How Can a Non-Resident Indian Register a Business in India?


How Can a Non-Resident Indian Register a Business in India?

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Setting up a business in India is an attractive option for many Non-Resident Indians (NRIs) because of the country's growing economy and its availability of cheap labour. However, there are some things that NRIs should keep in mind before registering their businesses in India, including complying with laws and regulations.

To help NRIs set up businesses, the government of India has introduced SPICe form, which is a simplified procedure for incorporation that follows best global practices. The form is available online and helps ensure that the process is fast and efficient.

In order to register a business in India, an NRI will need a valid passport and proof of address, such as a utility bill or bank statement. It is also important to have a Digital Signature Certificate, which is necessary for filing the required documents and declarations with the Registrar of Companies.

If an NRI is planning to set up a partnership or one-person company, he or she will need to obtain a Foreign Investment (FIR) approval from the Reserve Bank of India. In addition, NRIs who wish to invest in a private limited or public limited company may require prior approval from the RBI, depending on the sector and the type of company.

NRIs are taxed on any income that is generated in India, including capital gains from the sale of shares and dividends. NRIs wishing to form a company will need to submit the following documents with the MCA portal. They are also taxed on any interest, royalty or technical fees received from the central or state governments and on the rent paid for a property.

 

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