What are the additional requirements to incorporate a 100% subsidiary of a foreign Company?

Apart from the requirement of a private limited company followings are the additional requirement to incorporate a 100% subsidiary of a foreign company in India:

 

a)      A resolution of foreign holding company to the effect that the Indian company shall be a wholly owned subsidiary company of the foreign company.

b)      Since there have to be two subscribers in the company, any other person shall hold some shares as nominee of the foreign company.

c)      The person who will write the particulars of the foreign company in MOA and second subscriber must be two different people.

d)      The resolution must be notarized and also attested by the Indian Embassy consulate.

e)      The power o attorney to authorize any person to make the necessary correction in MOA and AOA should be attested by the notary and consulate by the Indian Embassy and adjudicated in India.

  • Altaf Husain

    A private limited company which is 100% subsidiary of foreign company. Whether in India we’ll treat this Private company as a foreign compnay or domestic company for the ROC compliance purpose.whether sec 591 to 602 of Companies Act,1956 Shall Apply or rest of Companies Act,1956 shall apply?
    is this private com would be place of business of foreign company as defined in sec-591 of Companies Act,1956,if yes than can be treat is as foreign company?