Hi, I am planning to setup a company in London, UK next month and have some questions regarding the same.
Budget: ₹2,000 – ₹3,000 INR
Questions Regarding Setting Up A Company In the United Kingdom
1. Trading in any foreign stock market by an Indian resident is not allowed by RBI but is completely legal in the UK. So, if I set up a trading and investment company in the UK and then transfer the company’s profit in my bank account, then will it be legal as all the trading accounts will be in my UK company’s name.
2. It is legal by the UK Law for a non-resident to open a company there but is it legal by the Indian Law for a citizen to open a foreign company or UK Company?
3. Do I have to disclose my company's personal information such as work type, sector, revenue profits, employee info, etc. to any Indian Authorities?
4. How can I transfer my company's profit to my personal bank account in India? What do I have to show to the Income Tax Department of India about the money received from the company’s account to my bank account? How to avoid double taxation?
5. Suppose my company is all set up and has a UK Corporate bank account then, how do I initially fund the company? Do I have to directly transfer money from my personal bank account to the company's bank account and if so, then what do I have to disclose to the Indian Authorities?
6. There are many online sites that setups companies in the UK for non-residents. Is it reliable to go with them?
1. Trading in any foreign stock market by an Indian resident is not allowed by RBI but is completely legal in the UK. So, if I set up a trading and investment company in the UK and then transfer the company’s profit in my bank account, then will it be legal as all the trading accounts will be in my UK company’s name.
2. It is legal by the UK Law for a non-resident to open a company there but is it legal by the Indian Law for a citizen to open a foreign company or UK Company?
3. Do I have to disclose my company's personal information such as work type, sector, revenue profits, employee info, etc. to any Indian Authorities?
4. How can I transfer my company's profit to my personal bank account in India? What do I have to show to the Income Tax Department of India about the money received from the company’s account to my bank account? How to avoid double taxation?
5. Suppose my company is all set up and has a UK Corporate bank account then, how do I initially fund the company? Do I have to directly transfer money from my personal bank account to the company's bank account and if so, then what do I have to disclose to the Indian Authorities?
6. There are many online sites that setups companies in the UK for non-residents. Is it reliable to go with them?