Opening of wholly owned subsidiary by an indian co. abroad

Save Share

This query is : Resolved

anju (Querist)
Follow

16 February 2013 Sir,
Please tell me the Provision & Procedure of setting up a Wholly owned subsidiary by an Indian company in Myanmar (Burma).
The company deals in veneers a form of plywood. The company is a private company.

Ajay Mishra

Ajay Mishra (Expert)
Follow

17 February 2013 Hi

I will suggest you to Pass 2 and 3 Board Resolution for this:

1. Open an WOS out side India
2. Investment out of India
3. Opening of Bank A/c out of India
4. Authorisation to some one who deal overseas

Please also read ODI (Overseas Direct Investment) Guidelines, Issued by RBI for the same.

anju

anju (Querist)
Follow

18 February 2013 Thank u Sir,
whether RBI permission is required.

Ajay Mishra

Ajay Mishra (Expert)
Follow

18 February 2013 Yes, it will be required to take approval by submitting ODI Form with RBI.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now