Brief Guide for Registration of Foreign Companies in India

by Gulshan Aggarwal Digital Marketer

The government in its initiative of ease of doing business in India has made the process of foreign company registration easy and quick. One needs to know the whole registration process and how it works for saving the time. But before that this must be noticed the ease in the registration process has been provided, so that the Foreign Direct Investments (FDIs) can be raised in India. The foreign company registration and related processes are regulated by the Companies Act, 2013.

The foreign company registration can be done by the individual or entity itself or one can hire a professional firm of Chartered Accountants or Company Secretaries to complete the process. Generally, it takes about 3 to 10 working days to complete the incorporation of a foreign company in India.

A foreign company in India can be registered as a Private Limited Company or subsidiary of a foreign company.

 

Registering a foreign company as a Subsidiary Company through entry routes in India:

Section 2(42) of the Companies Act, 2013 defines a foreign company as a body or organization that has been incorporated outside India that has its place of business either itself or through an agent in the home country. In India, any foreign national or company can be formed with the help of the entry strategy using the following-

1.       In the case of Indian Company-

a.       Wholly-owned Subsidiary Company

b.      Joint Ventures

2.       In the case of a foreign company-

a.       Project Office

b.      Branch Office

c.       Liaison Office

Also read: Taxability of Liaison Office in India

 

Foreign Company Registration:

As stated before a foreign company is regulated and governed by the Companies Act, 2013 that also lays down the registration process and methods to manage the affairs of the company. Through the e-portal of the Ministry of Corporate Affairs (MCA) the foreign company can complete the processes and compliances required. Following is the step by step guide for registering a foreign company in India-

1.       The applicant must apply for availability of name for the company.

2.       Obtaining the Digital Signature Certificate (DSC) for the company.

3.       Filing Form SPICE INC-32 for company registration.

4.       Draft a Memorandum of Association (MOA)

5.       Draft Articles of Association (AOA) for the organization.

6.       Apply for Permanent Account Number (PAN) with the company registration form.

7.       Apply for the TAN for the entity.

8.       Incorporation Certificate to be issued by Registrar of Companies (ROC).

 

Required documents for Foreign Company Registration:

The following documents must be presented during the registration process of the foreign company-

1.       Passport of the applicant duly attested by the Indian embassy

2.       Declaration regarding the no PAN, duly attested by the Indian embassy.

3.       Form INC-9

4.       Address proof of the applicant such as residence card, driving license or any other government-issued address identification

5.       ID Proof

6.       Copy of the utility bills such as Bank Account Statements or telephone bill or electricity bill not older than two months.

7.       Resolution from Board of Directors of the company for making investments in India

KYC documents of the authorized signatory or representative of the foreign company.

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Created on May 6th 2020 01:08. Viewed 374 times.

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