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Yes, OCI cardholders can start their business setup in India. The most popular business picked by the OCI cardholders is Limited Liability, partnerships, and limited companies. As per the guidelines of FEMA (Foreign Exchange Management Act), FDI (Foreign Direct Investment) is not permitted to any other class of business, like a one-person company or, partnership firm.
If an OCI cardholder wants to start his own company, then the company requires 2 directors for their companies because one should be an Indian to manage all the activities and have an Indian citizenship. The company address should also be in India, and if an Indian resident has stayed for more than 182 days in Indian, then they should not need a 2nd director.
I am the owner of my company as an OCI cardholder, and it is a very easy process to open your business in India. For this, you will need to have an open bank account with a PAN card in India. By owning a company, here are the persons who can start a new company registered in India easily the foreign nationals, Non-resident Indian, Person of Indian Origin, and Overseas citizen of India.
Yes, as an OCI cardholder, you can start your business in India with a private limited company or any Indian company based on commercial products. OCI cardholders need to hold at least 2 shares of the company and have at least 2 directors for the company, and have a valid registered office address in India.
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Here are the documents required for an OCI cardholder to open or start a business in India. Attested passport by the Indian embassy or the foreign public notary, driving license, bank statement, electricity bills, property tax payments receipts, passport size latest photo, your employment details, email, mobile number, and education classification.
Yes, an OCI cardholder can easily start a business in Indian, but needs to have two directors to manage all the legal work when the OCI cardholder is not in India.