India Company Registration Services
Made up of 29 different states and 7 union territories, India is one of the fastest growing economies in the world. Doing business in India is not as daunting as it may sound, because English is widely accepted as a business language in the country. In addition to that, rising personal incomes have also created a new middle class consumer market, which holds a lot of potential who investors seeking an opportunity in this region.
Registering a company in India will come with some challenges which the investor should be prepared for. Among the challenges the investor is going to find themselves up against are the multiple religious, ethnic and annual variations in holiday timings. This means that investors would need to be aware when planning business meetings or trips because of the possible holidays that they may not be aware of.
There are also challenges with intellectual property and the risk of delays due to administrative requirements. Any time there is a delay in business, it is never a good thing so careful planning is needed on the part of the investor to take all of these into account before making the decision to venture into the Indian market.
Land acquisition can also prove to be a challenge in India, along with access to the right skills in the local workforce. Infrastructure challenges are also going to be a challenge for investors, especially in the distribution and logistics sector. And then there is the risk of bribery and corruption. Barriers to trade and investment in some sectors due to regulatory constraints, local sourcing requirements and import tariffs are also challenges that an investor interested in India would need to take into consideration.
Extremely hot and wet weather in the summer months and monsoon season could also inadvertently affect how a business performs during that time of the season.
The Process of India Company Registration
Now that the investor has an idea of the challenges that they are going to be up against in the Indian market, let’s take a look at the process of registering a company in India:
- Registering a company in India requires the investor to obtain a digital signature certificate.
- Investors would also need to obtain director identification numbers online from the Ministry of Corporate Affairs.
- Investors would need to reserve a company name with the Registrar of Companies online.
- Investors would then need to pay the business stamp duties online, file all the incorporation forms and documents (also done online) and obtain the certificate of incorporation. This can be done with the Registrar or Companies.
- Investors would then be required to make a company stamp and obtain a Permanent Account Number from an authorised franchise or agent appointed by the National Securities Depository Services Limited or the Unit Trust of India.
- Investors would then need to open a bank account and register with the Employees Provident Fund Organisation.
- Investors would then need to register for VAT online and register for a medical insurance.
- Investors would then need to obtain a tax account number for income taxes deducted at source from the Assessing Office in the Mumbai Income Tax Department.
- And finally, investors would need to register for profession tax.
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