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Business Setup by Foreign Entity

Setting up a business in India as a non-resident or foreign entity involves multiple legal steps from company incorporation and PAN/TAN application to RBI/FEMA compliances and GST registration. GetMyCA’s experts guide you through every step of the India market entry process.

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India Market Entry:Company Incorporation • PAN & TAN • Bank Account • GST Registration • RBI Compliances • Import/Export Code

Steps Required for Setting up Business Entity

Setting up a business entity in India as a foreign entity or non-resident involves 6 key steps. GetMyCA handles the entire process from legal entity registration and RBI compliances to GST registration and Import/Export Code.

1
Registration of Legal Entity
2
Apply for PAN and TAN
3
Opening a Bank Account
4
Apply for Import/Export Code
5
RBI Compliances for Foreign Investment
6
Obtaining GST Registration

Important before you begin: Foreign Direct Investment (FDI) into India is permitted under two routes Automatic Route (most sectors, no prior approval needed) and Government Approval Route (restricted sectors such as defence, media, pharmaceuticals above 74%). Verify your sector's FDI route before incorporation. Source: DPIIT Consolidated FDI Policy.

Step 1: Name Reservation for Registration of Private Limited

The following details are required for the name reservation of a company (Private Limited) :

S.NoDocument / RequirementRemark
1.Proposed Company NamesProvide two proposed names for the Indian entity, adhering to the naming guidelines of the Registrar of Companies (ROC).
2.Incorporation Documents of Foreign EntityArticles of Incorporation and Certificate of Incorporation of the foreign parent entity.
3.Board Resolution of Foreign EntityBoard Resolution from the foreign entity authorising India company incorporation, in the format specified by the ROC.
4.Apostille of Board ResolutionBoard Resolution must be apostilled by relevant authorities in the country where the foreign entity is registered.
5.Registered Office DetailsProposed state and address of the registered office of the Indian entity.
6.Shareholding StructurePercentage of shareholding for each shareholder. Minimum 2 shareholders required. If shareholders are legal persons, nominee details required.
7.Capital StructureDefine the authorised share capital and paid-up share capital. There is no prescribed minimum paid-up capital for a Private Limited Company in India under the Companies Act, 2013 (as amended in 2015).
8.Director DetailsNames, addresses, nationality, occupation, and passport copies of all directors. At least one director must be a resident of India (stayed in India for ≥182 days in the previous calendar year) mandatory under Section 149(3) of the Companies Act, 2013.
9.Document ApostilleAll documents from foreign countries must be apostilled by relevant authorities in the country of origin.
10.Additional DocumentationAny additional documentation required by the ROC or regulatory authorities during the registration process.

Step 2: Documents Required After Name Reservation

The following documents are required after reservation of the company name :

S.NoDocument / RequirementDetails
1.Registered Office Proof
  • Rent agreement or lease deed for the registered office premises.
  • No Objection Certificate (NOC) from the property owner to use the premises as registered office.
  • Any utility bill (electricity, water, or property tax receipt) in the name of the property owner or company, confirming the address.
2.Director and Shareholder Information
  • Proof of identity for all directors and shareholders:
    • Self-attested copy of PAN card.
    • Self-attested copy of Aadhar card.
    • Self-attested copy of Passport or Driving License (for foreign citizens).
    • Passport size photographs.
    • Proof of address (utility bill or bank statement not older than two months).
  • Director Identification Number (DIN) for directors, if available.
  • Details of educational qualifications and occupations.
  • Mobile No. and Email ID.
3.Digital SignaturesDigital signatures of directors for filing incorporation documents electronically (if available).
4.Object Clause of CompanyA detailed object clause of the company is required.
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Step 3: Registration of Reserved Name

The following documents are required for registration of the reserved company name :

S.NoDocument / RequirementDetails
1.MoA and AoADraft Memorandum of Association and Articles of Association defining the company's objectives, business activities, and rules for its internal governance.
2.Form INC-9Declaration by each subscriber to the memorandum in the format prescribed by the Companies Act.
3.Other Documents
  • Consent and declarations from directors and shareholders.
  • Certificates of incorporation or registration of foreign entities (if applicable).
  • Any other documents requested by the Registrar of Companies (RoC) during the incorporation process.
Important Note
Documents originating from a foreign country must be apostilled by the relevant authorities in the country of origin. For digital filing via MCA SPICe+, all directors sign using their Class 3 DSC electronically physical courier to India is required only when the ROC specifically requests original apostilled documents. GetMyCA will guide you on which documents require physical submission versus digital upload.

Timelines for Setting Up Business Entity

The approximate timelines for starting a business entity by a foreign entity/individual are as follows:

S.NoStepEstimated TimelineRemarks
1.Registration of Legal Entity4-8 weeksDepending upon document apostille in the parent country and courier to India.
2.Apply for PAN and TANAlong with Step 1Will be done simultaneously with Step 1.
3.Opening a Bank Account1-2 weeksCan be initiated after completion of Steps 1 and 2.
4.Obtaining GST Registration (if required)2-4 weeksCan be initiated after completion of Steps 1 and 2.
5.RBI Compliances for Foreign InvestmentVariesCan be initiated after Step 3.
6.Apply for Import/Export Code2-3 daysCan be initiated after Step 3.
Note
Timelines are approximate and depend on document apostille turnaround in the parent country, ROC processing time, and bank KYC requirements. GetMyCA coordinates with all relevant authorities to ensure a smooth and timely process.
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