Frequently Asked Questions

• Do Foreign company need local legal person? If yes, do we need shareholder? 

 -You will require One Indian Director who is employee of company and can remove anytime. No local shareholder will required, your Foreign company can be shareholder.

 

• Do we need residency visa? If yes, how much do we need for its cost and how long do it cost?

-No physical presence required to setup company here, so no visa required.

 

• Can our Foreign company be a shareholder of the subsidiary company in 100% percent?

-yes , but for compliance purpose 1 share has to be give to some individual , he can be Foreign director, Foreign company Can hold 99.999% shares (here we call it 100% subsidiary)

 

• What are the responsibility of directors and owners of the India company we will register?

Owner liability is limited to share capital. Directors has to maintain the company compliance; director will be responsible for any wrong happened in the company in terms of Tax evasion or misuse of funds.

 

• Do your company have nominee directors?

yes we can provide nominee director services for INR 50000 per year

 

• if we register one kind of company, can we change the type of it in the future?

yes you can change the type of company in future

 

• How long do the whole process of registering company take?

we will need 20 working days for all registration including company and bank account and tax registration + time taken by client for provision of documentation.

 

• Do there have requirement for registered capital? How much of it? Is it possible to inject capital into phases?

Minimum capital of company should be INR 100000 it has to infuse within 180 days from the date of company registration

 

• Do we need register GST? What are the conditions for compulsory registration of tax numbers?

Any company want to import or export must get GST registration, for local sale/ purchase there is limit of INR 4,000,000 for GST registration.

 

• Are there any differences of registration time of the company?

No it will remain same for entire year

 

• Can we use virtual address? If yes, what are the function of it? Do you have this service?

Yes you can use virtual Address, through this address you will able to register company and can get tax registration and able to receive communication from government  department. Yes we do provide this service at fee of INR 40000 per year.

 

• What is the registered capital and whether if the government verify capital or not ?

Minimum INR 100,000 company need to report to government once capital received in company

 

• What is the corporate income tax of registering company?

Effective Corporate Income tax will be 15% for manufturing company and 22% on profit of the other company

 

• Whether the company's fiscal year can be consistent with the parent company ? (Early April to the end of March of the second year)

yes 

 

• How much do our company cost for your company's service?

Contact us to get Offer Letter

 

• Does your company have a payroll service? How much of it? Is there a accounting service? How much?

Contact us to get Annual compliance Offer Letter

 

• Does our company need auditing service? Do your company have auditing service?

Yes you will need and we do provide that

 

• How can our company submit the bank account(We prefer well-known bank) quickly?

We will open your corporate bank account with HSBC/Citi Bank and everything will online.

 

• Can I apply for a foreign currency account by the bank account I submit?

Yes

 

• Are there any foreign exchange restrictions on transfer between countries？

No restriction but has to report the same with government department