Questions in Mind
1) What are the
opportunities that a start-up can get in India?
India in today’s time, is
one of the fastest growing economy in the world. Major developed countries are
finding immense potential in the Indian market and are keen to increase or
commence their ties with India.
India has also improved
massively in ease of doing business and is ranked in 77th position from its
earlier standing at 142nd position.
FDI inflows ranged to $42
billion in 2018 with major investments in manufacturing, communication,
financial services and cross-border merger and acquisition activities,
highlighting India as one of the most attractive market for leading foreign
Also fintech has found well
backing by various start-ups, financial institutions, government, and venture
capitalists to help channelize robust investments from various stakeholders.
India benefits from its
efficient technical and management institutions that are of the highest
international standards that creates able human resources.
2) How can an Indian
company (private limited) be incorporated?
Ministry of corporate
affairs have done away with tortuous practice for registering a company and
hence have introduced a simplified way to form company. Now, Company can be
incorporated, together with name approval and DIN (Director Identification
Number), with the recognition of registered office of the company, PAN and TAN
and the MOA and AOA of the company with a linked form- SPICe 32, 33, 34. Now
the ministry even facilitates GST registration with the introduction of AGILE.
3) Is there any Government
Fees that I shall incur to form a company in India?
The ministry has
facilitated with zero fees up to Rs. 10 lakhs for most classes of companies.
However, there shall levy state wise stamp duty.
4) What are the structural
requirements to form a company in India?
To incorporate a company, a
minimum of 2 directors and 2 shareholders are required. Both directors and
shareholders can be same persons or different.
There exists no minimum capital
requirement for a private company.
5) What are the documents
that are required to form a private limited company in India?
PAN Card copies as Proof of
License as proof of Identity
Copy of latest electricity bill/telephone
bill/mobile bill/bank statement as proof of residency(latest by 2 months)
Copy of ownership deed/sale
deed(if property is owned)
Copy of rent agreement
along with latest rent receipt (if property is rented)
Copy of latest electric
bill/telephone bill/mobile bill/gas bill in the name of the owner of the
property for the registered office proof.
Copy of Property Tax
Form DIR-2 by the proposed
A declaration in the form
INC-9 by the directors and the subscribers
6) I am not an Indian
citizen. Can I form a company in India?
The Companies Act 2013
permits a foreign director or directors or be the shareholder(s) in a company.
However, there shall be present at all the times a director who is an Indian
citizen as well as resident in India. The documents as mentioned above (i.e ID
proof, residency proof) shall have to be apostilled or notarised from the
public notary or the embassy.
7) Being an Indian, I am
looking to expand in other countries. What shall be a lucrative place to start?
Reason to Expand in
advantageous loans for foreign investors, the tax incentives and exemptions,
the pro-business legislation and the State’s financial stability makes it
attractive to foreign investors. Singapore enjoys second position in ease of
doing business and fifth position in the rankings of countries receiving FDI.
It does not have tortuous compliances, has favourable tax system, has DTAA with
many countries. It has infrastructure, the banking system, and communication facilities
that are less time and money consuming which also eases in setting up a company
in Singapore. Singapore is technologically advanced facilitating innovative
solutions for various industries. It is also stands among those few countries
which facilitates and provides for well-developed fintech activities.
Reason to Expand in
Australia is an excellent
place to invest because of its population growth, highly skilled workforce,
strategic location, strong record of economic growth and a stable governance
and regulatory environment. Australia stands in 8th position as the recipient
of FDI and 18th as ease of doing business. Australia has varied economy
contributing to its growth, the sectors being Mining, energy, Tourism,
Financial Services etc Taxation in Australia is simplified and the foreign
investors need to pay taxes on their Australian earnings in line with
Australian owned companies
Reason to Expand in UK
UK has conditions that are
profoundly favourable for FDI. Setting up a business is rapid in comparison to
other European countries. London is the world leader in the financial services
sector indicating healthy and efficient banking systems. UK also has many
bilateral investment treaties with many countries factoring huge FDI
Reason to Expand in UAE
One of the factors
evidencing FDI in UAE is its strategic location, which makes it favourable to
have access to both the east and the west economies. UAE has well developed
infrastructure facilities. It is ranked as 11th in position in ease of doing
business Low Tax Rate
8) I have an online Fintech
Company catering to the needs of global customers. Which place do you recommend
for ease of forming and functioning for a Fintech Company?
Our research suggests
Fintech companies suffer most from complex regulations and compliance.
Countries like Malta, Lithuania, Labuan provides perfect environment for
operating a Fintech Company. In all of these, Financial Regulation is liberal
and it is easy to run a company.
9) Do we have to travel to
the country to run the business?
This depends on which
country you would like to open your start-up. In various countries we do not
require travelling to start any business. The entire process in based on
10) What are the Services
that TAX SAMADHAN provides in Global setting up?
We believe in providing end
to end solution for all your Financial and compliance need so that you do not
face any hassles in doing business. Our Service includes-
Payroll and Secretarial
Global Fundraising and
Work Permit and Visas