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Yes, an OCI cardholder can start a business in India or set up a business in India. But he should have a valid OCI card with a foreign passport to do so, and he can buy new shares of the existing business or open a Private limited, limited liability partnership business.
I am also an OCI cardholder and have a successful business of my own in India. I did everything online and the registration process took only 10 days.
Can someone tell me what documents you need to start a business, please??
Documents needed for an OCI cardholder to start a business in India
Common for any business type
OCI card (copy)
Foreign passport (copy)
PAN card (required)
Indian address proof (rental agreement/utility bill/owner NOC)
Passport-size photo
If forming a Private Limited Company
PAN
OCI + passport
DSC (digital signature)
DIN (director number)
Registered office proof (utility bill + NOC)
If forming an LLP
PAN
OCI + passport
DSC
LLP agreement
Registered office proof
If forming a Proprietorship (easiest)
PAN
Indian address proof
Bank account
GST (if applicable)
OCI cardholder is allowed to be a sole proprietor, a partner in a business, or open a company of their own in India. The process of it is quick. Also, they do not need to visit the country to start their business venture.
Yes, being an OCI cardholder you can start your own business in India and register your foreign company in the country online without being physically present there. I also did the same thing while staying in the US.
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Yes, an OCI cardholder can start a company in India, which includes a DIN (direct identification Number), which provides identity and address proofs, shareholders, A resident director, who can manage all the dealings in India, and NRIs. OCI and foreign nationals are allowed to hold 100% equity in their business and have full control over it.