Can OCI start a company in India?
Now you can Incorporate a Private Limited Company, with a Single application for Name reservation, Incorporation, DIN allotment, Mandatory issue of PAN, TAN, EPFO, ESIC, Profession Tax (Maharashtra), and Opening of Bank Account.
Any person can start their business in India. There is no restriction in doing business here by anyone, viz., Non Resident Indians (NRI), Foreign Citizens, Overseas Citizen of India card holder (OCI), Person of Indian origin (PIO).
Yes! You can work in India with an OCI card. The OCI card or Overseas Citizenships of India card is a lifelong visa that gives you the chance to work or live in India. Also, you can enter India at all the times you would like.
Business entities registered outside India (“Foreign Company”) can establish business operations in India without creating and registering a limited company or limited liability partnership. Subject to the RBI guidelines, a foreign company can open a Branch Office or Liaison Office or Project Office in India.
I am a US Passport holder; can I own a company in India? Yes, you can very well own a company in India (partly or even wholly) or set up your own company in India. Setting up or owning a company in India can broadly be achieved with the following options: Buying shares in an existing business.
You can choose partnership, sole proprietorship, company or any other form of business entity. But make sure that whichever form you are incorporating, you follow all the instructions and regulations associated with it.
| Advantages | Disadvantages |
|---|---|
| Lifelong multiple entries for visiting India. | Not eligible for purchasing agricultural land. |
| No requirement for registering with local police authorities after 180 days. | Not eligible for a government job. |
- Vote.
- Become a member of a Legislative Assembly or Legislative Council or the Parliament.
- Hold constitutional posts such as President, Vice President, Judge of Supreme Court, or High Court.
- Hold employment in the Government.
- Hold an Indian passport.
Aadhaar Card enrollment is presently available to residents in India. OCI Cardholders who stay in India for a long time (over 182 days in twelve months immediately preceding the date of application for enrolment) and have an Indian address can also enroll for Aadhaar Card in India.
Overseas Citizenship of India (OCI) is a form of permanent residency available to people of Indian origin and their spouses which allows them to live and work in India indefinitely. Despite its name, OCI status is not citizenship and does not grant the right to vote in Indian elections or hold public office.
For what duration an OCI card holder can stay in India?
An OCI card holder is entitled to life-long visa with free travel to India whereas for a PIO card holder, it is only valid for 15 years. b.
With effect from April 1, 2021, NRIs can incorporate one person companies (OPC) in India. “NRIs can also form partnership firms where the firm should have at least one resident Indian partner.
Particulars of the Director's, Manager or Secretary - Form-32. After processing of the Form is complete and Corporate Identity is generated obtain Certificate of Incorporation from RoC. File a declaration in eForm 19 and attach the prospectus (Schedule II) to it. Obtain the Certificate of Commencement of Business.
