Business Setup Services in India for Foreign Companies

Foreign companies planning to establish operations in India need to choose the right business structure, understand foreign investment regulations and coordinate incorporation, banking, taxation and ongoing compliance from the beginning.

EzyBiz India provides end-to-end Business Setup Services in India for foreign companies, multinational groups and overseas investors. We assist businesses from the initial India-entry decision through entity selection, company incorporation, FDI and FEMA compliance, bank account opening, capital infusion, GST, transfer pricing and ongoing accounting and regulatory support.

Depending on your commercial objectives, a business setup in India may be structured through a Wholly Owned Subsidiary, Joint Venture, Limited Liability Partnership, Branch Office, Liaison Office or Project Office. In some situations, a foreign company may initially operate through a distributor, importer, service arrangement or another legally permissible model without incorporating an Indian entity.

Regulatory Position Reviewed: September 2026

Business Setup in India – Quick Overview

Setting up a business in India involves much more than obtaining a Certificate of Incorporation. Foreign investors should first determine the appropriate entry structure and applicable FDI route, and then plan incorporation, banking, foreign capital, taxation and post-incorporation compliance in the correct sequence.

What Can a Foreign Company Set Up in India?

Depending on its business activity and investment plan, a foreign company may consider:

• Wholly Owned Subsidiary in India
• Joint Venture with an Indian or overseas partner
• Limited Liability Partnership, where permitted
• Branch Office in India
• Liaison Office in India
• Project Office in India
• Distributor, importer or contractual business model without immediate incorporation

The appropriate structure should be selected only after reviewing the proposed activities, ownership requirements, expected revenue model, FDI regulations, taxation, funding and long-term India strategy.

What Does EzyBiz Handle?

Our business setup support can include:

• India entry and business-structure advisory
• FDI eligibility and FEMA review
• Foreign shareholder and director documentation
• Notarisation/apostille guidance
• Digital Signature Certificates
• Company name reservation and incorporation
• PAN and TAN
• Registered-office coordination
• Bank account opening assistance
• Foreign capital infusion
• Share allotment and applicable RBI reporting
• GST and other registrations
• Transfer pricing and international tax
• Accounting, payroll and corporate compliance

Foreign companies requiring broader strategic assistance may also review our India Market Entry Consulting Services.

Which Business Structure Should a Foreign Company Choose in India?

For many foreign businesses planning long-term commercial operations, an Indian private limited company or Wholly Owned Subsidiary is often the most flexible structure. However, the correct choice depends on what the foreign company actually intends to do in India.

Wholly Owned Subsidiary

A Wholly Owned Subsidiary in India is generally suitable where the foreign parent wants long-term operations, significant management control and the ability to carry on permitted commercial activities in India.

Foreign ownership of up to 100% is permitted in many sectors, subject to the applicable FDI policy, entry route and sector-specific conditions.

An Indian subsidiary is a separate legal entity from its foreign parent and can ordinarily enter contracts, employ people, open bank accounts, own assets and earn revenue from permitted business activities.

Joint Venture

A Joint Venture may be appropriate where an Indian strategic partner can contribute distribution, customer relationships, licences, technology, manufacturing capability, infrastructure, local knowledge or other commercial advantages.

Before incorporating a JV, the parties should clearly agree on shareholding, Board representation, reserved matters, funding obligations, intellectual property, transfer restrictions, deadlock resolution and exit rights.

Limited Liability Partnership

An LLP can be considered for certain professional, consultancy, service and knowledge-based businesses where foreign investment is permitted under the applicable framework.

The decision should consider not only incorporation flexibility but also foreign investment conditions, taxation, profit distribution, future fundraising and exit requirements.

Branch Office

A Branch Office in India is an extension of the foreign parent rather than a separate Indian company.

It may undertake only permitted activities and is generally considered where the overseas company wants to conduct specified commercial activities directly in India without establishing a subsidiary.

Eligibility, permitted activities, regulatory approvals, taxation and FEMA requirements should be reviewed before selecting this structure.

Liaison Office

A Liaison Office in India is primarily a representative office.

It may generally undertake permitted liaison, communication, promotional and market-development activities but cannot ordinarily carry on regular commercial or revenue-generating operations in India.

It is therefore more suitable for market exploration and representation than full-scale commercial operations.

Project Office

A Project Office in India is primarily used where a foreign company has secured a specific project or contract in India and wants a temporary presence connected with execution of that project.

The structure is commonly evaluated for infrastructure, construction, engineering and other project-based activities.

Do You Need an Indian Entity at All?

Not every foreign business needs to incorporate immediately.

A foreign company that is testing the market may initially consider a distributor, importer, independent service provider or contractual arrangement.

However, the foreign company should carefully evaluate Permanent Establishment exposure, GST implications, withholding tax, employee presence, contract execution, invoicing and FEMA issues before operating in India without an entity.

For a detailed overview, see our Foreign Company Registration in India guide.

WOS vs JV vs LLP vs Branch Office vs Liaison Office vs Project Office

There is no single structure that is best for every foreign investor. The structure should match the business objective rather than simply the fastest or cheapest incorporation option.

Quick Comparison of India Entry Structures

Structure	Separate Indian Legal Entity	Revenue Generation	Foreign Ownership	Common Use
Wholly Owned Subsidiary	Yes	Yes	Up to 100% where permitted	Long-term India operations
Joint Venture	Yes	Yes	As agreed, subject to FDI rules	Strategic Indian partnership
LLP	Yes	Yes	Subject to applicable FDI conditions	Consulting/professional businesses
Branch Office	No	Permitted activities only	Extension of foreign parent	Specified commercial activities
Liaison Office	No	No	Extension of foreign parent	Market research and representation
Project Office	No	Project-related	Extension of foreign parent	Execution of a specific Indian project

Recommended Structure by Business Objective

A Wholly Owned Subsidiary is commonly considered where the foreign investor wants complete ownership and scalable operations.

A Joint Venture may be preferable where a local strategic partner adds material commercial value.

A Liaison Office may be suitable where the business only wants to understand the market and develop relationships without earning revenue.

A Branch Office may be evaluated for specified permitted activities conducted directly by the overseas entity.

A Project Office is normally linked to execution of a particular project.

An LLP may be considered for eligible businesses where its commercial and tax characteristics fit the proposed model.

FDI and FEMA Requirements for Business Setup in India

Foreign investment into India is governed by the applicable FDI framework, FEMA and the Foreign Exchange Management (Non-Debt Instruments) Rules, together with sector-specific regulations.

The FDI review should be completed before the ownership structure and capital-flow process are finalised.

Automatic Route vs Government Route

Under the Automatic Route, prior Government approval is generally not required where the investment falls within the permitted sectoral conditions.

Under the Government Route, prior approval may be required before the foreign investment is made.

Foreign investors should therefore determine the applicable route before remitting funds or issuing shares.

Sectoral Caps and Conditions

Foreign ownership limits and investment conditions differ between sectors.

Although 100% foreign investment is permitted in many activities, some sectors have ownership caps, licensing conditions, minimum-capital requirements or other regulatory restrictions.

The proposed business activity should therefore be mapped correctly before incorporation.

Investor-Country and Beneficial Ownership Restrictions

The country of incorporation, citizenship, residence and ultimate beneficial ownership of the investor can affect the applicable approval route.

This is particularly important where the investment involves jurisdictions subject to additional scrutiny under India’s foreign investment framework.

The complete ownership chain should therefore be reviewed before finalising the Indian shareholding structure.

FEMA Pricing, Funding and Reporting

The funding plan should consider:

• type of equity instrument;
• pricing and valuation requirements;
• mode of remittance;
• timing of share allotment;
• foreign investment reporting;
• future capital infusion;
• transfer of shares; and
• repatriation or restructuring.

Our FDI and FEMA Compliance Services cover foreign investment structuring, RBI reporting and ongoing FEMA compliance.

Step-by-Step Business Setup Process in India

A foreign-owned business should follow a planned sequence. Starting incorporation before reviewing FDI, banking or overseas-document requirements can create unnecessary delays later.

Step 1 – Define the Proposed India Business Activity and Entry Structure

The first step is to identify:

• activities to be undertaken in India;
• expected customers;
• revenue model;
• employees;
• ownership requirements;
• capital requirement;
• proposed location; and
• long-term expansion plan.

Based on these facts, the appropriate subsidiary, JV, LLP, Branch Office, Liaison Office, Project Office or non-entity model can be evaluated.

Step 2 – Review FDI Eligibility and Finalise Ownership

Before filing incorporation documents, determine:

• whether the proposed activity permits foreign investment;
• applicable sectoral cap;
• Automatic or Government Route;
• investor-country restrictions;
• beneficial ownership;
• proposed shareholding; and
• any sectoral licence requirements.

Step 3 – Finalise Directors, Registered Office and Foreign Documents

For an Indian company, the proposed directors and shareholders are identified and the registered office is arranged.

Foreign documents may require notarisation, apostille or consular legalisation depending on the country of execution and applicable requirements.

Digital Signature Certificates are also obtained for the relevant subscribers/directors.

Step 4 – Name Reservation and Company Incorporation

The incorporation application is filed through the Ministry of Corporate Affairs using the applicable SPICe+ framework and linked forms.

The incorporation process ordinarily covers the company name, constitutional documents, directors, subscribers, registered-office particulars and integrated registrations such as PAN and TAN.

Foreign-owned companies can also review our broader Company Registration in India service.

Step 5 – Bank Account, Foreign Capital and Operational Registrations

After incorporation, the company generally proceeds with:

1. Board and statutory formalities;
2. bank account opening;
3. foreign capital remittance;
4. allotment of shares;
5. applicable FEMA/RBI reporting;
6. GST and other registrations;
7. accounting and payroll implementation; and
8. ongoing compliance.

The practical objective should be operational readiness, not merely obtaining the Certificate of Incorporation.

Documents Required for Business Setup in India

The document checklist depends on the selected structure, investor profile, country of incorporation and proposed directors.

Documents From an Overseas Corporate Shareholder

Typical documents may include:

• Certificate of Incorporation;
• constitutional or charter documents;
• registered-office proof;
• Board Resolution approving the India investment;
• authorised signatory details;
• organisational and ownership structure;
• ultimate beneficial ownership information; and
• notarised/apostilled/legalised documents, as applicable.

Documents From Foreign Individual Shareholders and Directors

Commonly required documents include:

• passport;
• overseas residential address proof;
• photograph;
• email and mobile details;
• tax or identification details, where applicable; and
• duly notarised/apostilled/legalised declarations and incorporation documents.

The exact requirements depend on the person’s citizenship, residence, role and country of document execution.

Indian Registered Office Documents

An Indian company requires a registered office in India.

Depending on the arrangement, documents may include:

• ownership document or rent/lease agreement;
• utility bill;
• consent or NOC from the owner; and
• other address evidence required for incorporation or subsequent verification.

The registered office can be changed later in accordance with applicable company-law procedures.

Cost of Setting Up a Business in India

There is no single fixed statutory cost applicable to every foreign-owned business. The cost depends on the structure, authorised capital, state of registered office, number of foreign shareholders/directors, documentation requirements and regulatory approvals.

Incorporation and Government Costs

The main establishment costs may include:

• MCA filing and incorporation fees;
• state-specific stamp duty;
• Digital Signature Certificates;
• registered-office costs;
• statutory registers and corporate documentation; and
• applicable approval or registration charges.

Government and stamp-duty costs can vary based on capital and state.

Overseas Documentation and Professional Costs

Foreign-owned incorporations may additionally involve:

• notarisation;
• apostille;
• consular legalisation;
• certified translations;
• international courier expenses;
• bank/KYC documentation;
• FEMA and RBI reporting;
• GST and other licences; and
• professional advisory fees.

A proper quote should therefore be based on the proposed structure and complete scope rather than only the incorporation filing.

Business Setup Timeline in India

The business setup timeline should be divided between legal incorporation and actual operational readiness.

A foreign-owned private company can often be incorporated within approximately 2–4 weeks after complete and properly legalised documentation is available, subject to MCA processing, name approval and case-specific requirements. Banking, capital infusion, GST and operating registrations may require additional time.

Incorporation Timeline

The incorporation stage normally involves:

• overseas document preparation;
• apostille/legalisation;
• DSC;
• name approval;
• SPICe+ preparation;
• MCA review; and
• issuance of the Certificate of Incorporation.

Cases requiring Government approval, special licences or additional regulatory review may take longer.

Operational Readiness and Common Causes of Delay

In practice, the most common delays arise from:

• incomplete foreign documents;
• inconsistent names or addresses;
• apostille/legalisation delays;
• unclear beneficial ownership;
• sector/FDI questions;
• bank KYC;
• shareholder documentation;
• registered-office issues; and
• regulatory approval requirements.

This is why the implementation plan should cover incorporation, banking, funding and post-incorporation compliance together.

Bank Account, Capital Infusion and FC-GPR

Banking is a critical part of a foreign-owned business setup and should be planned before incorporation is completed.

Corporate Bank Account and KYC

Indian banks undertake KYC and beneficial-ownership checks before activating the corporate bank account.

Depending on the bank and investor profile, they may seek:

• Indian incorporation documents;
• foreign parent documents;
• shareholder/director KYC;
• organisational structure;
• beneficial-owner information;
• business profile;
• expected transaction pattern;
• source of funds; and
• supporting commercial information.

Foreign promoters should therefore avoid assuming that bank activation will be automatic immediately after incorporation.

Foreign Capital Infusion and Share Allotment

Once the appropriate bank account and documentation are ready, foreign capital can be remitted through permitted banking channels.

The company should correctly record the remittance, complete the required corporate approvals, issue shares within the applicable regulatory framework and maintain supporting documents.

FC-GPR and Ongoing FEMA Reporting

Where an Indian company issues equity instruments to a non-resident investor, applicable foreign-investment reporting must be completed within the prescribed FEMA/RBI framework.

Other reporting requirements may arise for:

• future capital infusions;
• transfer of shares;
• downstream investments;
• foreign liabilities and assets;
• external commercial borrowings; and
• restructuring.

Foreign-owned businesses should maintain a FEMA compliance calendar from the first year itself.

Tax, GST and Transfer Pricing Considerations

Tax planning should begin when the business structure is selected rather than after operations commence.

Foreign-owned businesses commonly need coordinated advice covering Indian corporate tax, GST, withholding tax, international taxation and transfer pricing.

Corporate Income Tax and Withholding Tax

An Indian subsidiary is generally taxed in India as an Indian company under the applicable provisions of the Income-tax Act, 2025, effective from 1 April 2026.

The applicable effective tax rate depends on the company’s facts, available tax regime, incentives and business activities.

Payments such as salary, professional fees, rent, interest, royalty and cross-border service charges may also carry withholding obligations.

For cross-border tax matters, see our International Tax Advisory Services.

GST and Indirect Tax

GST registration and compliance depend on the nature and scale of supplies, location, turnover and other applicable provisions.

Businesses should review GST implications for:

• domestic sales;
• imports;
• exports;
• inter-state supplies;
• services received from overseas parties;
• reverse-charge transactions; and
• input tax credit.

GST should also be considered while designing customer contracts and inter-company arrangements.

Transfer Pricing, Inter-Company Charges and Repatriation

Transactions between an Indian company and its foreign parent or other associated enterprises may be subject to Indian transfer pricing requirements.

Common transactions include:

• management fees;
• technical services;
• software or licence charges;
• cost reimbursements;
• inter-company services;
• loans;
• royalties; and
• purchase or sale of goods.

Such transactions should be structured and documented on an arm’s-length basis.

Our Transfer Pricing Advisory Services include benchmarking, documentation, Form 3CEB support and advisory for multinational groups.

First 90 Days After Company Incorporation

Obtaining the Certificate of Incorporation is only the beginning. The first 90 days are important for establishing a compliant operating framework.

Corporate and Statutory Records

The new company should complete applicable initial corporate actions relating to:

• Board meetings and resolutions;
• share certificates;
• statutory registers;
• registered office;
• auditor appointment;
• commencement-related filings, where applicable; and
• maintenance of corporate records.

Accounting, Tax, Payroll and Operating Compliance

Before regular transactions begin, management should establish:

• accounting system;
• chart of accounts;
• invoicing process;
• GST process;
• withholding-tax controls;
• payroll;
• employee documentation;
• expense approval process;
• bank approval controls; and
• monthly financial reporting.

Foreign-owned subsidiaries can use our Accounting and Bookkeeping Services in India for ongoing finance and reporting support.

FEMA and Annual Compliance Calendar

The company should maintain a calendar covering applicable:

• ROC filings;
• income-tax filings;
• GST returns;
• TDS/withholding tax;
• transfer pricing;
• statutory audit;
• FEMA reporting;
• FLA reporting;
• payroll compliance; and
• other sector-specific obligations.

Creating the compliance framework at the outset is significantly easier than correcting missed filings later.

Common Mistakes Foreign Companies Make While Setting Up in India

Many delays occur not because incorporation is difficult, but because banking, foreign investment, documentation and post-incorporation requirements were not considered during the planning stage.

Choosing the Structure Only on the Basis of Incorporation Cost

The cheapest or quickest structure is not necessarily the best long-term structure.

The decision should consider revenue generation, ownership control, taxation, employee hiring, capital requirements, repatriation and future expansion.

Changing an unsuitable structure later can be considerably more expensive than proper planning at the beginning.

Remitting Funds Before Finalising the FEMA Process

Foreign capital should not be remitted casually.

The company should first understand the permitted investment structure, bank documentation, valuation/pricing requirements, share-allotment process and RBI reporting obligations.

Underestimating Bank KYC and Post-Incorporation Work

Foreign investors sometimes assume that incorporation means the company is immediately ready to trade.

In reality, banking KYC, funding, GST, accounting, payroll, contracts, transfer pricing and corporate compliance may still need to be completed.

Planning these activities in parallel can materially shorten the time to operational readiness.

Why Choose EzyBiz for Business Setup Services in India?

Foreign companies entering India typically need support across several connected areas rather than a standalone incorporation filing.

EzyBiz India combines India-entry advisory, company incorporation, taxation, FDI/FEMA, accounting and ongoing regulatory compliance within one coordinated engagement.

CA-Led and Cross-Border Advisory

Our India-entry engagements are led by professionals experienced in:

• business structuring;
• taxation;
• FEMA;
• foreign investment;
• transfer pricing;
• corporate compliance; and
• cross-border business matters.

This helps identify tax and regulatory issues before they become post-incorporation problems.

Implementation and Ongoing Support Under One Team

Our role can continue after incorporation through:

• bank account assistance;
• FDI/FEMA reporting;
• GST;
• accounting;
• payroll;
• transfer pricing;
• taxation;
• ROC compliance; and
• management reporting.

This allows overseas management to coordinate its India setup with one professional team rather than multiple disconnected service providers.

Representative India Business Setup Situations

The exact implementation path differs significantly between an overseas group establishing a conventional trading company and a multinational establishing a captive services or technology operation.

The following situations illustrate the type of planning required.

Overseas-Owned Operating Subsidiary

A foreign shareholder planning a new India operation may require assistance with:

• foreign ownership structuring;
• resident director arrangements;
• foreign shareholder documentation;
• registered office;
• incorporation;
• corporate bank account;
• initial capital remittance;
• share allotment;
• FEMA reporting; and
• GST and operating compliance.

The key practical issue is sequencing these tasks so that the company becomes operational without creating a foreign-investment or banking compliance gap.

Captive Services, Technology or GCC Structure

A multinational establishing an Indian captive operation may additionally require:

• Indian subsidiary setup;
• employee hiring;
• inter-company service agreement;
• cost-plus pricing;
• transfer pricing benchmarking;
• overseas group reporting;
• intellectual-property considerations; and
• ongoing accounting and payroll.

Businesses planning technology, finance, analytics, engineering or shared-service operations can also review our Global Capability Centre Setup in India service.

Country-Specific India Entry Guidance

Although India’s basic company-law and foreign-investment framework applies generally, investor-country considerations can materially affect documentation, approval route, banking KYC and practical implementation.

India Entry Planning by Investor Country

Foreign investors can review our India Market Entry Services by Country together with the following country-specific resources:

• India Market Entry Services for US Companies
• India Market Entry Services for Chinese Companies
• India Market Entry Services for Taiwanese Companies
• Company Registration in India for Japanese Companies

Country-specific advice is especially important where additional investment approval, legalisation, ownership or banking requirements apply.

Frequently Asked Questions About Business Setup in India

Below are answers to common questions foreign companies ask before setting up operations in India.

Can a Foreign Company Own 100% of an Indian Company?

Yes. Foreign ownership of up to 100% is permitted in many sectors, subject to India’s prevailing FDI policy, entry route, investor profile and sector-specific conditions.

Where 100% foreign investment is available under the Automatic Route, prior Government approval may generally not be required solely because the shareholder is foreign.

However, the proposed activity and ultimate ownership should always be reviewed before investment.

Which Business Structure Is Best for a Foreign Company in India?

For businesses planning long-term commercial operations, an Indian private limited company or Wholly Owned Subsidiary is frequently considered because it provides a separate legal entity and greater operational flexibility.

A Joint Venture may be preferable where a strong Indian partner is commercially valuable. Branch, Liaison and Project Offices are more specialised structures with different activity restrictions.

How long does business setup in India take?

A straightforward foreign-owned Indian company may often be incorporated in approximately 2–4 weeks after complete legalised documents are available. Banking, capital infusion, GST and operational registrations can extend the overall implementation period.

Is there a minimum capital requirement for an Indian private limited company?

There is no general statutory minimum paid-up capital applicable to every private limited company. However, the appropriate initial capital should reflect operational requirements, and sector-specific conditions may apply.

Does a foreign company need an Indian shareholder?

Not necessarily. Up to 100% foreign ownership is permitted in many sectors, subject to the prevailing FDI framework.

A private company does, however, require the prescribed minimum number of members, which should be structured correctly where the foreign parent intends to retain complete beneficial ownership.

Does a foreign-owned company require an Indian resident director?

An Indian company must satisfy the resident-director requirements prescribed under the Companies Act.

Foreign nationals may also act as directors subject to applicable identification, documentation and legal requirements.

Does a foreign company need a physical office before incorporation?

An Indian company must maintain a registered office in India in accordance with the Companies Act.

The appropriate office arrangement depends on the proposed operations, banking requirements, GST registration and commercial needs.

Is RBI approval required for every foreign-owned company?

No. Foreign investment in many sectors is permitted under the Automatic Route subject to the applicable conditions.

However, certain sectors, investor profiles or transactions may require prior Government or regulatory approval.

Is FC-GPR required after foreign investment?

Where an Indian company issues applicable equity instruments to a non-resident investor, the transaction is subject to applicable FEMA/RBI reporting requirements.

The reporting obligation should be reviewed based on the nature of investment and instrument issued.

Does a foreign-owned company require GST registration?

GST registration depends on the nature of supplies, turnover, location, business model and applicable GST provisions.

Foreign ownership by itself does not determine GST registration liability.

Can an Indian subsidiary hire employees?

Yes. An Indian subsidiary can employ personnel in India subject to applicable employment, payroll, tax, social-security and labour-law requirements.

Can profits be repatriated to the foreign parent?

Profits may be repatriated through legally permissible mechanisms such as dividends, subject to applicable corporate, tax, withholding, FEMA and banking requirements.

Other cross-border payments such as service fees, royalties or interest should also be supported by appropriate agreements and tax/transfer-pricing analysis.

Official Regulatory Sources and Related India Entry Services

Foreign investors should refer to current Government and regulatory sources because FDI, FEMA, company-law and tax requirements can change over time.

Official Regulatory Sources

For current statutory and regulatory information, refer to:

• Ministry of Corporate Affairs – MCA — company incorporation and Companies Act filings
• Reserve Bank of India – RBI — FEMA, foreign investment and banking regulations
• Department for Promotion of Industry and Internal Trade – DPIIT — FDI policy and investment framework
• GST Portal — GST registration and compliance
• Income Tax Department — Income-tax Act, 2025, taxation and compliance

Related India Entry Services

• India Market Entry Consulting
• Foreign Company Registration in India
• Wholly Owned Subsidiary in India
• Branch Office in India
• Liaison Office in India
• Project Office in India
• FDI and FEMA Compliance in India
• International Tax Advisory
• Transfer Pricing Advisory
• Global Capability Centre Setup in India
• Accounting and Bookkeeping Services in India

Reviewed By and Disclaimer

Reviewed By

Anil Agrawal, Chartered Accountant
Founder, EzyBiz India Consulting LLP, New Delhi

Anil Agrawal is a Chartered Accountant with more than 20 years of professional experience in taxation, India market entry, business setup, FEMA, international taxation, transfer pricing and regulatory advisory matters.

Last Updated: September 2026
Regulatory Position Reviewed: September 2026

Disclaimer

The information provided on this page is for general informational and educational purposes only and should not be treated as legal, tax, investment or regulatory advice.

The requirements for establishing and operating a business in India may vary depending on the proposed activities, sector, investor nationality and beneficial ownership, business structure, source of investment, location and applicable laws and regulations.

Foreign investors should obtain professional advice based on their specific facts before incorporating an entity, transferring funds, issuing shares, entering contracts or commencing operations in India.

Business Setup Services in India for Foreign Companies

Foreign companies planning to establish operations in India need to choose the right business structure, understand foreign investment regulations and coordinate incorporation, banking, taxation and ongoing compliance from the beginning.

EzyBiz India provides end-to-end Business Setup Services in India for foreign companies, multinational groups and overseas investors. We assist businesses from the initial India-entry decision through entity selection, company incorporation, FDI and FEMA compliance, bank account opening, capital infusion, GST, transfer pricing and ongoing accounting and regulatory support.

Depending on your commercial objectives, a business setup in India may be structured through a Wholly Owned Subsidiary, Joint Venture, Limited Liability Partnership, Branch Office, Liaison Office or Project Office. In some situations, a foreign company may initially operate through a distributor, importer, service arrangement or another legally permissible model without incorporating an Indian entity.

Regulatory Position Reviewed: September 2026

Business Setup in India – Quick Overview

Setting up a business in India involves much more than obtaining a Certificate of Incorporation. Foreign investors should first determine the appropriate entry structure and applicable FDI route, and then plan incorporation, banking, foreign capital, taxation and post-incorporation compliance in the correct sequence.

What Can a Foreign Company Set Up in India?

Depending on its business activity and investment plan, a foreign company may consider:

• Wholly Owned Subsidiary in India
• Joint Venture with an Indian or overseas partner
• Limited Liability Partnership, where permitted
• Branch Office in India
• Liaison Office in India
• Project Office in India
• Distributor, importer or contractual business model without immediate incorporation

The appropriate structure should be selected only after reviewing the proposed activities, ownership requirements, expected revenue model, FDI regulations, taxation, funding and long-term India strategy.

What Does EzyBiz Handle?

Our business setup support can include:

• India entry and business-structure advisory
• FDI eligibility and FEMA review
• Foreign shareholder and director documentation
• Notarisation/apostille guidance
• Digital Signature Certificates
• Company name reservation and incorporation
• PAN and TAN
• Registered-office coordination
• Bank account opening assistance
• Foreign capital infusion
• Share allotment and applicable RBI reporting
• GST and other registrations
• Transfer pricing and international tax
• Accounting, payroll and corporate compliance

Foreign companies requiring broader strategic assistance may also review our India Market Entry Consulting Services.

Which Business Structure Should a Foreign Company Choose in India?

For many foreign businesses planning long-term commercial operations, an Indian private limited company or Wholly Owned Subsidiary is often the most flexible structure. However, the correct choice depends on what the foreign company actually intends to do in India.

Wholly Owned Subsidiary

A Wholly Owned Subsidiary in India is generally suitable where the foreign parent wants long-term operations, significant management control and the ability to carry on permitted commercial activities in India.

Foreign ownership of up to 100% is permitted in many sectors, subject to the applicable FDI policy, entry route and sector-specific conditions.

An Indian subsidiary is a separate legal entity from its foreign parent and can ordinarily enter contracts, employ people, open bank accounts, own assets and earn revenue from permitted business activities.

Joint Venture

A Joint Venture may be appropriate where an Indian strategic partner can contribute distribution, customer relationships, licences, technology, manufacturing capability, infrastructure, local knowledge or other commercial advantages.

Before incorporating a JV, the parties should clearly agree on shareholding, Board representation, reserved matters, funding obligations, intellectual property, transfer restrictions, deadlock resolution and exit rights.

Limited Liability Partnership

An LLP can be considered for certain professional, consultancy, service and knowledge-based businesses where foreign investment is permitted under the applicable framework.

The decision should consider not only incorporation flexibility but also foreign investment conditions, taxation, profit distribution, future fundraising and exit requirements.

Branch Office

A Branch Office in India is an extension of the foreign parent rather than a separate Indian company.

It may undertake only permitted activities and is generally considered where the overseas company wants to conduct specified commercial activities directly in India without establishing a subsidiary.

Eligibility, permitted activities, regulatory approvals, taxation and FEMA requirements should be reviewed before selecting this structure.

Liaison Office

A Liaison Office in India is primarily a representative office.

It may generally undertake permitted liaison, communication, promotional and market-development activities but cannot ordinarily carry on regular commercial or revenue-generating operations in India.

It is therefore more suitable for market exploration and representation than full-scale commercial operations.

Project Office

A Project Office in India is primarily used where a foreign company has secured a specific project or contract in India and wants a temporary presence connected with execution of that project.

The structure is commonly evaluated for infrastructure, construction, engineering and other project-based activities.

Do You Need an Indian Entity at All?

Not every foreign business needs to incorporate immediately.

A foreign company that is testing the market may initially consider a distributor, importer, independent service provider or contractual arrangement.

However, the foreign company should carefully evaluate Permanent Establishment exposure, GST implications, withholding tax, employee presence, contract execution, invoicing and FEMA issues before operating in India without an entity.

For a detailed overview, see our Foreign Company Registration in India guide.

WOS vs JV vs LLP vs Branch Office vs Liaison Office vs Project Office

There is no single structure that is best for every foreign investor. The structure should match the business objective rather than simply the fastest or cheapest incorporation option.

Quick Comparison of India Entry Structures

Structure	Separate Indian Legal Entity	Revenue Generation	Foreign Ownership	Common Use
Wholly Owned Subsidiary	Yes	Yes	Up to 100% where permitted	Long-term India operations
Joint Venture	Yes	Yes	As agreed, subject to FDI rules	Strategic Indian partnership
LLP	Yes	Yes	Subject to applicable FDI conditions	Consulting/professional businesses
Branch Office	No	Permitted activities only	Extension of foreign parent	Specified commercial activities
Liaison Office	No	No	Extension of foreign parent	Market research and representation
Project Office	No	Project-related	Extension of foreign parent	Execution of a specific Indian project

Recommended Structure by Business Objective

A Wholly Owned Subsidiary is commonly considered where the foreign investor wants complete ownership and scalable operations.

A Joint Venture may be preferable where a local strategic partner adds material commercial value.

A Liaison Office may be suitable where the business only wants to understand the market and develop relationships without earning revenue.

A Branch Office may be evaluated for specified permitted activities conducted directly by the overseas entity.

A Project Office is normally linked to execution of a particular project.

An LLP may be considered for eligible businesses where its commercial and tax characteristics fit the proposed model.

FDI and FEMA Requirements for Business Setup in India

Foreign investment into India is governed by the applicable FDI framework, FEMA and the Foreign Exchange Management (Non-Debt Instruments) Rules, together with sector-specific regulations.

The FDI review should be completed before the ownership structure and capital-flow process are finalised.

Automatic Route vs Government Route

Under the Automatic Route, prior Government approval is generally not required where the investment falls within the permitted sectoral conditions.

Under the Government Route, prior approval may be required before the foreign investment is made.

Foreign investors should therefore determine the applicable route before remitting funds or issuing shares.

Sectoral Caps and Conditions

Foreign ownership limits and investment conditions differ between sectors.

Although 100% foreign investment is permitted in many activities, some sectors have ownership caps, licensing conditions, minimum-capital requirements or other regulatory restrictions.

The proposed business activity should therefore be mapped correctly before incorporation.

Investor-Country and Beneficial Ownership Restrictions

The country of incorporation, citizenship, residence and ultimate beneficial ownership of the investor can affect the applicable approval route.

This is particularly important where the investment involves jurisdictions subject to additional scrutiny under India’s foreign investment framework.

The complete ownership chain should therefore be reviewed before finalising the Indian shareholding structure.

FEMA Pricing, Funding and Reporting

The funding plan should consider:

• type of equity instrument;
• pricing and valuation requirements;
• mode of remittance;
• timing of share allotment;
• foreign investment reporting;
• future capital infusion;
• transfer of shares; and
• repatriation or restructuring.

Our FDI and FEMA Compliance Services cover foreign investment structuring, RBI reporting and ongoing FEMA compliance.

Step-by-Step Business Setup Process in India

A foreign-owned business should follow a planned sequence. Starting incorporation before reviewing FDI, banking or overseas-document requirements can create unnecessary delays later.

Step 1 – Define the Proposed India Business Activity and Entry Structure

The first step is to identify:

• activities to be undertaken in India;
• expected customers;
• revenue model;
• employees;
• ownership requirements;
• capital requirement;
• proposed location; and
• long-term expansion plan.

Based on these facts, the appropriate subsidiary, JV, LLP, Branch Office, Liaison Office, Project Office or non-entity model can be evaluated.

Step 2 – Review FDI Eligibility and Finalise Ownership

Before filing incorporation documents, determine:

• whether the proposed activity permits foreign investment;
• applicable sectoral cap;
• Automatic or Government Route;
• investor-country restrictions;
• beneficial ownership;
• proposed shareholding; and
• any sectoral licence requirements.

Step 3 – Finalise Directors, Registered Office and Foreign Documents

For an Indian company, the proposed directors and shareholders are identified and the registered office is arranged.

Foreign documents may require notarisation, apostille or consular legalisation depending on the country of execution and applicable requirements.

Digital Signature Certificates are also obtained for the relevant subscribers/directors.

Step 4 – Name Reservation and Company Incorporation

The incorporation application is filed through the Ministry of Corporate Affairs using the applicable SPICe+ framework and linked forms.

The incorporation process ordinarily covers the company name, constitutional documents, directors, subscribers, registered-office particulars and integrated registrations such as PAN and TAN.

Foreign-owned companies can also review our broader Company Registration in India service.

Step 5 – Bank Account, Foreign Capital and Operational Registrations

After incorporation, the company generally proceeds with:

1. Board and statutory formalities;
2. bank account opening;
3. foreign capital remittance;
4. allotment of shares;
5. applicable FEMA/RBI reporting;
6. GST and other registrations;
7. accounting and payroll implementation; and
8. ongoing compliance.

The practical objective should be operational readiness, not merely obtaining the Certificate of Incorporation.

Documents Required for Business Setup in India

The document checklist depends on the selected structure, investor profile, country of incorporation and proposed directors.

Documents From an Overseas Corporate Shareholder

Typical documents may include:

• Certificate of Incorporation;
• constitutional or charter documents;
• registered-office proof;
• Board Resolution approving the India investment;
• authorised signatory details;
• organisational and ownership structure;
• ultimate beneficial ownership information; and
• notarised/apostilled/legalised documents, as applicable.

Documents From Foreign Individual Shareholders and Directors

Commonly required documents include:

• passport;
• overseas residential address proof;
• photograph;
• email and mobile details;
• tax or identification details, where applicable; and
• duly notarised/apostilled/legalised declarations and incorporation documents.

The exact requirements depend on the person’s citizenship, residence, role and country of document execution.

Indian Registered Office Documents

An Indian company requires a registered office in India.

Depending on the arrangement, documents may include:

• ownership document or rent/lease agreement;
• utility bill;
• consent or NOC from the owner; and
• other address evidence required for incorporation or subsequent verification.

The registered office can be changed later in accordance with applicable company-law procedures.

Cost of Setting Up a Business in India

There is no single fixed statutory cost applicable to every foreign-owned business. The cost depends on the structure, authorised capital, state of registered office, number of foreign shareholders/directors, documentation requirements and regulatory approvals.

Incorporation and Government Costs

The main establishment costs may include:

• MCA filing and incorporation fees;
• state-specific stamp duty;
• Digital Signature Certificates;
• registered-office costs;
• statutory registers and corporate documentation; and
• applicable approval or registration charges.

Government and stamp-duty costs can vary based on capital and state.

Overseas Documentation and Professional Costs

Foreign-owned incorporations may additionally involve:

• notarisation;
• apostille;
• consular legalisation;
• certified translations;
• international courier expenses;
• bank/KYC documentation;
• FEMA and RBI reporting;
• GST and other licences; and
• professional advisory fees.

A proper quote should therefore be based on the proposed structure and complete scope rather than only the incorporation filing.

Business Setup Timeline in India

The business setup timeline should be divided between legal incorporation and actual operational readiness.

A foreign-owned private company can often be incorporated within approximately 2–4 weeks after complete and properly legalised documentation is available, subject to MCA processing, name approval and case-specific requirements. Banking, capital infusion, GST and operating registrations may require additional time.

Incorporation Timeline

The incorporation stage normally involves:

• overseas document preparation;
• apostille/legalisation;
• DSC;
• name approval;
• SPICe+ preparation;
• MCA review; and
• issuance of the Certificate of Incorporation.

Cases requiring Government approval, special licences or additional regulatory review may take longer.

Operational Readiness and Common Causes of Delay

In practice, the most common delays arise from:

• incomplete foreign documents;
• inconsistent names or addresses;
• apostille/legalisation delays;
• unclear beneficial ownership;
• sector/FDI questions;
• bank KYC;
• shareholder documentation;
• registered-office issues; and
• regulatory approval requirements.

This is why the implementation plan should cover incorporation, banking, funding and post-incorporation compliance together.

Bank Account, Capital Infusion and FC-GPR

Banking is a critical part of a foreign-owned business setup and should be planned before incorporation is completed.

Corporate Bank Account and KYC

Indian banks undertake KYC and beneficial-ownership checks before activating the corporate bank account.

Depending on the bank and investor profile, they may seek:

• Indian incorporation documents;
• foreign parent documents;
• shareholder/director KYC;
• organisational structure;
• beneficial-owner information;
• business profile;
• expected transaction pattern;
• source of funds; and
• supporting commercial information.

Foreign promoters should therefore avoid assuming that bank activation will be automatic immediately after incorporation.

Foreign Capital Infusion and Share Allotment

Once the appropriate bank account and documentation are ready, foreign capital can be remitted through permitted banking channels.

The company should correctly record the remittance, complete the required corporate approvals, issue shares within the applicable regulatory framework and maintain supporting documents.

FC-GPR and Ongoing FEMA Reporting

Where an Indian company issues equity instruments to a non-resident investor, applicable foreign-investment reporting must be completed within the prescribed FEMA/RBI framework.

Other reporting requirements may arise for:

• future capital infusions;
• transfer of shares;
• downstream investments;
• foreign liabilities and assets;
• external commercial borrowings; and
• restructuring.

Foreign-owned businesses should maintain a FEMA compliance calendar from the first year itself.

Tax, GST and Transfer Pricing Considerations

Tax planning should begin when the business structure is selected rather than after operations commence.

Foreign-owned businesses commonly need coordinated advice covering Indian corporate tax, GST, withholding tax, international taxation and transfer pricing.

Corporate Income Tax and Withholding Tax

An Indian subsidiary is generally taxed in India as an Indian company under the applicable provisions of the Income-tax Act, 2025, effective from 1 April 2026.

The applicable effective tax rate depends on the company’s facts, available tax regime, incentives and business activities.

Payments such as salary, professional fees, rent, interest, royalty and cross-border service charges may also carry withholding obligations.

For cross-border tax matters, see our International Tax Advisory Services.

GST and Indirect Tax

GST registration and compliance depend on the nature and scale of supplies, location, turnover and other applicable provisions.

Businesses should review GST implications for:

• domestic sales;
• imports;
• exports;
• inter-state supplies;
• services received from overseas parties;
• reverse-charge transactions; and
• input tax credit.

GST should also be considered while designing customer contracts and inter-company arrangements.

Transfer Pricing, Inter-Company Charges and Repatriation

Transactions between an Indian company and its foreign parent or other associated enterprises may be subject to Indian transfer pricing requirements.

Common transactions include:

• management fees;
• technical services;
• software or licence charges;
• cost reimbursements;
• inter-company services;
• loans;
• royalties; and
• purchase or sale of goods.

Such transactions should be structured and documented on an arm’s-length basis.

Our Transfer Pricing Advisory Services include benchmarking, documentation, Form 3CEB support and advisory for multinational groups.

First 90 Days After Company Incorporation

Obtaining the Certificate of Incorporation is only the beginning. The first 90 days are important for establishing a compliant operating framework.

Corporate and Statutory Records

The new company should complete applicable initial corporate actions relating to:

• Board meetings and resolutions;
• share certificates;
• statutory registers;
• registered office;
• auditor appointment;
• commencement-related filings, where applicable; and
• maintenance of corporate records.

Accounting, Tax, Payroll and Operating Compliance

Before regular transactions begin, management should establish:

• accounting system;
• chart of accounts;
• invoicing process;
• GST process;
• withholding-tax controls;
• payroll;
• employee documentation;
• expense approval process;
• bank approval controls; and
• monthly financial reporting.

Foreign-owned subsidiaries can use our Accounting and Bookkeeping Services in India for ongoing finance and reporting support.

FEMA and Annual Compliance Calendar

The company should maintain a calendar covering applicable:

• ROC filings;
• income-tax filings;
• GST returns;
• TDS/withholding tax;
• transfer pricing;
• statutory audit;
• FEMA reporting;
• FLA reporting;
• payroll compliance; and
• other sector-specific obligations.

Creating the compliance framework at the outset is significantly easier than correcting missed filings later.

Common Mistakes Foreign Companies Make While Setting Up in India

Many delays occur not because incorporation is difficult, but because banking, foreign investment, documentation and post-incorporation requirements were not considered during the planning stage.

Choosing the Structure Only on the Basis of Incorporation Cost

The cheapest or quickest structure is not necessarily the best long-term structure.

The decision should consider revenue generation, ownership control, taxation, employee hiring, capital requirements, repatriation and future expansion.

Changing an unsuitable structure later can be considerably more expensive than proper planning at the beginning.

Remitting Funds Before Finalising the FEMA Process

Foreign capital should not be remitted casually.

The company should first understand the permitted investment structure, bank documentation, valuation/pricing requirements, share-allotment process and RBI reporting obligations.

Underestimating Bank KYC and Post-Incorporation Work

Foreign investors sometimes assume that incorporation means the company is immediately ready to trade.

In reality, banking KYC, funding, GST, accounting, payroll, contracts, transfer pricing and corporate compliance may still need to be completed.

Planning these activities in parallel can materially shorten the time to operational readiness.

Why Choose EzyBiz for Business Setup Services in India?

Foreign companies entering India typically need support across several connected areas rather than a standalone incorporation filing.

EzyBiz India combines India-entry advisory, company incorporation, taxation, FDI/FEMA, accounting and ongoing regulatory compliance within one coordinated engagement.

CA-Led and Cross-Border Advisory

Our India-entry engagements are led by professionals experienced in:

• business structuring;
• taxation;
• FEMA;
• foreign investment;
• transfer pricing;
• corporate compliance; and
• cross-border business matters.

This helps identify tax and regulatory issues before they become post-incorporation problems.

Implementation and Ongoing Support Under One Team

Our role can continue after incorporation through:

• bank account assistance;
• FDI/FEMA reporting;
• GST;
• accounting;
• payroll;
• transfer pricing;
• taxation;
• ROC compliance; and
• management reporting.

This allows overseas management to coordinate its India setup with one professional team rather than multiple disconnected service providers.

Representative India Business Setup Situations

The exact implementation path differs significantly between an overseas group establishing a conventional trading company and a multinational establishing a captive services or technology operation.

The following situations illustrate the type of planning required.

Overseas-Owned Operating Subsidiary

A foreign shareholder planning a new India operation may require assistance with:

• foreign ownership structuring;
• resident director arrangements;
• foreign shareholder documentation;
• registered office;
• incorporation;
• corporate bank account;
• initial capital remittance;
• share allotment;
• FEMA reporting; and
• GST and operating compliance.

The key practical issue is sequencing these tasks so that the company becomes operational without creating a foreign-investment or banking compliance gap.

Captive Services, Technology or GCC Structure

A multinational establishing an Indian captive operation may additionally require:

• Indian subsidiary setup;
• employee hiring;
• inter-company service agreement;
• cost-plus pricing;
• transfer pricing benchmarking;
• overseas group reporting;
• intellectual-property considerations; and
• ongoing accounting and payroll.

Businesses planning technology, finance, analytics, engineering or shared-service operations can also review our Global Capability Centre Setup in India service.

Country-Specific India Entry Guidance

Although India’s basic company-law and foreign-investment framework applies generally, investor-country considerations can materially affect documentation, approval route, banking KYC and practical implementation.

India Entry Planning by Investor Country

Foreign investors can review our India Market Entry Services by Country together with the following country-specific resources:

• India Market Entry Services for US Companies
• India Market Entry Services for Chinese Companies
• India Market Entry Services for Taiwanese Companies
• Company Registration in India for Japanese Companies

Country-specific advice is especially important where additional investment approval, legalisation, ownership or banking requirements apply.

Frequently Asked Questions About Business Setup in India

Below are answers to common questions foreign companies ask before setting up operations in India.

Can a Foreign Company Own 100% of an Indian Company?

Yes. Foreign ownership of up to 100% is permitted in many sectors, subject to India’s prevailing FDI policy, entry route, investor profile and sector-specific conditions.

Where 100% foreign investment is available under the Automatic Route, prior Government approval may generally not be required solely because the shareholder is foreign.

However, the proposed activity and ultimate ownership should always be reviewed before investment.

Which Business Structure Is Best for a Foreign Company in India?

For businesses planning long-term commercial operations, an Indian private limited company or Wholly Owned Subsidiary is frequently considered because it provides a separate legal entity and greater operational flexibility.

A Joint Venture may be preferable where a strong Indian partner is commercially valuable. Branch, Liaison and Project Offices are more specialised structures with different activity restrictions.

How long does business setup in India take?

A straightforward foreign-owned Indian company may often be incorporated in approximately 2–4 weeks after complete legalised documents are available. Banking, capital infusion, GST and operational registrations can extend the overall implementation period.

Is there a minimum capital requirement for an Indian private limited company?

There is no general statutory minimum paid-up capital applicable to every private limited company. However, the appropriate initial capital should reflect operational requirements, and sector-specific conditions may apply.

Does a foreign company need an Indian shareholder?

Not necessarily. Up to 100% foreign ownership is permitted in many sectors, subject to the prevailing FDI framework.

A private company does, however, require the prescribed minimum number of members, which should be structured correctly where the foreign parent intends to retain complete beneficial ownership.

Does a foreign-owned company require an Indian resident director?

An Indian company must satisfy the resident-director requirements prescribed under the Companies Act.

Foreign nationals may also act as directors subject to applicable identification, documentation and legal requirements.

Does a foreign company need a physical office before incorporation?

An Indian company must maintain a registered office in India in accordance with the Companies Act.

The appropriate office arrangement depends on the proposed operations, banking requirements, GST registration and commercial needs.

Is RBI approval required for every foreign-owned company?

No. Foreign investment in many sectors is permitted under the Automatic Route subject to the applicable conditions.

However, certain sectors, investor profiles or transactions may require prior Government or regulatory approval.

Is FC-GPR required after foreign investment?

Where an Indian company issues applicable equity instruments to a non-resident investor, the transaction is subject to applicable FEMA/RBI reporting requirements.

The reporting obligation should be reviewed based on the nature of investment and instrument issued.

Does a foreign-owned company require GST registration?

GST registration depends on the nature of supplies, turnover, location, business model and applicable GST provisions.

Foreign ownership by itself does not determine GST registration liability.

Can an Indian subsidiary hire employees?

Yes. An Indian subsidiary can employ personnel in India subject to applicable employment, payroll, tax, social-security and labour-law requirements.

Can profits be repatriated to the foreign parent?

Profits may be repatriated through legally permissible mechanisms such as dividends, subject to applicable corporate, tax, withholding, FEMA and banking requirements.

Other cross-border payments such as service fees, royalties or interest should also be supported by appropriate agreements and tax/transfer-pricing analysis.

Official Regulatory Sources and Related India Entry Services

Foreign investors should refer to current Government and regulatory sources because FDI, FEMA, company-law and tax requirements can change over time.

Official Regulatory Sources

For current statutory and regulatory information, refer to:

• Ministry of Corporate Affairs – MCA — company incorporation and Companies Act filings
• Reserve Bank of India – RBI — FEMA, foreign investment and banking regulations
• Department for Promotion of Industry and Internal Trade – DPIIT — FDI policy and investment framework
• GST Portal — GST registration and compliance
• Income Tax Department — Income-tax Act, 2025, taxation and compliance

Related India Entry Services

• India Market Entry Consulting
• Foreign Company Registration in India
• Wholly Owned Subsidiary in India
• Branch Office in India
• Liaison Office in India
• Project Office in India
• FDI and FEMA Compliance in India
• International Tax Advisory
• Transfer Pricing Advisory
• Global Capability Centre Setup in India
• Accounting and Bookkeeping Services in India

Reviewed By and Disclaimer

Reviewed By

Anil Agrawal, Chartered Accountant
Founder, EzyBiz India Consulting LLP, New Delhi

Anil Agrawal is a Chartered Accountant with more than 20 years of professional experience in taxation, India market entry, business setup, FEMA, international taxation, transfer pricing and regulatory advisory matters.

Last Updated: September 2026
Regulatory Position Reviewed: September 2026

Disclaimer

The information provided on this page is for general informational and educational purposes only and should not be treated as legal, tax, investment or regulatory advice.

The requirements for establishing and operating a business in India may vary depending on the proposed activities, sector, investor nationality and beneficial ownership, business structure, source of investment, location and applicable laws and regulations.

Foreign investors should obtain professional advice based on their specific facts before incorporating an entity, transferring funds, issuing shares, entering contracts or commencing operations in India.