foreign company branch to be incorporated in india

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V.C SaiRam

Student CA Final

91 Points Joined March 2013

1) How to set up a company in India, 100% owned by a Hong Kong company, the procedure, time and cost requirement;

2) To my understanding, such new company requires an Indian resident as one of its director. Is this correct and can you introduce some to act as this post?

3) How to set up a bank account in India, for fund transfer in India and with overseas area, the procedure, time and cost requirement;

4) Any capital injection requirement and restriction for fund injected into India from Hong Kong;

5) Any dividend distribution requirement and restriction for fund sending back to Hong Kong;

6) Any legal requirement, license, etc to set up a packaging box factory in New Delhi;

7) We need to import some production machine to New Delhi, what is the requirement, procedure and restriction on this;

9) Any restriction or requirement for a foreigner to work in India;

10) Can we employ local workers in India, what is the procedure;

11) Any restriction to export the production machines from India, if we cease the business in India;

12) How to import paper and other materials to India, any restriction and requirement;

13) What are the financial reporting requirements of this company;

14) What are the tax, stamp duty, import duty and government charge of this company and factory

Replies (3)

Siddharth Mehta

36 Points Joined April 2016

Information/ Documents required from foreign Company

a) Apostille / Notarized copy of resolution of foreign Company ‘mentioning the name of authorized representative, no. of subscripttion of shares’.

b) Apostille/ Notarized copy of ID Proof of authorized representative, if such person is non – resident of India.

c) Apostille/ Notarized copy of Charter of Foreign Company.

d) Name of one Resident Director.

e) Name of Nominee (in case of incorporation of WOS)

1. Few forms, Time as per name availability, cost 25-50k

2. Yes 1 resident indian

3. Certificate of incorporation will act as a evidence for opening banks current account.

4. 1L as auth cap initially.

POST INCORPORATION

Step –I: Open Bank Account to receive Subscripttion Money.

Step –II: Receipt of Subscripttion Money from Foreign Subscriber.

Step -III: Collect FIRC Certificate from the Bank

Step IV: Issue Share Certificate to the subscribers.

Step V: File FCGPR with RBI

5. Not for small cos

6. Noc from Owner of registered premises of office,Gst registration for specified turnover

8. Business visa etc.
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for rest , u can mail or contact me..