What are BARE MINIMUM prerequisite for "Setting up a Business in India"??

1. Naming India Business

• Get ready with minimum 2 options of Business Name
• Name must be unique and defining the ‘main objective clearly’
• Get ready with ‘No Objection’ if intend to use the name of Holding Company or any Trade Mark 

2. Business Objective

• Clear defined in appx. two Paragraphs (10-15 lines)
• General & Multi Objective covering different business areas not allowed  

3. Number of Shareholders/Owners

• Minimum 2 shareholders for a Private Limited
• Can be Foreigners, NRIs, OCIs or a Foreign Company (ies)

4. Foreign Ownership

• 100% Foreign Direct Investment, allowed in majority business segments
• Do check if your business required prior approval from reserve bank of India

5. Initial Share Capital

• No minimum requirement
• Do plan for initial capital based on initial expenses, until the business reaches at Break Even Point (BEP)

6. Physical presence of Foreign owners

• Not required for incorporation purpose
• Will be required once in a year to present in AGM

7. Local representative

• Not required for incorporation purpose
• May be a business need to appoint an appropriate person

8. Resident Director

• At least 1 Resident Director is a must
• Any person who have stayed in India for 180 days in previous calendar year

9. Registered Office

• An address in India (not necessarily a commercial place) required
• Option will be there to arrange within 30 days of incorporation

10. Business Plan

• Not required from legal side
• Must prepare a business plan for minimum 3-5 years span (Break Even Point)
• Local Human Resource and Working Capital must be planned well

11. Sales Staff

• Core team must be hired based on Business Needs
• Assistance of local HR Consultants would be helpful to find out right person

12. Administration Staff

• Not required in beginning
• Can be hired as a connect between Sales Team and Local Consultants

13. Local Consultant

• Must be hired for undertaking all Non-Core/Operational Stuff
• Attention to be given toward existing experience of similar nature assignments

14. Annual Compliance

• Audit Report, Financial Statement etc need to be signed in paper before filing
• All compliances required be done online / Local consultants help will be immense

15. Individual Owners Abroad

• Personal appearance required in Annual General Meetings (AGM)
• Failure would result in an invalid AGM, resulting into heavy penalties