 100% of profits after tax can be repatriated to the parent company.
We also provide Services like Tax Filing, Payroll, and Book Keeping after Registering the Company.
After the company establishment, our experienced team of chartered accountants and company secretaries assists you with all the compliance. We guarantee a 100% legally compliant company.
|Payroll||Tax filing||Secretarial Compliance||Book Keeping||Statutory Audit|
|When you hire employees it’s obligatory to hold proper agreements in place.
We assist you with sketching agreements and monthly payroll processing like the problem of pay-slips etc.
|Every foreign subsidiary is obligated to have a GST registration. The tax return is to be filled every month and income tax returns every year.
We assist you with all the required tax filing.
|Every company is required to file an annual report with a government like AOC 4, MGT 7, and ADT 1.
Our team of company secretaries will assist you with this.
|Settlemytax assists you with bookkeeping services in accounting systems like XERO, Quick books, or tally.
Your appointed manager will send a monthly cash flow statement for your review.
|Every company is required to get the books audited by a chartered accountant every year.
Our team of chartered accountants ensures that it’s done in time
Why is Settle My Tax best for your Company's Formation in India?
End to end Business Composition
Setting up your Indian entity is simple with us;
- We help you choose the most suitable structure and city.
- We then prepare all the documents and submit them to the concerned jurisdictions
- We serve you with the bank account opening and all other labor law registrations.
- Once you commence your business we assist you with legal compliances
Advice on which Indian state and entry method to register
So you dodge costly mistakes.
Navigate India Bureaucracy
Our team deals with Indian officialdom on your behalf
Registration and Embodiment
Expert guidance from your India market entry consultant to get the necessary registrations
A temporary or permanent address
Stable and fit-out real estate when it suits you.
Complete Indian company Formation solution
So you can hit the ground running.
Flexible aftercare kits
We manage your first board meeting in India after Indian Company Formation with Settle my Tax.
The list of the documents which will be needed for the foreign nationals and foreign companies to form a corporation in India are as follows:
Documents of a Foreign National :
|Proof of Identity||Copy of passport duly attested foreign notary and apostilled|
|Proof of Address||Any utility bill not older than 6 months duly
attested foreign notary and apostilled
Documents of Foreign Company :
|Registration Certificate of a company||Duly attested by a foreign notary and apostilled|
|Board resolution for investment in the Indian company. It should also mention the details of the representative owner in an Indian company||Duly attested by a foreign notary and apostilled|
Documents for an Indian Director :
|Pan Card||Copy of PAN card|
|Proof of address||Copy of Passport|
|Proof of Identity||Copy of electricity bill/mobile bill/bank statement or telephone bill not older than 2 months
Apart from these documents we need the following documents which will be prepared by us. All these documents are also required to be notarized and apostilled.
- Digital Signature application form
- Affidavits and declaration from directors and shareholders
- MOA and AOA