| India Company Incorporation | |
India company incorporation is a useful way to take advantage of opportunities in the world's 12th largest economy depsite having limited use for international trading due to high taxes and tariffs. Points to note include: | |
1.
| Indian companies are regulated by the India Companies Act 1956, with company incorporation controlled by the Registrar of Companies at the Ministry of Corporate Affairs (MCA). The process can normally be achieved within three weeks, depending on the shareholders' and directors' ability to provide required due diligence. |
2.
| According to Indian company law, each corporate entity requires a minimum of two directors, who can be of any nationality but who must be individuals. Furthermore, two shareholders are required, who ca be of any nationality and can be either individual and corporate. |
3.
| To comply with India incorporation law, every company is required to appoint an India-resident individual company secretary, and have a registered office in India. |
4.
| Applications are filed at the MCA, along with a government company registration fee of US$100. A company is also required to inject a minimum of US$2,250 into a local corporate bank account during incorporation, which is inconvenient for some foreign entrepreneurs. However, most investors engage an India-based professional corporate consulting Firm to handle incorporation and pay government fees, including the capital minimum requirement. |
5.
| To enhance corporate transparency, the MCA has an online public register, where corporate details are available for public viewing. These include shareholders' and directors' information (for example, names, nationality and address), date of company incorporation, amount of share capital and India registered office address. |
6.
| Annual financial statements and annual corporate tax returns must be submitted to the Income Tax Department. Because Indian tax law is complex, most entrepreneurs engage the services of a professional tax Firm to assist with these functions. |
7.
| The majority of foreign entrepreneurs choose an India limited liability company (LLC) to conduct business in the country. Alternative corporate structures available include the Branch Company, Representative Office and Sole Proprietorship. For detailed information on these entities and their advantages and disadvantages, purchase our Asia Business Set Up book,contact email@healyconsultants.com or call us in Singapore at (+65) 6735 0120. |
| Contact Us | |
For more information on India company incorporation, contact email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.
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