Can a foreigner become director in indian company??

This query is : Resolved

Veda R (Querist)
Follow

22 March 2012 Can a foreigner become director in Indian company & how??
What are the forms to be filed, RBI procedures, Foreign investment promotion board procedures, for a company with basic object as est. Italian food chain restaurants serving food & beverages in India..

Ajay Mishra

Ajay Mishra (Expert)
Follow

22 March 2012 Hi

Yes a foreigner becomes a director.

DCA Circular dated 16-2-1995 clarifies that there can not be any restriction for incorporation of a company whether all the subscriber to the MOA/AOA/ proposed directors are residing abroad, being either foreign nationals, or NRI subject to the approval of RBI, where necessary.

Please take a DIN of foreign director and appoint the same.

Regards

Message likes : 3 times