Why Should One Setup a Company in India?
The Current Status and the Future Potential of the Indian Market
The growth potential in India is the highest since it is the world’s largest democracy and the 2nd fastest growing economy. India has political stability in the field of industrial and business growth that ensures the growth of a business.
The trading network is designed in such a way that the investors that setup company in India get the best ROI.
The Hassle-Free and Transparent Taxing System
The taxing system is designed in such a way that it makes it easy for anyone who wants to setup company in India not has the hassle of various taxes and rather have a single tax for the whole nation.
The skilled population that makes the best workforce allows people to have the best labor at much cheaper rates than other countries.
Apart from these reasons, there are several other reasons that make forming a company in India profitable. You can read our other blog post where we have given a detailed idea about this.
Let us now look at the steps that one has to take while forming a company in India:
Make an application in the form 1a of the Companies General Policy form, and fill this form with the Registrar of Companies with the fees of INR 500.
The next step after this would be to draft the Memorandum of Articles Association.
If a company is a private company then, there need to be at least two subscribers and if it is a public company then there needs to be seven subscribers in the Memorandum.
If you plan to use the name of the Parent company, then you need to file a NOC as well.
After this, the subscribers will get the name approval of the company and be subscribed to the Memorandum and Articles of Association.
The next step after this is just handling the capital that is needed, based on the type of your company.