Registration of Technology Company in India is main requirement for starting technology business in India , Many Foreign Technology and software companies gets business from India and they accept online payment in dollor only, Indian Customer pays most of their payments in India Rupees, as a result of this most of the conversions goes unpaid , If technology company setup Indian Company it can accept payment from India and makes lot of profits.
It is very much advisable to setup technology company in India to get benefit of large market opportunities
Limits for Foreign Direct Investment(FDI) : The First thing is to check whether FDI is allowed under automatic route or approval route, 100% FDI is allowed under automatic route for Technology Company in India , so you can start your business in India without any approval from RBI , only reporting is required to be made.
KYC of Foreign Nationals and Companies: KYC of foreign company and foreign authorized person is required for Incorporation of Company
Documents are required from Foreign Companies or Foreign Directors:
- Certificate of Incorporation of Company
- Memorandum of Association
- Articles of Association of Company
- LLP Agreement, if foreign Company is LP
- Board Resolution to Invest in India
- Power of Attorney / Board Resolution for Authorized person to sign documents on behalf of Company
- Copy of Passport of Director
- Copy of Utility Bill (Electricity Bill , Telephone Bill etc)
Note : All the above documents should be notarized and Apostle form the country of residence , Apostle is required if the country is party to
Once the KYC of Foreign Directors and Company is received we can proceed further
Please note that the KYC documents should be obtained in Three Copies.
Selection of Resident Director :
Every Indian Company should have at least one resident Director in India , so the foreign national is required to select the person who is willing to be Director of the company.
Application for Digital Signature:
Digital Signature is required to be obtained from Certifying Authority in India
Application for Name Approval of the Proposed Company :
Now name approval application is required to be made to MCA for approval of Name of the Company, Once the name is approved , application for Incorporation of the company must be filed within 20 days of incorporation of company.
Application for Incorporation of Company :
Now Application of Incorporation of company is required to be filed with all the required Information and documents with registrar of companies in India , Once the Application for incorporation is submitted to ROC, the ROC verifies the application and either sent for re submission with some correction or approves the application. Along with Incorporation Application MOA and AOA of the Company is also submitted
Certificate of Incorporation :
Once the Incorporation Application is approved , the applicant will receive the Certificate of Incorporation of Company on email of the Company , Along with Certificate PAN and TAN will also be allotted to the Company.
Verification of Registered office address of the Company :
If the Company is registered on Communication address than company should file Form INC-22 along with all the documents for verification of Registered Office
Bank Account of the Company :
Once the company is registered, it should now proceed for opening of Bank Account in the name of the Company. Bank Account can be opened with any Bank of your Choice.