Foreigner as a director and shareholder

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Abhay

Student

90 Points Joined September 2011

Dear experts, Can a foreign citizen (person of indian origin) can be a director in a private limited company in india? If yes can he hold 99% of shares in the same company as per companies act, 2013? Any other restrictions by any other law for specific business activities like FFMC (Authorised money changer), Banking etc ? Any restrictions by RBI /FEMA??

Replies (1)

Pratik Shah

Practising Company Secretary

4432 Points Joined October 2014

Yes, a person resideing outside India can be a director and be a shareholder of 99% of shares of such Company. However, there has to be atleast one directror who should resident in India.