Dear Collegues,
I need to incorporate a PLC (Under Automatic Route) with 2 foreign Promoters who will also be the subsribers to MOA.They need to inject Initial Capital of INR 100,000/-.What is the procedure followed in this.When will they transfer funds (i think after incorporation and after opening of bank account). But do we need to intimate RBI for this and how?
I oblige your reply.
Thanks
The amount should be remitted through an Authorised Dealer approved by RBI, who will issue FIRC specifying the purpose of remittance as "Subscriptttion to Shares".
It can be remitted after incorporation of the company.
Check the Limit of FDI under Foreign Direct Investment Policy.
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