India is the largest country on the Indian subcontinent and the second most populous country in the world after China, with a population of nearly 1.3 billion and an abundant supply of basic labor. With the emergence of “Make in India,” India’s manufacturing industry has solidified its position in global trade, commerce, and industry. As a developing economy, India has a large market potential, unique cost advantages, and an improving business environment. Rapid economic growth is driven by a rapidly growing domestic entrepreneurial ecosystem. As one of the world’s fastest-growing economies, India has become a highly attractive destination for foreign investors. Economic reforms have rapidly transformed India into an open market economy, yielding significant benefits. With China aggressively promoting its “Going Global” strategy and implementing the Belt and Road Initiative, more and more foreign companies are shifting their investments to India.

Simultaneously, the entire process of registering an Indian company and opening a bank account can be completed remotely, allowing you to set up an Indian company without having to travel abroad while opening a multi-currency account for your foreign company.

As an international business service organization, Esin Business provides comprehensive solutions for the registration and operation of Indian companies, protecting your commercial ventures in India.

Complete Guide to Registering a Company in India:

Option One: Registration as an Individual

  1. Identity documents for all shareholders and directors, which require double authentication from the Indian Consulate, such as passports and identity cards. You can also appoint us to assist with the double authentication process in Singapore
  2. Three proposed company names can be submitted. Names must be in English and end with “PRIVATE LIMITED”
  3. PAN cards for Indian local directors and shareholders, along with proof of address such as a Ration Card or Voter ID Card (if unavailable, we can provide a nominee director)
  4. Recent utility bills (electricity, water, or internet) for the registered address, plus a Letter of Consent (NOC) from the property owner confirming approval to use this address for company registration (if unavailable, we can provide a registered address)

Option Two: Registration Through a Foreign Company

  1. Identity documents for all shareholders and directors, which require double authentication by the Indian Consulate, such as passports and identity cards. You can also appoint us in Singapore to assist with double authentication
  2. Commercial documents that have been notarized and verified from the shareholder company, such as business licenses, articles of association, power of attorney for company representatives, and board of directors’ decisions;
  3. Three proposed company names must be provided. Names must be in English and end with “PRIVATE LIMITED”.
  4. PAN cards for Indian directors and shareholders, along with proof of address such as a Ration Card or Voter ID Card (a nominee director may be provided if unavailable).
  5. A recent utility bill (electricity, water, or internet) for the registered address, plus a Letter of Consent (NOC) from the property owner confirming consent to use this address for company registration (a registered address can be provided if not available).

Notarization and legalization refer to the process whereby directors, individual shareholders, and corporate shareholders of listed companies must notarize and legalize their identity documents, proof of address, and corporate commercial documents at the Indian Embassy in their country of residence. If you require a one-stop service, we can also assist in notarizing and legalizing the entire set of documents in Singapore.

The main components of notarization and legalization include:

Individual Shareholders: Identity documents such as passports; proof of address including utility bills (within the last two months), telephone bills, tax statements, driver’s licenses, or national identity cards.

Corporate shareholders: Notarized and verified commercial documents from the shareholder company, such as business licenses, articles of association, company representative appointment letters, and board of directors’ decisions.

Investors registering Indian companies are often deceived by choosing inexperienced agents who offer low-cost services. Esin Business recommends choosing a professional agent service provider to avoid this, making Indian company registration easier.

    1. Prepare registration information
    2. Legalization and certification of director and shareholder documents
    3. Verification and submission of company name
    4. Submit director certification code
    5. Submit director electronic signature
    6. Business license application
    7. Tax Account Number (TAN) application
    8. Permanent Account Number (PAN) application
    9. Open a bank account
    10. Register for GST and Social Security
    11. Bank capital contribution
    12. Capital verification by the Central Bank

Once all client documents have been collected, company registration and bank account opening are expected to be completed within two months.

  1. Large young workforce

Of India’s total population, those under the age of 25 account for 50% of the workforce, while individuals under 35 represent two-thirds of the total population. India has become the country with the largest working population in the world.

  1. Business-friendly economic environment

The Indian government has launched several national initiatives, such as Make in India, Digital India, and Tech India, to encourage rapid economic growth and increase the attractiveness of investing in India.

  1. Low operating costs

India has a population with extensive English language skills, low labor costs, and relatively lower office rental costs compared to other countries.

  1. Huge Market Potential

With a population of over 1.2 billion and a steadily increasing per capita income, India has enormous market potential.

(After registering an Indian company, it must operate in compliance with regulations to remain active.)

a) Corporate Income Tax Return

Every Indian company must file an income tax return, regardless of whether it has income, profit, or loss. Even dormant companies with no transactions must submit an annual income tax return.

Personal income tax is withheld monthly by employers. Late filing may incur penalties ranging from ₹1,000 to ₹10,000 depending on circumstances.

Corporate Income Tax Filing Deadline: September 30th or earlier

Personal Income Tax Filing Deadline: July 31st

b) Annual General Meeting (AGM)

Newly incorporated Indian companies must hold their AGM within 18 months of incorporation or within 9 months of the financial year-end, whichever is earlier. Existing companies must hold their AGM within 6 months of the financial year-end.

Filing Deadline: September 30

c) MCA Annual Return

All companies registered in India—including private limited companies, single-member companies, and limited liability companies—must file an annual MCA return. This return must be submitted within 60 days of the AGM. Late filings incur an annual penalty of INR 100 per day.

Filing Deadline: 60 days after the Annual General Meeting (AGM)

d) Company Certificate of Commencement

An incorporated Indian company must obtain a Certificate of Commencement within 180 days of incorporation. No business operations, including exercising any borrowing rights, may commence before obtaining this certificate. Violators face a company-level penalty of INR 50,000 and a director-level penalty of INR 1,000 per day for each day of delay.

e) Appointment of Auditor

Within 30 days of incorporation, the company must appoint a qualified practicing accountant to conduct statutory audits. This auditor must be an independent professional engaged by the company to express an opinion on whether the financial statements are free from material misstatements, fraud, or errors, and whether the accounting content is consistent.

f) Company Financial Report

The Indian Companies Act mandates that all companies registered in India must prepare and maintain accounting records using a commercial accounting system. Businesses are generally required to maintain records in English. However, the functional currency for bookkeeping must be Indian Rupee (INR). Records and accounting documents may be maintained electronically and must be retained for a minimum period of 8 years.