Dear Professional colleagues,
One of my client had incorporated a Company in Pune few years ago and now the Management has decided to incorporate a Wholly Owned Subsidiary in South Africa.
Can you please tell me the procedure to incorporate the same.
Thanking you in Advance.
Best Regards,
Abhishek Kadam
Abhishek,
Your Company is not required to do anything in India except giveing authorization to invest and sign the incorporation documents by way of board resolution.
But need to follow south African law to incorporate wholly owned subsidiary in that country.
Dear Prakash Sir,
Do we require to intimate RBI for foreign investment made. Also do we require prior permission of FIPB and also do we need to file MGT-14 eform to RoC.
Regards
Abhishek
Dear Abhishek,
Yes, Your Company needs to intimate but it is after completion of incorporation process in South Africa, while sending investent amount, which your company need to intimate RBI. which is second step.
Thank you sir.
CAclubindia
