100% subsidiary abroad
This query is : Resolved
18 September 2012
Please provide me the procedure for the formation of 100% Subsidiary abroad by an Indian Private Limited.
19 September 2012
Please refer to Master Circular No. 05/2010-11 dated 1st July, 2010 (section B) which allows investment in wholly-owned subsidiaries upto 400% of the net worth of the company under automatic route. You have to just take the help of an authorised dealer (your banker) and they will do the needful for you; form ODI has to be filled up and necessary certificate obtained from the statutory auditor of the company (this is clearly specified), and additionally the 15CA and 15CB compliance is also required for the remittances.
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