Benefit of Starting a Business in India by a Foreign Nation NRI



Benefit of Starting a Business in India by a Foreign Nation NRI

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The world's fastest growing country and sixth-fastest growing economy offers many advantages to companies who decide to set up their offices in India. This includes a young population, a large market without borders and well-established logistics. But there are also a number of other factors that should be taken into account. From career-focused, competitive youth to a great pool of experienced specialists and favourable government policies.

NRIs (non-resident Indians) are an important part of the Indian economy and can play a key role in business expansion. However, the NRI-related legislation is quite complex and requires thorough analysis before taking the decision to start a new venture in India. This article will explore some of the main challenges that are associated with this process and the best ways to overcome them.

One of the first steps for a NRI who wants to start a business in India is choosing the right entity type. For NRIs, the most suitable option is a private limited company or a limited liability partnership Register with MCA. Both of these types of companies allow NRIs to act as directors and have more flexibility in terms of statutory filing requirements. However, it is important for NRIs to understand that they must obtain a Director Identification Number and digital signature certificate as part of the documentation procedure. This process can take some time and is often accompanied by a lot of paperwork.

 

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