Benefit of Starting a Business in India by a Foreign Nation NRI

Benefit of Starting a Business in India by a Foreign Nation NRI

Non-resident Indians (NRI) are major contributors to the economy. They bring along skill, technology and a global perspective to the ventures they start.

The government of India has been making several administrative changes and offering incentives to boost the investments by NRIs in the country. This has resulted in a consistent rise in FDI in the country over the last 5 years.

One of the biggest advantages that NRIs get by setting up their businesses in India is that it has a huge working population with low costs of operation. The country also has a comprehensive tax system with access to developed markets around the world and is well-established in terms of international trade. Moreover, the work ethics and commitment of the Indians are a big draw for the foreign entrepreneurs.

In the past, registering a company in India was quite difficult for NRIs because of multiple red tape and documentation requirements. However, now, the process is much simpler and quicker as the government has made significant improvements in simplifying the requirements. For instance, the SPICe form (Simplified Proforma for Incorporating Company Electronically) is now available to make the process easier for the NRIs.

Another advantage that NRIs get by establishing their businesses in India is the fact that it has a consistently growing economy that promises to be a magnet for foreign companies for decades to come. NRIs can set up a private limited or a limited liability partnership in India, but it is best to consult an expert to determine which type of entity is the most appropriate for the business Register in MCA. The young population and the country's emergence as a powerful economic force will also be a major driving factor for global investors to look at the India market for their expansion plans.

 

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