India is one of the most progressive in the world which possesses huge market and a vast human potential comprising of 1.2 billion people.
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In order to start a company in India, a minimum of two individuals and an address is required in India. If we are talking about a private limited company, it should have at least two directors (individuals) and a minimum of two shareholders (can be individuals or even corporate entities).
Furthermore, one of the Director of the Company must be an Indian Citizen and also an Indian Resident (any individual who has continuously stayed in the country of India for over 186 days).
As per the rules, the preferred legal entity structure for the foreign companies is to preferably establish a company which consists of three Directors, out of which two directors can be foreign nationals belonging to the parent company and one of the directors have to be an Indian citizen.
There are no such rule of minimum shareholding of the Indian Director. So, the foreign nationals or entities can hold 100% of the shares.
After the incorporation of a company is completed in India, the Indian Director can help in opening a bank account in the newly incorporated company’s name. Once the bank account has been successfully opened, there must be FDI reporting to the Reserve Bank of India.
Over the quarter century, international business has made a revolution in the global competition. Stay ahead of others and get proper legal assistance with all the basic information required and we help you out with improved communication, improvements in transport and logistics, e-commerce etc.,