Foreign nationals Company registration requirement on PAN Card
Company registration in India is simple to be implemented with the help of
Corproots Consultants in Coimbatore. While starting a business the owner should have the basic knowledge regarding the business registration followed by Companies Act of 2013. The legal forms availed by the Indian government for the small to medium sized business is the advantage of people to protect their assets and brand name. The private limited company registration is the most commonly used legal form in India by maximum business sectors.
In India the business enterprises can be led by Indian as well as the foreign nationals which helps our economic growth. Procedures for the company registration is same for both nationals with variation on the documents required. Let us see the importance of PAN card for the foreign national company registration in India.
Importance of PAN Card for foreign national
PAN Card (Permanent Account Number) is a unique 10 digit number for everyone in India by the Income tax department. For the company registration purpose in India the PAN Card is issued for the Indian and foreign nationals and also for the Indian and foreign entities. Income tax department issues this unique number for tracking the transactions led by any person or entity, TDS/TCS credits, income tax returns/wealth/gift. So simple the use of PAN card is particularly for the identification of financial statements of an individual and of an entity.
What are mandatory about PAN Card?
- There are people and entities in India need to obtain PAN card as mandatory is mentioned as follows:
- Business person or entity should get PAN card for the case of exceed in whole sales turn over to 5 lakhs in any previous year.
- There are some cases in which the business people or enterprises requires PAN card in order to quote financial statements
- People who are required to furnish returns of income on behalf of others must get PAN Card
Foreign citizen’s requirement for PAN card
- Foreign citizen’s to start their business in India need to get PAN card by submitting the following documents
- Identity proof
- Indian origin card from the Indian government
- Overseas citizenship of Indian card by the Indian government
- Can use the copy of passport
- National or citizenship Identification number or Taxpayer Identification number which is attested by “Apostille” or by Indian Embassy
Address Proof
- Passport copy
- Indian origin card from the Indian government
- Overseas citizenship of Indian card by the Indian government
- National or citizenship Identification number or Taxpayer Identification number which is attested by “Apostille” or by Indian Embassy
- Non- Resident external bank statements in India
- Copy of residence certificate in India
- Copy of person’s Bank account statements from the residing country
- Copy of registration certificate issued by the foreign registration office
- Copy of visa
