COMPANY LAW SERIES CHAPTER 2 (CONTINUE…..)
STEPS FOR THE INCORPORATION OF FOREIGN COMPANY
As per section 2(42), ‘foreign company’ means any company or body corporate incorporated outside India which—
OTHER PROVISIONS RELATED TO FOREIGN COMPANY
1. Every foreign company has to ensure that the name of the company, the country of incorporation, the fact of limited liability of members is exhibited in the specified places or documents as required under Section 382.
2. Section 381 requires a Foreign Company to maintain books of Account and file a copy of balance sheet and profit and loss account in prescribed form with ROC every calendar year. These accounts should be accompanied by list of place of business established by the foreign company in India.
3. Section 376 of the Companies Act, 2013 provides further that when a foreign company, which has been carrying on business in India, ceases to carry on such business in India, it may be wound up as an unregistered company under Sections 375 to 378 of the Act, even though the company has been dissolved or ceased to exist under the laws of the country in which it was
4. Section 379 provides that where not less than 50% of the paid-up share capital, whether equity or preference or partly equity and partly preference of a foreign company is held by one or more citizens of India or by one or more bodies corporate incorporated in India, whether singly or in the aggregate, such company shall comply with such of the provisions of this Act, as may be prescribed by the Central Government with regard to the business carried on by it in India, as if it were a company incorporated in India.
Steps for forming a Private Limited Company Registration (Foreign company registration):
Registering a private limited company requires a support of CA/CS/Lawyer as the legal procedures are involved in it, it’s a complicated process but do not worry our team of experts will take care of these issues
Step1: Apply RUN ( Reserve Unique Name Form ) (Name Availability)
Step2: Obtain DSC and Form SPICE INC-32 (E Form used for Company Registration)
Step3: Drafting of MOA & AOA (Physical Copy is used in Indian subsidiary Registration)
Step4: PAN and TAN Application Along with Form SPICE INC -32 (E Form used for Company Registration)
Step5: After completion of the above-mentioned process of company registration, RoC Issues Certificate of Incorporation
Documents required for Private Limited Foreign Company Registration
NOTE: ALL THE ABOVE MENTIONED DOCUMENTS MUST BE NOTARIZED AND APOSTLE BY INDIAN EMBASSY
DISCLAIMER: THE ARTICLE IS BASED ON THE RELEVANT PROVISIONS AND AS PER THE INFORMATION EXISTING AT THE TIME OF THE PREPARATION.IN NO EVENT I SHALL BE LIABLE FOR ANY DIRECT AND INDIRECT RESULT FROM THIS ARTICLE. THIS IS ONLY A KNOWLEDGE SHARING INITIATIVE.
THE AUTHOR CAN BE REACHED AT VINAYAK.CHARU@GMAIL.COM