How Can a Non Resident Indian (NRI) Register a Business in India?
How Can a Non-Resident Indian (NRI) Register a Business in India?
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As India has one of the largest and fastest-growing economies in the world, it is a popular destination for business. Many NRIs wish to tap into this market and start a new venture. However, they are often unsure about how to go about it. In this article, we will look at some of the key things that a NRI should keep in mind when starting a business in India.
The NRI registration process starts with opening a bank account with an Indian bank and obtaining a digital signature certificate. Then the company needs to register with the Ministry of Corporate Affairs. During the registration, the company needs to provide proof of address and identity, a declaration form, and other documents. The documents have to be attested by a public notary or the Indian Embassy in the country where the NRI lives.
After the company is registered, it can start investing in India by forming a private limited or LLP company. It can do this either by the automatic route or by seeking RBI approval. During the process, the company will have to comply with FEMA, FDI, and RBI guidelines.
An NRI can become a director in a private limited or LLP company. But before that, he or she needs to obtain a DIN. The DIN is a unique number that is allotted to directors. NRIs wishing to form a company will need to submit the following documents with the MCA portal. There are some processes that need to be followed for obtaining a DIN, such as having a valid passport and not being involved in any criminal activities.
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