Bangalore is one of the most important state in India. It is a preferred destination for investment from NRIs. Bangalore is one of the fastest growing economies in the world. There are many business opportunities are there to start all the new business peoples. There are so many foreign companies are developed their business in Bangalore.
Foreign Nationals and NRIs must always choose to start or invest a Public Limited Company or Private Limited Company in Bangalore. Business entities like Public Limited Company or Private Limited Company only permit for Foreign Direct Investment (FDI) into India. Foreign Nationals or NRIs are not allowed to invest or start a Partnership or Proprietorship or One Person Company in Bangalore. In LLP Foreign Direct Investment (FDI) needs prior approval from the RBI.
Therefore, the most ideal entity for Foreign Nationals and NRIs to invest or start a company in Bangalore would be a private limited company. The public limited company can also included by the foreign promoter. If the number of investors in the venture would be more than seven. The company would have to increase valid funds from a number of shareholders. There are 200 shareholders in a private limited company and an public limited company is enabled to have unlimited shareholders.
Board of Directors
To become a director of an Indian company, the person must first get the Director Identification Number (DIN) after getting Digital Signature Certificate (DSC). To get a DSC , the NRI or foreign nationals must provide a self-attested and notarized copy of his/her address proof (Utility Bill, Drivers License, Residency Card) and his/her passport.
Once the DSC is obtained, Director Identification Number can be obtained for the NRI or foreign nationals added to the board of directors during registration.
The companies act 2013 needs, The minimum number of shareholders in a private limited company is two and maximum of 200 shareholders.
Company Registration Procedure
The procedure of company registration with Foreign Nationals or NRIs of Foreign Entities is similar to that of a private limited company registration with Indian shareholders and Indian Directors. Notarization of address proof, foreign identity proof and their foreign origin of other documents is one of the additional steps to be arranged with while incorporating a company with Foreign Entities and NRIs.
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