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Contact us today to know more about setting up a new business. Choose from the types of company to know the process, benefits, and documentation requirements.
Registration For Foreign Companies
Registration with RBI & ROC
Globalization efforts in India and the Make in India initiative has set the floor for foreign investments in India. Foreign Companies can now register their business in India adhering to certain rules and guidelines as per The Companies Act, 2013 and RBI Guidelines.
According to Section 2 (42) of the Companies Act 2013:
- A Foreign Company is any company or body corporate incorporated outside India, and
- Has a place of business in India whether by itself or through an agent, physically or through electronic mode
- Conducts any business activity in India in any other manner.
A Foreign Company can set up in India as:
- A Wholly Owned or as a Joint Venture
- A Liaison Office, Project Office, Branch Office of the Foreign Company
Wholly Owned Subsidiary Company
If 100% investment is made by the foreign company, the Indian company becomes a Wholly Owned Subsidiary.
- Office address proof; if the Office is rented, the latest electricity bill can be produced
- For Indian citizens
- PAN card
- Address proof
- Photograph ID proof like passport, Aadhar card or driving license.
- For foreign national
- Passport mandatory
- Address Proof
- Photograph ID Proof
- All documents to be certified by the Indian Consular or consulate
- Minimum 2 shareholders, directors
- DIN and DSC for all directors
- Name of the company must be filed in Form INC-1
- MOA, AOA and then a subscription to MOA by shareholder and authorized persons
- Once the Registrar of Company approves the application, Form INC-7 (Application for Incorporation of Company), Form DIR-12 (Details on Directors’ appointment, top management, and changes therein) and Form INC-22 (Notice of location or change of address of the Registered Office of the company) must be filed along with MOA and AOA
- ROC fees must be paid online along with stamp duty based on the authorized capital of the Company
- The registrar verifies all the documents and Form INC-22 and DIR-12 are approved and INC-7 is verified.
- Certificate of incorporation is provided
Our customer relationship team has access to the officials in the relevant department to get the company registered. The team will help prepare the required documentation and then file the application with ROC.
Two or more parties agree to do business or commercial objects in a cooperative model. This venture can be a Company, LLP, or Partnership, in a long-term or short-term models. Joint venture can also be registered as a new business entity or merged with an existing established business.
Suppose, a Foreign National or NRI wishes to join as partner, Government approval is required either from the RBI or FIPB. RBI approval is a straightforward process; however, FIPB approval is needed as well.
A Memorandum of Understanding or a Letter of Intent, which describes the purpose of the joint venture must be signed. All terms and conditions complying with the regional and international laws must be discussed and finalized. Critical areas such as dispute resolution agreements, applicable laws, shares and transfer of shares, Board of Directors Non-Compete, confidentiality statements and so on.
Setting up a Liaison Office
A Foreign Company can open a Liaison Office in India with Reserve Bank of India (RBI) permission. It must be registered with ROC and the State Police. Our customer relationship experts have access to the departments and get the process completed effortlessly.
- The Foreign company must have a proven track record of $ 50,000 in a span of 3-years.
- A subsidiary company that does not comply with the above condition can submit a Letter of Comfort from its parent company who complies with the condition.
- This office does not earn income, and all operations must be borne by the parent company.
- The name should be the same as the foreign company. Every Liaison Office must be approved by the RBI under FEMA 1999 and the Insurance Regulatory and Development Authority (IRDA).
- The Foreign Company files the application with RBI through a designated Authorized Dealer Category-1 – Bank.
- All required documents, audited balance sheet of the applicant, Certificate of Incorporation (English version), MOA & AOA attested by the Embassy/Notary Public from the Country of Registration.
- If the transaction made in India is used for commercial purposes, income tax might be enforced by the IT department.
- A Unique Identification Number is given by RBI. A PAN must be registered while setting up office in India.
A Liaison Office can execute the following businesses in India:
- Represent the Parent Company
- Promote import/export
- Promote technical/financial collaborations in place of the Parent Company
- Coordinate between the Parent Company and the Indian Entity
- The office cannot execute any business activity and cannot earn any income in India.
Call us or chat with us to understand the process and register your office without much hassles.
Project Office in India by Foreign Companies
RBI grants permission for registering an offshore center by foreign companies in India. A written agreement on the project execution must be signed by the foreign company, the Indian government or private party.
- A formal contract of the project execution
- Clearance from local authorities
- Foreign funding for company operations
- Local business loans from public sector financial institutions
What are you waiting for? Get your offshore facility registered. Our team of experts are ready to help get incorporated and up running.
Setting up a Branch Office in India by a Foreign Company
A Foreign company can execute business in India operating through a branch office with the prior approval taken from RBI.
- The company is involved in manufacturing or trading activities.
- Should have had made profit in the immediate past five financial years with a net worth of not less than USD 100,000 in its home country.
- A Subsidiary Company that does not comply with the above can submit a Letter of Comfort from the parent company if that company complies with the above condition.
A Branch Office can execute the following businesses:
- Import & Export of goods
- Professional or consultancy services
- Research work
- Technical/financial collaborations on behalf of the parent
- Act as a buying/selling agent in India
- IT services and developing software in India
- Technical support
- Foreign Airline/ Shipping Company