Benefit of Starting a Business in India by a Foreign Nation NRI


Benefit of Starting a Business in India by a Foreign Nation NRI

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As one of the fastest growing economies in the world, India has become a preferred investment destination for NRIs, Foreign Nationals and foreign companies. Its booming economy is backed by a huge pool of talent and cheap labour, both of which make it very attractive for businesses to set up operations here. The government also encourages foreign investment as it further fuels the growth of the economy.

However, it is important for non-resident Indians to keep certain things in mind when setting up business in India. This includes registering for taxes, complying with labor laws, obtaining licenses and permits, etc. To help them with the process, several online services have been established that assist with setting up and running a sole proprietorship in India. These services can be accessed from anywhere in the world using a computer or mobile device.

NRIs can register a private limited company in India, however, it is advisable to seek the assistance of a professional consultant in order to ensure all paperwork is properly filled out and filed. It is also essential to have a digital signature certificate (DSC) in order to file documents and declarations electronically.

NRIs can also start a partnership or a one-person company in India, but this must be done under strict guidelines and only through inward remittance into their NRE/NRO/FCNR accounts, or by receiving prior permission from the government. Then, they must register the business with the Ministry of Corporate Affairs (MCA). 

 

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