Our Company is planning to set-up a wholly owned subsidiary in Australia, New Zealand, Singapore etc. This is totally a new task for me.
Please guide me on the following queries,
1) Whether the RBI Approval is required? 2) What will be the requirements as per the Companies Act 3) Whether the provisions of Section 379 of the Companies act 2013 will be applicable to such wholly owned subsidiary 4) What will be the exact procedure for initiating this incorporation
15 February 2017
1) Under Automatic route approach Authorized dealers category 1 bank with form ODI. 2) Object clause provide such investments. 3) Provisions of section 379 applicable. 4) Follow the rules of incorporation of that country and obtain approvals from the parent company.
CAclubindia
