India is one of the best countries to expand your business. Various factors are there that are very supportive for new business owners. The main factor is the availability of resources and labor. The reduces the cost of production so tech giants are showing their interest to expand their business in India.
The government of India support foreigners to start their business in India and almost all citizens from all countries are eligible to start their business in India. There is an exception for those countries that share borders with India. These countries are Pakistan, Bangladesh, Nepal, China, Bhutan, and Myanmar.
Citizens from the above-mentioned countries require special permission from the government of India in order to expand their business to India.
European citizens can easily apply for an online Indian visa from Europe. It is good to visit India first in order to prepare the feasibility report. You can get an online eTA as well that is a quick electronic travel authorization.
Available Options for Non-Residents
Those who are non-residents of India and wanted to start their business in India have the following options:
- Public or Private Limited Company
- Limited Liability Partnership (LLP)
- Branch Office & Liaison Office or Project Office
The selection of the right option depends on the nature of the business and the tax that you have to pay.
Procedure To Start Business in India
There is a simple procedure to start a business in India for every non-resident which you can find below:
Define Business Plan
First of all, you need to define a business plan, as it is the most important aspect to start any business. As a foreign resident, you need to do the same and should define your Indian business plan. Remember that it is important to know your business better than anyone else.
Select Best Business Option
Once you have defined your business plan, now is the time to select the right business option. Because it is very important for any business. You can select either public or private limited company, or you can opt for a limited liability partnership, or branch office & liaison office, or project office.
Proper Documentation
Now, you need to complete the proper documentation that is required for any foreigner to start a business in India. This documentation might be different for the citizens of different countries and for different business opportunities as well.
Permission from Authorities
Now, you need to send an application and need permission from the Indian authorities to start your business in India. You need to file an application to different authorities that depend on the nature of the business and the type of company you select.
Business Start-up Formalities
Once you get approval from the authorities to start your business in India, now you need to start the formalities to start up your business.
Conclusion
So, here is a simple and easy-to-follow guide to starting your business in India as a foreigner. If you are from the USA, you need to get your Indian Visa from United States.
You can get that visa online too even from the United States of America. For European and American citizens it is very easy to expand their business to the Indian market.