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Private Ltd. Co. (NRIs without FDI)

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Required Documents

Description of proposed business activity in few words

4 proposed names for company in order of preference

Authorized and Paid up capital & sharing proportion of subscribers

DIN (Director Identification numbers) of all directors

DSC (Digital Signature) of all directors and subscribers

Self attested PAN Card copy of directors and subscribers

Self attested ID Proofs of all directors & subscribers (Driving License/Voter ID/ Passport)

Self attested address proof of directors & subscribers (Utility Bill/ Bank Statement/ Bank passbook copy)

Passport size color photo of directors in JPEG format

NOC from owner of premises or Rent/ Lease agreement (if leased/ rented)

Utility bill in name of owner not older than 2 months

Occupation and educational qualification, place of birth and nationality

Duration of stay at present residential address of directors and subscribers

Mobile no. and email id of directors and subscribers

What we will deliver

DIN for 2 directors

DSC of 2 directors/ subscribers

Name approval of company- RUN WEB FORM/ SPICe+

Memorandum of Association/ Article of Association of Company (e-MOA/e-AOA)

Certificate of Incorporation

Mandatory PAN of Company (e-PAN Card)

Mandatory TAN of Company (e-TAN letter)

Mandatory ESIC/EPFO Registration (using new SPICe+ form)

Professional Tax Registration (in case of Maharasthra)

Mandatory Opening of Bank Account

GST Registration (if required)

Shop and Establishment Registration (Chargeable separately)

Indian Citizens, who are holding Indian Passport, immigrated to any other country for six months or more are known as “Non Resident Indian”. 

The Government of India on various times encourages investment in Indian soil from NRIs. This has created great deal of opportunities for NRIs in India. Private Limited Companies are the most popular model for business in India due to its ease of registration and other legal requirements.

A Private limited company can be started with minimum of 2 shareholders and with a maximum limit of 200 shareholders. Although NRIs can be director in a Private Limited Company with or without investment in company but at least one of the directors of the company need to be a resident in India to form a company.

Where a NRI becomes a director in a Private Limited Company in India, his/her ID proof and address proof must be apostilled by Consulate of Indian Embassy or attested by Foreign Public Notary depending upon whether country is the member of Hague convention or not.

Please make note that if the person belongs to country which is not the member of Hague convention then all the KYC documents need to be apostilled by Consulate of Indian  Embassy. If the person belongs to the country which is the member of Hague convention then all the KYC documents can be provided after attestation by Foreign Public Notary.

Eligibility Criteria

Minimum 2 director, Maximum 15

Minimum 2 and Maximum 200 shareholders

Directors and Shareholders may or may not be the same persons

One Director must be an Resident Indian

Minimum capital requirement is NIL

DIN of the directors

Digital Signature of subscribers and directors

Required Documents

Description of proposed business activity in few words

4 proposed names for company in order of preference

Authorized and Paid up capital & sharing proportion of subscribers

DIN (Director Identification numbers) of all directors

DSC (Digital Signature) of all directors and subscribers

Self attested PAN Card copy of directors and subscribers

Self attested ID Proofs of all directors & subscribers (Driving License/Voter ID/ Passport)

Self attested address proof of directors & subscribers (Utility Bill/ Bank Statement/ Bank passbook copy)

Passport size color photo of directors in JPEG format

NOC from owner of premises or Rent/ Lease agreement (if leased/ rented)

Utility bill in name of owner not older than 2 months

Occupation and educational qualification, place of birth and nationality

Duration of stay at present residential address of directors and subscribers

Mobile no. and email id of directors and subscribers

Step by Step Procedure of Private Ltd. Co. (NRIs without FDI)

STEP 1

Verification of documents provided by you

STEP 2

Application for Name Approval (online RUN WEB Application on MCA Portal)

STEP 3

Obtaining DSC (Class-2) and DIN as required above. However, in new companies DIN can be obtained within SPICe + facility for upto 2 directors

STEP 4

Incorporation of company along with filing of e-MOA and e-AOA

STEP 5

Providing you Certificate of Incorporation

STEP 6

Filing of Commencement of business certificate after 180 days (separately chargeable)

What we will deliver

DIN for 2 directors

DSC of 2 directors/ subscribers

Name approval of company- RUN WEB FORM/ SPICe+

Memorandum of Association/ Article of Association of Company (e-MOA/e-AOA)

Certificate of Incorporation

Mandatory PAN of Company (e-PAN Card)

Mandatory TAN of Company (e-TAN letter)

Mandatory ESIC/EPFO Registration (using new SPICe+ form)

Professional Tax Registration (in case of Maharasthra)

Mandatory Opening of Bank Account

GST Registration (if required)

Shop and Establishment Registration (Chargeable separately)

Frequently Asked Question

What is the minimum number of directors required in a private company?

At least two individual directors are required in a private company, at least one of whom should be a resident in India. 

Who is considered as ‘Resident in India’ for being appointed as resident director under the Companies Act?

Under the Companies Act, 2013, every company shall have at least one director who stays more than 182 days in India in the financial year. 

Can NRI form a One Person Company (OPC) in India?

No, NRI/ Foreign Nationals are not eligible to form  OPC in India.

Can a company be registered at residential place?

Yes, there is no restriction regarding the place where a company can be registered. Only requirement is that you must be having valid address proof in respect of such address and proper NOC from the owner/ Rent Deed.

What is the time limit of depositing share capital at the time of company incorporation?

The subscribers to MOA need to deposit share capital to the bank account of the company within 2 months from the date of incorporation. 

What is SPICe+ Form?

SPICe + forms have been brought into effect from 15th February, 2020 for Company Registration in India. It is an advanced version of SPICe. SPICe+ connects 3 central ministries and provides 10 services on a single platform. 

What are the statutory compliances required to be made by a private limited company annually?

The company is required to hold one Annual General Meeting (AGM) and at least 4 board meetings (one in each quarter).  Further, the accounts and financial statements must be audited by an independent auditor who is a qualified practicing CA. A Private Limited Company is required to file form AOC – 4 and MGT – 7 as part of Annual Compliance within the prescribed deadlines.

Can NRI/ Foreigner hold shares in a private limited company?

Yes, NRI or foreigners can hold shares in a Private Limited Company subject to FDI guidelines. 

Documents Required for Private Ltd. Co (NRIs without FDI)

Documents Required:

  • Description of proposed business activity in few words
  • 4 proposed names for company in order of preference
  • Authorized and Paid up capital & sharing proportion of subscribers
  • DIN (Director Identification numbers) of all directors
  • DSC (Digital Signature) of all directors and subscribers
  • Self attested PAN Card copy of directors and subscribers
  • Self attested ID Proofs of all directors & subscribers (Driving License/Voter ID/ Passport)
  • Self attested address proof of directors & subscribers (Utility Bill/ Bank Statement/ Bank passbook copy)
  • Passport size color photo of directors in JPEG format

Note: In case of foreign director, all documents as above to be notarized/apostile in home country

Documents for proposed registered office:

  • NOC from owner of premises or
  • Rent/ Lease agreement (if leased/ rented
  • Utility bill in name of owner not older than 2 months

Other Info. of directors & subscribers :

  • Occupation and educational qualification, place of birth and nationality
  • Duration of stay at present residential address of directors and subscribers
  • Mobile no. and email id of directors and subscribers

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