Urgent query

This query is : Resolved

sweta (Querist)
Follow

15 July 2013 Dear All,

An Indian private limited company having its branch office in Dubai.

The Indian company wants to convert its Dubai branch into separate company. In short it shall no longer be branch office of the Indian company. Instead it shall become a complete legal entity i.e group company.

Please advise what provisions are applicable as per companies act and RBI

Thanks & Regards,

Sweta Lath
9833189497

Ajay Mishra

Ajay Mishra (Expert)
Follow

15 July 2013 Hi

First of all check Law of Dubai for discontinue of branch.

Pass Board Resolution for discontinue of branch in Dubai.

You read ODI Guidelines for making investment outside for making subsidiary out side India.

Ajay Mishra

Ajay Mishra (Expert)
Follow

15 July 2013 For Incorporation of company in Dubai, go to the following link:

https://www.healyconsultants.com/company-incorporation/dubai-company-formation.html

sweta

sweta (Querist)
Follow

15 July 2013 Dear Sir,

Thank You for the reply. But will this transaction amount to demerger of unit of Parent Company.

Thanks & Regards,

Sweta Lath
9833189497

Ajay Mishra

Ajay Mishra (Expert)
Follow

15 July 2013 No Need to demerge. You firstly desolve the branch and there after open a company.

sweta

sweta (Querist)
Follow

15 July 2013 Dear Sir,

So if we disolve the branch office, what shall be its existence in Dubai?

Over here we intimate RBI that we have closed down the branch office of Dubai but actually will it be operational in Dubai or we have to show complete shut down.

Further, we have a note from our Dubai consultant regarding conversion from Branch to FZE/FZCO.

We want to follow this procedure so how shall we do this? If we are closing down then we cant show conversion?

Pls advice.

Thanks & Regards,

Sweta Lath
9833189497

Ajay Mishra

Ajay Mishra (Expert)
Follow

15 July 2013 Hi

Firstly I want to say I am not more aware of Dubai Law.

So on the conversion/merger provision, I can not says anything.

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