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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 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

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 guidelines provided by the Registrar of Companies (ROC).
2.Incorporation Documents of Foreign EntitySubmit the incorporation documents of the foreign entity, including articles of incorporation and certificate of incorporation.
3.Board Resolution of Foreign EntityObtain a Board Resolution from the foreign entity authorising the incorporation of the India company, as per the format provided by the ROC.
4.Apostille of Board ResolutionEnsure that the Board Resolution is apostilled by the relevant authorities in the country where the foreign entity is registered.
5.Registered Office DetailsSpecify the proposed state and address of the registered office of the Indian entity.
6.Shareholding StructureIndicate the percentage of holding of each shareholder, with a minimum of two shareholders required. If shareholders are artificial persons, provide nominee details.
7.Capital StructureDefine the authorised share capital and paid-up share capital of the Indian entity, adhering to the minimum capital requirements.
8.Director DetailsProvide details of directors including names, addresses, nationality, occupation and passport copies. Ensure at least one director is a resident of India.
9.Document ApostilleIf any documents need to be apostilled, ensure they are duly apostilled by the relevant authorities in the country of origin.
10.Additional DocumentationAny additional documentation required by the ROC or regulatory authorities for 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
Print and Apostille is required for all the above documents in the parent country and then courier them to India for the signature of the other director and Chartered Accountant so that all required documents can be filed with ROC.

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
Please note that the timelines provided are approximate and can vary based on various factors. It is essential to coordinate closely with relevant authorities and professional advisors to ensure a smooth and timely process.
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