In India, there are several types of business entities to choose from, each with its own set of advantages and disadvantages. Here’s an overview of the most common types:
A simple structure where the business is owned and run by one person. Best for small businesses with minimal risk.
A business where two or more people share ownership. Ideal for moderate-sized businesses looking for shared control.
A private company with limited liability, ideal for startups and growing businesses looking for scalability.
Setting up a business in India as a foreigner involves multiple steps and requires a deep understanding of the legal landscape. Here's a step-by-step guide:
Foreigners need a valid business visa to enter India. After arriving, the first step is to register with the Foreigners Registration Office (FRO) within 14 days.
Foreigners can set up a Private Limited Company or Limited Liability Partnership (LLP). This step involves submitting documents such as the Articles of Association, Memorandum of Association, and getting the name approved by the Ministry of Corporate Affairs.
Setting up a bank account and obtaining a PAN (Permanent Account Number) and TAN (Tax Deduction Account Number) are essential steps. We assist with the paperwork and submission.
Compliance with Indian tax laws (GST registration, etc.) and filing annual returns are necessary for business operations. We guide you through each step.
For Indian citizens, the process to set up a business is simpler, but there are still key steps that must be followed for successful incorporation and operation.
Indians can register as a Sole Proprietor, Partnership, LLP, or Private Limited Company. We assist with the documentation and legal formalities.
Obtaining a PAN, TAN, and GST registration are key steps in setting up a business. Our team simplifies this process for you.
Opening a bank account in the company’s name and securing any necessary finance is important for running the business. We assist with this setup.
Ensuring compliance with local laws, such as the Shops & Establishments Act, labor laws, and others, is essential. We handle these aspects on your behalf.