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Incorporation

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 March 2010 Dear Friends

i need advice on formalities to be follwed whed two US citizens are subscribing to shares. who are all has to attest signing sheets of AOA and MOA in USA
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Rasesh

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Rasesh (Expert)
25 March 2010 A foreign citizen can commence operations in India by incorporating a company (as an Indian company) under the Companies Act,1956 through

a) Joint Ventures; or

b) Wholly Owned Subsidiaries

Foreign equity in such Indian companies can be up to 100% depending on the requirements of the investor, subject to equity caps in respect of the area of activities under the Foreign Direct Investment (FDI) policy

I feel from your query that the company is to be incorported as a WOS, in which case the two US Citizens have to obtain a DIN from the mca and then they can apply as subscribers to the MOA/AOA.

As regards attestation is concerned, since the MOA and AOA are signed outside india, the MOA &AOA has to be notorised and endorsed by the Indian consulate Generals office of that country.
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