Wholly owned subsidiary of Foreign Company

2233 views
User Avatar

Finance
229 Points Posted on 12 January 2010

 Hello Everyone

Sorry for my query is not exclusively specific

A company ( reg in India )which is a wholly owned sub of a foreign company , can it go purely as other companies ( not sub of foreign cos ) except the requirement in respect of RBI . I think its all that the Company is registered in India and the extra application comes is in respect of RBI requirements apllies.

Please tell me  where does the major difference lies , if any ,between a wholly owned sub of a foreign co and a co with no foreign connections??

Regards

Reply Share Follow Topic
On 12 January 2010 at 11:08 Report
Replies (3)
User Avatar

Company Secretary in Practice
190 Points Posted on 12 January 2010

Dear Neeta,

 

except RBI compliances for inward remittances information and annual return(FC-GPR) there is no difference in indian and  WOS of foreign company since your company not come under sec. 4(7) of co. act, 1956.

Reply
On 12 January 2010 at 13:03
User Avatar

Company Secretary & CA(Final)
78 Points Posted on 12 January 2010

 

Dear Neeta,


 

Your opinion is correct to the extent of additional compliances with RBI for Indian WOS of F'Co. But indirectly many areas are restricted compared to Indian WOS of I'Co few are

1.Restrictions on Downturn Investments by Indian WOS of F'Co.

2.Restrictions on Area of Business/Objects of Business.

3.FIPB permission

regards,,,,

Reply
On 12 January 2010 at 13:04
User Avatar

Finance
229 Points Posted on 12 January 2010

 

Thank you for the replies .

Reply
On 12 January 2010 at 16:35

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. How Do CA Firms Manage Client Document Collection
  2. How do CA firms manage pending client documents du
  3. How to find a good CA
  4. Rcm on rent paid
  5. Clarify on GST Application
  6. Residential status for overseas students visitin
  7. Capital Gains Tax
  8. LTCG 112A and business loss
  9. FAST-DS 2026 applicability: foreign employee share
  10. NRI Property Sale in India: TDS Rates and Key Comp

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details