In this Editorial the author shall deliberate the Provisions of Companies Act, 2013 as on 20th May 2020 in respect of Incorporation of a Subsidiary of a Company Incorporated Outside India or Wholly Owned Subsidiary (WOS) of a Company incorporated outside India. The author shall discuss the following (i) Provisions of the Act (ii) Step Wise Process of Incorporation of Company (iii) FAQ’s on Incorporation of Company. (iv) clarity on Notary or Apostil of Documents. This Editorial includes the 'SPICE+'.
Whenever anyone incorporates a Company in India as 'Subsidiary' or 'Wholly-owned Subsidiary (WOS)' of a Company incorporated outside India, many questions came into notice like:
(i) What are the information/ Documents required from foreign Company?
(ii) Whether presence of the authorized representative of a foreign Company is mandatory in India at the time of signing of documents.
(iii) What are the provisions in respect of Notary / Apostil etc.
(iv) Which ID Proofs / Identity proof of foreign subscribers required by the Company etc.
Many more questions came into thoughts while incorporation of subsidiary of foreign subsidiary. In this editorial author shall try to clarify all such doubts / queries in practical approach.
PROCESS OF INCORPORATION
STEP I: Apply for Name Approval
Before application for name approval, foreign Company has to choose the name on basis of the following:
a) In case of Subsidiary or WOS, foreign Company can use coin word of its name as coin word for Incorporation of Company in India to take the Benefit of Its goodwill in foreign County.
b) 1Foreign Company can apply the same name (name in foreign country) in India by using word 'India' in its name.
c) If foreign Company having any registered Trade Mark then it can use such trademark for Incorporation of Company in India.
d) Any other name as decided by the Foreign Company.
i. While selecting the name thought came into mind what are the documents/ information required for application of Name by foreign Company?
In case of Foreign Company using Its 'Coin' word or 'Trademark' following Documents / information required:
• NOC and resolution from the Foreign Company to use the 'Coin’ word or 'Trademark' in the form of Resolution.
• Apostilled copy of Charter of Foreign Company (translated in English language).
• Such resolution/ NOC shall be apostille in foreign Country.
• In case of use of Trademark - copy of trademark registration documents.
To read more in details, find the enclosed attachment
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