Company Registration in India from Australia, Documents required for setting up Australian Company in India and Advantages of setting up Australian Company in India

Introduction

One of the economies with the fastest growth rates in the world, India offers a wealth of startup chances. In order to take advantage of India’s competitive advantage, many new firms are constantly attempting to enter the Indian markets or to grow their current enterprises. The Companies Act, 2013, regulates all such entities and requires them to register, whether they are international businesses considering setting up company in India. In this article advantages on Company registration in India from Australia, Documents for setting up Australian Company in India, and different business ways to register an Australia company in India.

Australia – India Business Relation

India and Australia, which are linked by the 3Cs—Curry, Commonwealth, and Cricket—were under British dominion and carried over a parliamentary style of government. Both nations share a number of similarities that provide a solid platform for increased cooperation and complex interaction similar to what India has established with other western nations.

Both nations are members of regional organizations including the ASEAN Regional Forum and the Indian Ocean Rim Association for Regional Cooperation. Since India’s economic reforms in the 1990s, the connection has strengthened and become more significant. It has advanced quickly in every sector, including trade, mining, science and technology, energy, information technology, and education.

Important point to keep in mind for Company Registration in India from Australia

• The Company must have at least two directors to be incorporated. At least one of them should be an Indian citizen.
• To establish an Indian subsidiary company in India, there is no minimum capital needed.
• A minimum of two shareholders are required for an Indian subsidiary company. Shareholders can be individuals, businesses, or a combination of the two.
• The Parent Company is required to own more than 50% of the entire equity share capital.
• For all directors, a director identification number is required.

Advantages of setting up Australian Company in India

• Significant market potential

India has the second-largest population in the world and the third-largest GDP in Asia. The potential Indian markets hold for any type of commercial operation is sufficiently explained by this remark. Additionally, you can gain access to significant consumer markets by taking advantage of the numerous FTA (Free Trade Agreement) and DTAA (Double Taxation Avoidance Agreement) that the government has signed.

• 100% Ownership

In case of Indian Subsidiary, FDI is allowed 100% without any prior permission However it requires posts facto filing/intimation to the Reserve Bank of India. Parent Company (based in any part of the world) can retain 100% effective ownership of its Indian Counter-part.

• Competitiveness in digital

India has emerged as a leader in technological innovation. High-tech businesses in industries including engineering, pharmaceuticals, information technology, textiles, and telecommunications are equally sophisticated and well-known as their counterparts outside. In fact, alongside China and the United States, India is increasingly acknowledged as a key force in technological innovation globally.

Documents for setting up Australian Company in India

• Notarized ID proof of all the Foreign Directors/shareholders
• Photograph of all the shareholders and directors
• Notarized address proof of the Foreign Directors/shareholders
• Notarized Address proof of a registered office of the Parent Company
• Address proof of a registered office of the Subsidiary Company in India
• Notarized Incorporation Certificate of the Parent Company

Specific Requirements  :

• The utility bill as address proof shall be submitted to ROC
• A company must have a registered office in India
• The use of a rental office as a registered office of a corporation requires a letter of authorization from the landlord
• Utility Bill/Bank Statement shall not be older than 2 months

Different Business ways to register an Australia company in India

The two main ways for Australian companies to set up in India:

• Private Limited Company Setup in India

For a company registration in India from Australia, incorporation of a Private Limited Company is the simplest and fastest sort of entry strategy into India. A Private Limited Company or limited corporation may accept up to 100 percent in foreign direct investment via the automatic route, which exempts such investments from Central Government approval. Therefore, the cheapest, simplest, and quickest entry method for Australian corporations and Australia citizens entering India is the incorporation of a Private Limited Company as a wholly-owned subsidiary of a foreign company or joint venture.

• Branch Office, Liaison Office, or Project Office Registration

RBI and/or government approval is required for Branch Office, Liaison Office, or Project Office Registration. As a result, registering a branch office, liaison office, or project office for a foreign company will cost more money and take more time than forming a Private Limited Company. Additionally, foreign nationals are not permitted to operate a project office, liaison office, or branch office. As a result, this approach can only be used as a foreign companies’ India entry strategy.

Conclusion

Creating a business in India is an easy online process. India, as one might imagine, is a country with boundless potential and a highly skilled workforce. It has never been easier, cheaper, or faster to invest and start a business in India. Anywhere in India, a wholly-owned Indian subsidiary can be established. There is no state-specific regulation in India for registering a business. The Indian Subsidiary Set Up is governed by a single national statute.