Incorporation of a company

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Pradeep Kumar Garg (Querist)

03 August 2013 I am an NRI and would like to open a company,alongwith resident Indian,that can do trading/sale purchase in shares, mutualfunds, immovable property etc. in India.

How shall I proceed and what procedures I have to follow?

Ajay Mishra

Ajay Mishra (Expert)

03 August 2013
Procedural requirement for formation of new company:

1. Obtain Digital signature of one of the promoter/director
2. Obtain DIN of at least two director
3. After obtaining approved DIN file Form 1A with ROC for name availability
4. If name is available ROC give name with in 3 days from the date of assigning
5. U will print at least two MOA and AOA.
6. File Form 1, 18, and 32 with the concerned ROC with the prescribed as given in Schedule X
7. File document like MOA and AOA for correction and other formalities, if required
8. After verification of documents of incorporation, ROC generate the Company Identification Number (CIN) and issue certificate of Incorporation at the registered address of the company

Payment of fee for respective form for incorporation of Limited Ltd.

5. For Form 1A is fixed of Rs. 1000/-
6. For Form 1 u should pay as per your Authorised Capital
7. Form 18 fee is Rs. 500/-
8. Form 32 fee is Rs. 500/-

If you wanted to pay fee first of all your longing should be on MCA portal. Payment of challan will be made online through MCA Portal.

For Public Limited Company, you should have following:

-Minimum Authorised and Paid up capital should be Rs. 500000/-
-Minimum numbers of promoters/subscriber of MOA should be seven.
-Minimum number of director should be three.

Ajay Mishra

Ajay Mishra (Expert)

03 August 2013
DOCUMENTS REQUIRED FOR DIRECTOR IDENTIFICATION NUMBER (DIN)

1. 1 Passport size photo
2. ID Proof
3. Residence proof
4. Mother Name
5. Date of Birth
6. Email ID
7. PIN Code
8. Father Name
9. Phone Number
10. Copy of Pan Card
11. Declaration on Rs. 10 Stamp Paper
12. Affidavit , if any
13. Current Occupation
14. Qualifications

What are the additional information/ documents required in case of a foreign national?

Details of a valid passport should be filled in form DIN-1 and a certified copy of same should be attached with DIN application. All supporting documents including photograph should be certified by the Indian Embassy or a notary in the home country of the applicant or by the Managing Director / CEO / Company Secretary of the company registered in India, in which applicant is a director.

Ajay Mishra

Ajay Mishra (Expert)

03 August 2013
DOCUMENTS REQUIRED FOR DIGITAL SIGNATURE

1. 1 Passport size photo
2. ID Proof
3. Residence proof
4. Date of Birth
5. Email ID
6. PIN Code
7. Father Name
8. Phone Number
9. Copy of Pan Card
10. Office address

App documents should be self attested.

The digital signature will be available in soft (PFX file) or in USB token.

Ajay Mishra

Ajay Mishra (Expert)

03 August 2013

For Investment in Shares, I will suggest you to read Master Circular on Investment in India Issued by RBI on July 01, 2013. The details of such circular is given below:

https://www.rbi.org.in/scripts/BS_ViewMasCirculardetails.aspx?id=8104

Pradeep Kumar Garg

Pradeep Kumar Garg (Querist)

03 August 2013 a)What type of company structure is permitted? NBFC or Pvt. Limited
b) Can I invest on repatribale or non repatriable basis?
c) RBI circular says NRI cannot invest in real estate business? So how do my company can do sale/purchase of immovable property?

Ajay Mishra

Ajay Mishra (Expert)

03 August 2013 RBI has imposed some restriction on real estate business, so, i will suggest you to read Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000 as updated time to time by RBI.

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