Documents Required To Open A Company For NRI In India

With over 20 million population and with investment size of over US $ 4000 million in last 10 years, NRI played an important role in Indian Growth History.NRI means Non Resident Indian are those individuals though citizens of India but are residing outside India. Indian legal system has set different set of laws for NRIs. NRI always want to start business in India but when they came into legal documentation,the internet or anywhere,which always put,what an Indian needs documents are fairly enough to make them confuse. This piece of writing will let you know a checklist of the documents which are required to open a company in India for the NRI’s.

The very first step towards opening a company, it is important to understand about the legal structure about the company like how many type of legal entities can be registered in India.

In India mainly there are 5 types of legal entities:-

1. i) Sole Proprietorship Firm: – It is a sole trader or simply a proprietorship, is a type of business entity that is owned and run by one natural person and in which there is no legal distinction between the owner and the business.
2. ii) Partnership Firm: – It is the relation between the persons who have agreed to share profits of the business carried on by all of them acting for all.

iii) One person Company: – It is the company run by just one person.

iv)Limited Liability Partnership: – It is a partnership in which some or all partners have limited liabilities. It therefore exhibits elements of partnerships and corporations.

1. v) Private Limited Company: -It is a type of privately held small business entity. This type of business entity limited owner liability to their shares, limit the number of shareholders to 50, and restricts shareholders from publicly trading shares.

The most favored options are option iv) and option v) because in any other cases theyhave to be the resident in India and they are not proper companies. So we will be discussing about the documents required taking in consideration the private limited company and limited liability partnership firm for the Non Resident Indians.

The required documents are: –

• First of all, apply for DSC and DIN.
• Copy of passport copy which must be attested by consulate of Indian Embassy Or foreign public Notary.
• Copy of driving license /bank statement or electricity billcopy or any property tax payment receipt which is attested by consulate of Indian Embassy or foreign public notary.
• Latest photograph in JPG format.
• Current occupation, email and mobile number with education qualification.

INFORMATION REQUIRED FOR THE NAME APPROVAL

• Amount of share capital.
• Proposed shareholding ratiobetween the promoters.
• A paragraph on the proposed major line of business of the company.
• Full address of the registered office of the company with the address of the nearest police station.
• Copy of NOC (No Objection Certificate) from the owner of the registered office.
• Copy of latest electricity bill/ telephone bill/bill of the registered office.

So, these are the documents which are required to open a company in India by the non residents Indians.

To register company click here

Author: This blog is written by Ms. Deepali Singh, student of Vivekananda Institute of Professional Studies, a passionate blogger & intern at  Aapka Consultant.

How Aapka Consultant can help you:-

• Get free expert consultancy from experts.
• We available every time to solving your legal queries.
• Get one stop solution for all legal compliances.
• Process application within 24 Hours.
• Trusted by Most Valuable Startups.
• We Understand Startup Budget & their needs.
• Get quality services at pocket price.

Visit: Aapka Consultant to get Online Services of CA CS & Lawyers.