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Private Limited Company for Non-residents Indians
A Private Limited Company is a company which is privately held for small businesses. It is very popular form of business for start-ups in India. A private limited company has the limited liability of members but at the same time it has many characteristics as those of a partnership firm. It has all the advantages of partnership namely flexibility, greater capital combination of different and diversified abilities, etc., and at the same time it has advantages of limited liability, greater stability and legal entity. In this sense, a Private limited company stands between partnership and widely owned public company and is generally preferable by small and medium businesses.
ComplianceIndia can be your legal and professional partner in India to help you understand how to register Private Limited Company for Non-resident Indians in India quickly and cost-effectively.
Advantages of Private Limited Company for NRIs
Easy to get investments and VC funds
Most credible
Preferred by investors
Ideal for IT start-ups and other growing businesses
Separate Legal Identity in eyes of Law
Limited Liability of Shareholders
Easy Transferable Ownership
Perpetual Succession
Minimum Compliance requirement
Eligibility to form a Private Limited Company
- Minimum Two (02) directors and Maximum 15 directors
- Minimum Two Shareholders and Maximum 200 Shareholders can be either different from Directors or same.
- Unique Name is required.
- Atleast one Director should be an Indian Resident.
How we Work?
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Packages
Consultation Charges
Nil
Complete assistance by Experts or Professionals indicating Process, Documents required, Benefits, Tax compliance, Legal Compliance, etc.
Start-up Plan
Rs. 2999/- only
- – Registration of your Private Limited Company with MCA
- – Company MOA and AOA
- – Allotment of DIN of all Directors
- – PAN and TAN Registration
- – Expert advice from Experts/ Legal Professionals
Basic Plan
Rs. 7,999/- only
- – Registration of your Private Limited Company with MCA
- – Company MOA and AOA
- – Allotment of DIN of all Directors
- – PAN and TAN Registration
- – GST Registration
- – Board Minutes of First year on Incorporation
- – Legal Drafting of consent letter and Appointment of First Auditor
- – Expert advice from Experts/ Legal Professionals
Advance Plan
Rs. 14,999/- only
- – Registration of your Private Limited Company with MCA
- – Company MOA and AOA
- – Allotment of DIN of all Directors
- – PAN and TAN Registration
- – GST Registration
- – Current Account Opening in your nearest Branch
- – Board Minutes of First year on Incorporation
- – Legal Drafting of documents
- – Appointment of First Auditor
- – MCA Annual Filing of Form AOC-4/ AOC-4 XBRL and MGT-7
- – DIR-3 KYC filing
- – Expert advice from Experts/ Legal Professionals
Ultimate Plan
Rs. 29,999/- only
- – Registration of your Private Limited Company with MCA
- – Company MOA and AOA
- – Allotment of DIN of all Directors
- – PAN and TAN Registration
- – GST Registration
- – Current Account Opening in your nearest Branch
- – Board Minutes of First year on Incorporation
- – Legal Drafting of documents
- – Appointment of First Auditor
- – MCA Annual Filing of Form AOC-4/ AOC-4 XBRL and MGT-7
- – DIR-3 KYC filing
- – Trademark Application
- – Income Tax Return filing of Company and its Directors
- – Financial Statements preparation
- – GST Return filing for 12 months
- – Expert advice from Experts/ Legal Professionals
Documents Required for Private Limited Company for NRIs
Note – In case of Foreign Nationals or NRIs, all documents need to be notarised and apostilled from the Country where the Foreign Nationals or NRI is presently residing or by the Indian Embassy in the Country where such person is presently residing.
Comparison with other forms of Business
Form of Business | Private Limited Company | One Person Company | Limited Liability Partnership | Partnership Firm | Proprietorship Firm |
---|---|---|---|---|---|
Act | Companies Act, 2013 | Companies Act, 2013 | Limited Liability Partnership Act, 2008 | Indian Partnership Act, 1932 | No specified Act |
Registration Requirement | Mandatory | Mandatory | Mandatory | Optional | No |
Minimum Number of members | 2 | Only 1 | 2 | 2 | Only 1 |
Maximum Number of Members | 200 | – | Unlimited | 50 | – |
Number of Directors/Partners | 2 – 15 | Only 1 | 2 – Unlimited | 2 – Unlimited | Only 1 |
Separate Legal Entity | Yes | Yes | Yes | No | No |
Liability Protection | Limited | Limited | Limited | Unlimited | Unlimited |
Statutory Audit | Mandatory | Mandatory | Dependent | Not Mandatory | Not Mandatory |
Ownership Transfer ability | Restricted | No | Yes | No | No |
Uninterrupted Existence | Yes | Yes | Yes | No | No |
Foreign Participation | Allowed | Not Allowed | Allowed | Not Allowed | Allowed |
Tax Rates | Moderate | Moderate | High | High | Low |
Statutory Compliance | High | Moderate | Moderate | Less | Less |
GET STARTED | KNOW MORE | KNOW MORE | KNOW MORE | KNOW MORE |
Frequently Asked Questions
1. What is the minimum number of shareholders in a Private limited company?
Two. They could be individuals or legal entities.
2. What is the minimum number of directors in a Private limited company?
Two. The Directors must compulsorily be individuals. They cannot be corporate bodies. Atleast, one Director should be an Indian Resident.
3. What is the minimum share capital of a Private limited company?
No Minimum capital required as per recent amendments in Company Act, 2013.
4. Is an office required for a Private limited company?
An address in India where the registered office of the Company will be situated is required. The premises can be a commercial/ industrial/ residential where communication from the MCA will be received.
5. Is registration necessary for Private Limited Company for NRIs in India?
Yes, Registration for Private Limited Company for NRIs is necessary as without registration, there can be no existence of a company.
6. Can NRIs and Foreign Nationals register a Company?
YES. NRIs, foreign nationals and foreign entities can register a company and invest in India, subject to the Foreign Direct Investment norms set by the RBI. However, incorporation rules in India require for one Indian national to be a part of the company on the Board of Directors.
7. Do I have to be physically present in person to Incorporate a company in India?
No, you will not have to be present at our office or appear at any office for the registration of a Private Limited Company. All the documents can be scanned and sent through email to our office. Some documents will also have to be couriered to our office.
8. Are there any prior approvals to be obtained from any authority in India to become a director in an Indian company?
Yes. Every individual who is contemplating a position of a director in an Indian company must obtain a Directors Identification Number (DIN) before he can become a director in an Indian company.
9. What needs to be done to obtain a DIN?
An application needs to be submitted to the MCA DIN Cell to obtain a DIN.
10. What are the documents required for Incorporation of Private Limited Company for NRIs?
Identity proof and address proof is mandatory for all the proposed Directors of the Company. PAN Card is mandatory for Indian Nationals and In case of Foreign nationals, copy of valid Passport (not expired) is required. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.
12. Who can be Director in a company?
Any person over the age of 18 years can become a director in a company. Also, there are no conditions on residency or citizenship. Hence, NRIs and Foreign Nationals can easily start and manage a private limited company in India.
13. What is Digital Signature Certificate (DSC)?
Digital signature is just like a hand signature, but only in this case, it is used to affix with computerized reports. A DSC provides validity to the signature.
14. Which Forms are required to incorporate Private Limited Company for NRIs?
Ministry of Corporate Affairs (MCA) has introduced:
– New SPICe INC- 32 Forms for faster company incorporation.
– Apart from this e-MoA (INC-33) and e-AoA (INC-34) are also to be filed.
15. Can we change the Registered Office of the Private Limited Company for NRIs?
Yes, we can easily change the registered office of the company any time after the specified procedure is completed. The changed address can be situated within the same state or in a different state, depending upon the conditions.
16. Is a foreign entity allowed to be Director or shareholder of the Private limited company?
Yes, any foreign nationals, entity or an NRI can become a director or shareholder of a Private limited company in India.
17. What is the ROC compliance for a Private limited company for NRIs?
Here are mandatory ROC compliance for a Private Limited Company:
– Form ADT 1: First Auditor of the company shall be appointed by the BOD within 30 days of Incorporation who shall hold the office till the conclusion of 1st AGM.
– Form MGT 7: Form MGT-7 must be filed by all companies registered in India every year. It is an electronic form provided by the Ministry of Affairs to all the corporations in order to fill their annual return details. The due date for filing MGT-7 is within 60 days from the date of Annual General Meeting.
– Form AOC 4: Every Private Limited Company is required to file its Balance Sheet along with statement of Profit and Loss Account and Director Report in this form within 30 days of holding of Annual General Meeting.
The above forms needs to be certified by CA/CS/CWA.
18. How much time does it take to incorporate a company?
ComplianceIndia can incorporate a Private Limited Company for Non-resident Indians in 8-10 working days. The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please choose a unique name for your Company and ensure you have all the required documents prior to starting the registration process.
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