Steps required for Incorporation of a company in India by a NRI:
1. It is advisable that at least 2 Resident directors from India.
2. Directors need not have any share capital.
3. Obtain Director Identification Numbers for all directors.
4. Digital signature for at least one director.
5. Application for Name availability.
6. Details of shareholders – At least 2.
7. Address of the Proposed Company along with the police station limit, No Objection Letter from the Premises Owner and a copy of Latest Electricity Bill or Property Tax bill of premises.
8. Incorporation of a Company under the prevailing laws of India.
9. Obtaining the PAN
10. Opening a Bank Account.
11. Registration under the Shops and Establishments.
12. Obtaining the Registration of Service Tax Department – Not liable to tax in many cases.
13. Registration under ESI Act – if the Employees exceed 15 members. ( for employees monthly remuneration below Rs.15000 – gross )
14. Registration under PF Act – if the Employees exceed 20 members. ( for employees monthly remuneration below Rs. 6500 – below – basic )
15. Obtaining Professional Tax Registration.
16. Obtaining I.E.C code from the Department of DGFT.
17. Obtaining TAN Number, for withholding Tax.
Apart from above the RBI Compliances should also be ensured as it being 100% FDI unit.
18.. That After incorporation the Capital amount should be remitted to company Bank account within 30 days from the date of Incorporation of the Company.
