Company Incorporation for NRIs & Foreign Nationals

Introduction

Company Incorporation for NRIs and Foreign Nationals in India has become a popular opportunity. However, there are certain guidelines included which individuals must follow to incorporate a Company in India. The documents for NRI and Foreign National vary from each other for incorporating a company in India. In this article, you’ll get complete detail related to documents required and procedure for incorporating a company in India.

Key Consideration for Company Incorporation for NRIs & Foreign Nationals

There are some prerequisites that should be kept in mind while incorporating a company for NRIs & Foreign Nationals in India. These are as follow:

1. Directors:

Before applying for Company Incorporation, NRIs or Foreign Nationals must obtain DIN & DSC i.e, Director Identification Number and Digital Signature Certificate. This DIN & DSC are two essential documents which are required in order to become a director of an Indian Company as per Companies Act, 2013. Also, to start a private limited company in India for NRIs and Foreign Nationals, minimum two directors are required and for Public limited company there must be three directors. Also one of the directors must be an Indian Resident to start a company in India for NRIs & Foreign Nationals.

2. Members:

There should be at least two members and maximum 200 members are required to start a private limited company. However, in the case of a public limited company, minimum 7 members are required and there is no upper limit for members in a public limited company.

3. Shareholders:

The NRIs and Foreign Nationals can hold the shares in an Indian Company as per the FDI Guidelines. It is too simple to Obtain shares ownership by NRIs & Foreign Nationals in an Indian Company because RBI allows 100% FDI in automatic route in India.

4. Office Address:

Another thing to keep in mind is the office address. NRIs & Foreign Nationals must have an office address to start their company in India. If the office is a rented property or on lease then the rent agreement or NOC, with Utility bill of that address, from the owner must be required as an office address proof respectively.

Documents Required for Company Incorporation for NRIs

Following is the list of documents required for company incorporation for NRIs & Foreign Nationals:

1. If the Foreign Nationals residing in their home city:

• Passport for Identification is required
• Any Address Proof is required such as Driving License, Bank Statement or any utility bill older than 2 months.
Note: All the above mentioned documents must be notarised by a Public Notary and be apostilled by the competent authority from their residing country.

2. If the Foreign National residing in India:

• Resident Permit is required
• Passport for Identification is required
• Business Visa is needed for verification
• Bank Statement or any Utility Bill not older than 2 months is required.
Note: All the above documents must be attested by the consulate of the Foreign Embassy in India.

3. In case of NRIs:

• Identity Proof
• PAN Card
• Aadhar Card, Driving License, Voter ID (any one)
• Current Address Proof not older than 2 months such as Driving License, Bank Statement or any utility bill.
Note: The current address must be notarised by Public Notary in the residing country and apostilled by the Indian Embassy in Foreign Country.

Company Incorporation Process for NRIs

In order to Incorporate a company for NRIs & Foreign Nationals, follow these steps as given below:

• Step 01: Obtaining DSC & DIN

In order to incorporate a company in India, NRIs and Foreign Nationals must obtain DSC (Digital Signature Certificate) & DIN (Director Identification Number) for all the directors of the company.

• Step 02: MCA Portal Registration

Once you obtain DSC & DIN for all the directors, register yourself on MCA Portal by using basic details.

• Step 03: SPICe+ Form Filing

On Successful registration on MCA Portal, file SPICe+ form for Incorporation of your company in India.

• Step 04: Upload Required Documents

Upload all the required documents depending on NRIs & Foreign Nationals (Residing in India or not). These documents vary for NRIs & Foreign Nationals.

• Step 05: MoA & AoA

Once you upload all the required documents, file e-MoA and e-AoA online on the portal.

• Step 06: Final Verification

After uploading all the documents along with AoA & MoA, final verification will be conducted by MCA and on the successful verification, you’ll get your Incorporation Certificate.

Why Bizfoc?

BizFoc will simplify the Incorporation procedure for NRIs & Foreign Nationals in India under the professional guidance. Here’s how we assist you:

• We provide you with expert assistance and consultation for all your requirements that are required for your Company Incorporation in India.
• BizFoc also helps you to obtain an Incorporation certificate without any hurdles.
• Our team reviews each and every requirement accurately and fills out the SPICe+ form for the final submission.
• We provide affordable and transparent professional charges.

Conclusion

Company Incorporation in India for NRIs & Foreign Nationals is one of the complex processes. It includes various documents in the filing process. It is advised to take the help of a consultant for easy filing of the SPICe+ Form. Also, multiple documents such as DSC, DIN need to be obtained before starting the Incorporation Process. Also, there are some prerequisites that need to be completed by the company such as minimum directors, shareholders & members. The process of Company Incorporation for NRIs & Foreign Nationals in India can be a complex process but includes various benefits as well.

Frequently Asked Questions (FAQs)