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100% ownership by a foreigner
Is there any prohibition as to incorporation of Company in India by a foreign national,for IT related business of exports? Will it be mandatory to have an Indian director(may be as additional director) in this case?
Replies (1)
There is no prohibition for the incorporation of the company with 100% ownership by a foreigner. But for operational conveniance it is suggested to have an indian director.
The only problem is the foriegn shareholders have to come to india every year for attending the AGM, as you can not have the AGM outside india.
Regards
Tagore
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