How Can a NRI Register a Business in India?


How Can a NRI Register a Business in India?

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As the economy grows India has attracted a lot of investments from NRIs and foreign nationals. Many of them want to start their own companies in the country and tap into the booming entrepreneurial opportunities. With the advent of digital technologies and ease of doing business, establishing an Indian company has become easier than ever. However, NRIs should keep in mind certain registration compliances and follow the right procedures while setting up their ventures in India.

NRIs can invest in a Proprietorship Firm or Partnership Firm provided they comply with the laws and regulations of the country. They need to register for taxes and obtain permits, adhere to labor laws and maintain safety standards. NRIs can also set up a Private Limited Company or a Limited Liability Partnership (LLP). Foreign Direct Investment is permitted in both these types of companies unless specified otherwise.

In order to become a director in an Indian company, NRIs, PIOs and foreign nationals need to first get a DIN (Director Identification Number). A DIN can be obtained after producing a valid digital signature certificate which needs to be attested by the relevant embassy or consulate of the country in which they reside.

Besides the above, NRIs and foreign nationals can also form a One Person Company (OPC). While OPC is nothing but a glorified proprietorship concern, it still gets a formal incorporation certificate from the ROC. NRIs can even convert their OPC into a private limited company or a public limited company voluntarily.

 


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