What is a Foreign Company?
In India, there are many kind of companies like private company, public company, government company, corporate or government owned that operate in country. Every country has followed some specific rule and regulations to grown company. similarly, India has some special and modified provision to followed by foreign companies. Likewise , a foreign company is making investment in India or setting up an office is required to complied with the Foreign Exchange Management Act (FEMA) or if foreign companies involved in selling goods and providing services then the company required to comply with Indian taxes laws.
Basically, Foreign company registration is regulate in India by company Act 2013 alongside Companies (Registration of Foreign Companies) Rules, 2014. Sec 2 (42) of the Companies Act 2013. For instance, foreign company is an entity which is incorporated outside India, but place business or conduct business activity in any other manner.
Registration of Foreign Companies
The specifics relating with the director and the Secretary to be provided to the Registrar by the foreign companies:
To get established its place of business in India within 30days, to submit the following list to the registrar of companies:
- Full list along with kyc proof of Directors (Foreign Residency Company)
- Full list along with kyc proof of Secretary of such company (Foreign Residency Company ) ,
- File form Form FC-1 with 30 thirty days,make the payment of fees provided in Companies (Registration Offices and Fees) Rules, 2014
- An attested approval copy from RBI (Reserve Bank of India) under Foreign Exchange Management Act or Regulations
- To establish a place of business in India approval is required by such foreign company or a declaration from the authorized representative of such foreign company that no such approval is required.
Change in case of documents or subsequent amendments or change in directors or secretaries then a return in Form FC2 along with the fee as provided in the Companies (2014 containing Rules, the particulars of the alteration, within a period of 30 Days thirty days from the date on which the alteration was made or occurred.