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1. Can a Foreign National or an NRI be a Director in a Private Limited Company?
Yes, a Foreign National or an NRI can be a Director of a Private Limited Company in India after obtaining Director Identification Number. However, at least one Director on the Board of Directors must be a Resident Indian.
2. Can a Foreign National or an NRI hold shares of a Private Limited Company?
Yes, a Foreign National or an NRI Foreign Companies can hold shares of a Private Limited Company subject to Foreign Direct Investment (FDI) Guidelines.
3. Can a Foreign Parent Company incorporate a Subsidiary in India?
Yes, foreign parent or holding Companies, including USA parent companies, can incorporate a subsidiary, as a 100% owned Private Limited Company in India subject to Foreign Direct Investment (FDI) Guidelines.
4. How a foreign company can incorporate a new Company in India
Any foreign company can establish its place of business in India by filling eForm FC-1, It is not mandatory for a foreign company to register as a foreign company by taking a Foreign Company Registration Number.
A foreign company shall file with the registrar Form FC-1 with fees and documents required.
The application shall be supported by an attested copy of approval from the Reserve Bank of India under Foreign Exchange Management Act or Regulations.
5. Can a Foreign Company can register a Startup in India?
Yes, and is subject to registration as per FDI Guidelines and registration norms.
6. What are the benefits of a Startup in India
A Startup can easily be incorporated as a private limited company and should then be registered in Startup community of India. The benefits of the Start ups in India are
Tax exemption on profits for three years
80% reduction in patent registration fee
Intellectual Property Rights protection
Exempted from capital gain tax
Easy fund raising
90-day exit window
7. What are FDI Guidelines for Foreigners in a Private Limited Company?
100% Foreign Direct Investment is allowed in India in many of the industries.
8. Is it mandatory for Directors of a foreign company to take DIN?
There is no need to apply and obtain DIN for Directors of a foreign company. However, it is mandatory to register the DSC of the authorized representative of the foreign company via associate DSC service available at MCA portal.
9. What are the other registration requirements of a Private Limited Company in India?
Register under Shops and Establishment Act
Register for value added tax (VAT) before the Sales Tax Officer of the ward in which the company is located
Register for Professional tax
Register with Employees' Provident Fund Organization
Register with ESIC (medical insurance)
Filing for Government Approval before RBI/FIPB for Foreigners and NRI's
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