With the advent of globalisation, connectivity worldwide has become the sole propeller for international co-operation and belongingness. This journey from a national company to an international company has now been seen as the success marker of so many companies. With the compliance of specific rules and necessary steps involved in the procedure, this has become achievable with, of course, your visionary mindset!
Let’s jump right into some steps involved with the registration:
First, decide for the type of business that you want to venture for a sole proprietorship, one person company (OPC), partnership, co-operative.
This will help you to set a specific direction that you need to work in, thus reducing the various options you need to choose from.
Some initial conditions you need to fulfil-
At least one Indian resident needed as the director
Must have is all the required documents and KYC details. Ensure the notarization and attestation of all the documents from the respective departments of the respective ministries. The list of documents needed for registration are as follows:
- Copy of your passport (valid passport)
- Copy of driving license from the issuing country
- Voter ID
- Residential permit (issued by the respective embassy)
- Valid business visa
- Social security number- a 9-digit number in the format AAA-GG-SSS can be used as a valid proof of identification. To determine social security benefit.
- Ensure the foreign direct investments details for the company- automatic route for FDIs do not require prior permission from the associated ministry or even reserve bank of India (RBI).
- Certificate of authentication (needed when you wish to open any bank account in the country of business)
- Certificate of appropriation (needed to prove that the company has been legally incorporated)
- Valid address proof (residential address)
- After creating a user account in the ministry of corporate affairs:
- Apply for the DSC (digital signature certificate).
- Get DSC done by the certified authorities with the needed valid documents.
- After signing in the MINISTRY OF CORPORATE AFFAIRS PORTAL, apply for the name of the company. After the uniqueness of the name is certified, your company name is authorized, giving way to the certification of incorporation.
After the above steps, the certificate of the corporation in India received your company is finally registered! This ensures the formation of your company in India.
DIN was introduced newly with the insertion of 266A-266G of COMPANIES (AMENDMENT) ACT, 2006. For the Director identification number (DIN) to be received, you need to fill up the SPICE FORM. The details of the director need to be elaborately specified with attached valid documents of proof.
The above steps can help you enable a strong foothold in a business company other than your own country. So, let’s take this global initiative a notch up by indulging in inter-country business. All the best!