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15 March 2021 Dear All our company is planning to float a Wholly owned subsidiary in USA. do we need to take special permissions from certain authorities. plz guide me what compliance holding company should take care and share your knowledge. if indeed there is a need who are such authorities?? may be from RBI?? plz guide as per companies Act 1956...
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
15 March 2021 Overseas Investment under Automatic Route

Under the Automatic Route, an Indian Party does not require any prior approval from the Reserve Bank for making overseas direct investments in a Wholly Owned Subsidiary (WOS) abroad. The Indian Party should approach an Authorized Dealer Category – I bank for effecting the remittances towards such investments.
See the link for more information.
https://www.google.com/url?sa=t&source=web&rct=j&url=https://taxguru.in/rbi/setting-subsidiary-outside-india.html%3Famp&ved=2ahUKEwi-mZ3j4rHvAhXEzjgGHc7IDMoQFjABegQIARAG&usg=AOvVaw2uvkotxFQAeP7FNNrJAnVY&cf=1
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