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| India Company Set Up | |||||||
International entrepreneurs often find India company set up difficult compared to jurisdictions such as Singapore and Hong Kong, because of the long timeframes for incorporation and the excessive paperwork involved. Important points to note about India company set up include:
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| 1. | India company set up applications are lodged through the Ministry of Corporate Affairs' Registrar of Companies. Official India company set up fees start at US$100 for a limited liability company. India company set up takes approximately three weeks. | ||||||
| 2. | India company set up procedures typically include i) a company name check at the Ministry of Corporate Affairs (MCA) office in the state where the company will maintain its registered office ii) filing the Memorandum of Association and Articles of Association with the MCA, along with a) a stamped declaration of compliance, b) a notice of the situation of the registered office of the company, c) particulars of the Directors, Manager and Company Secretary and d) the MCA’s company name approval. | ||||||
| 3. | Following India company set up, company details are available for public viewing at the MCA, including shareholders and directors' names and addresses.
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| 4. | Most entrepreneurs use a corporate services firm to handle all India company set up formalities. This firm will legally incorporate your company and act as nominee director and shareholder (if required), local resident company secretary and registered office, assist your firm fulfill your statutory legal obligations in India and apply for work permits for expatriate staff.
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| 5. | In general, Indian companies do not require business licenses. However, an SEZ Enterprise is an exception. Furthermore, foreign companies wishing to invest directly in Indian projects and companies require investment approval from the Foreign Investment Promotion Board (FIPB) of the Ministry of Finance. | ||||||
| 6. | An Indian limited liability company is required to prepare annual financial statements complying with Indian Financial Accounting Standards. The audited financial statements accompany an annual corporate tax return submitted to the Income Tax Department by 31 March each year.
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| Contact Us | |||||||
For more information on India company set up, contact email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.
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