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There are no specific restrictions on foreign companies setting up subsidiaries in India, although certain sectors require government approval or specific compliance considerations. Consulting with experts is crucial to determine eligibility and address any potential regulatory hurdles.
• Direct market access: Operate independently in the Indian market, tailor offerings to local needs, and build strong brand presence.
• Enhanced control and flexibility: Manage operations directly, make independent business decisions, and adapt to market conditions quickly.
• Limited liability: Subsidiary’s liabilities are separate from the parent company, minimising financial risks.
• Potential tax benefits: Access specific tax treaties and exemptions available to domestic companies.
Setting up a foreign company subsidiary in India involves several key steps:
a) Name approval:
• Apply for name reservation via SPICE+ Part A form, choosing a distinct and compliant name for the subsidiary.
b) Incorporation:
• Complete SPICE+ Part B form, submitting necessary documents like Memorandum of Association (MoA), Articles of Association (AoA), and declarations.
• Obtain Digital Signature Certificates (DSCs) for directors and file e-forms through the MCA portal.
• Obtain approval from the Ministry of Corporate Affairs (MCA) and register the company.
c) Additional registrations:
• Depending on the industry and activities, obtain licenses or permits from relevant authorities like RBI, FSSAI, etc.
• Register for taxes (GST, Income Tax, etc.) and appoint statutory auditors
• Proposed company name application (SPICE+ Part A)
• Memorandum of Association (MoA) and Articles of Association (AoA)
• Director Identification Numbers (DINs) and Digital Signature Certificates (DSCs) of directors
• KYC documents of shareholders holding ≥10% equity
• Foreign company’s incorporation documents (COI, MoA, AOA)
• Power of attorney appointing authorized representatives in India
• Project feasibility report or detailed business plan
• Bank account details and initial authorized share capital
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A Foreign Company Subsidiary is a separate legal entity established by a foreign company to conduct business activities in India. It is wholly owned or controlled by the foreign company.
Any foreign company intending to establish a wholly-owned subsidiary or a subsidiary with majority ownership in India can register a Foreign Company Subsidiary.
Key requirements include approval from the RBI or Foreign Investment Promotion Board (FIPB), submission of incorporation documents, appointment of directors, and compliance with Indian tax and regulatory laws.
Foreign Company Subsidiaries can engage in various business activities permitted under Indian laws, subject to compliance with regulatory requirements.
Foreign Company Subsidiaries must adhere to Indian company laws, maintain proper accounting records, file annual returns, and comply with Indian tax regulations.
No specific minimum capital is mandated, but the chosen capital should be sufficient to support initial operations.
At least two directors are necessary, with at least one resident director in India.
Yes, Foreign Company Subsidiaries can repatriate profits outside India after paying applicable taxes and obtaining approval from the RBI.
Yes, a Foreign Company Subsidiary can be wholly owned by the parent company, or it can have majority ownership, depending on the strategic objectives of the parent company.
There is no specific validity period for a Foreign Company Subsidiary registration. It continues to exist until it is voluntarily dissolved or struck off by regulatory authorities.
The registration process for a Foreign Company Subsidiary usually takes around 4 to 6 months, subject to approval from regulatory authorities and timely submission of required documents.
Company Avenue Advisory offers expert guidance and support throughout the Foreign Company Subsidiary registration process, including regulatory approvals, documentation, compliance, and liaison with regulatory authorities, ensuring a seamless registration process.
Subsidiaries must comply with Indian company law, tax regulations, and industry-specific compliance requirements.
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Setting up a foreign company subsidiary in India provides a strategic advantage for international businesses looking to enter the Indian market. A subsidiary allows a foreign company to operate with greater control and benefit from local market insights, tax advantages, and regulatory support.
The process of establishing a foreign company subsidiary in India begins with choosing the appropriate business structure. Common options include private limited companies and wholly-owned subsidiaries. The chosen structure should align with the parent company’s objectives and compliance requirements in India.
Once the structure is decided, the next step involves obtaining necessary approvals from the Reserve Bank of India (RBI) and the Foreign Investment Promotion Board (FIPB) if applicable. The subsidiary must be registered with the Ministry of Corporate Affairs (MCA) by filing the incorporation documents, including the Memorandum of Association (MOA) and Articles of Association (AOA).
Key documents required for setting up a foreign subsidiary include the parent company’s certificate of incorporation, board resolution authorizing the establishment of the subsidiary, and identity and address proofs of the directors. These documents must be authenticated and submitted to the Registrar of Companies (ROC) for approval.
After obtaining the Certificate of Incorporation, the subsidiary must apply for a Permanent Account Number (PAN), Tax Deduction and Collection Account Number (TAN), and Goods and Services Tax (GST) registration if applicable. These registrations are essential for complying with Indian tax laws and regulations.
Setting up a foreign company subsidiary in India offers several benefits. It provides access to one of the world’s largest consumer markets, enabling the parent company to expand its global footprint. Additionally, subsidiaries benefit from local tax incentives, reduced import duties, and government support for foreign direct investment (FDI). Operating as a local entity also enhances credibility and trust among Indian customers and partners.
In conclusion, establishing a foreign company subsidiary in India is a strategic move for international businesses seeking market expansion and operational control. The process involves multiple steps, including regulatory approvals and compliance with Indian laws. The advantages of market access, tax benefits, and enhanced credibility make it a valuable investment for global businesses.
