Indian Citizens, who are holding Indian Passport, immigrated to any other country for six months or more are known as “Non Resident Indian”.
The Government of India on various times encourages investment in Indian soil from NRIs. This has created great deal of opportunities for NRIs in India. Private Limited Companies are the most popular model for business in India due to its ease of registration and other legal requirements.
A Private limited company can be started with minimum of 2 shareholders and with a maximum limit of 200 shareholders. Although NRIs can be director in a Private Limited Company with or without investment in company but at least one of the directors of the company need to be a resident in India to form a company.
Where a NRI becomes a director in a Private Limited Company in India, his/her ID proof and address proof must be apostilled by Consulate of Indian Embassy or attested by Foreign Public Notary depending upon whether country is the member of Hague convention or not.
Please make note that if the person belongs to country which is not the member of Hague convention then all the KYC documents need to be apostilled by Consulate of Indian Embassy. If the person belongs to the country which is the member of Hague convention then all the KYC documents can be provided after attestation by Foreign Public Notary.
