Tuesday, 17 March 2020

Registration of Foreign Companies in India

Registration of Foreign Companies in India
Companies (Registration of Foreign Companies) Rules, 2014 prescribes guidelines to be followed for the Registration of foreign companies in India.

Particulars relating to directors and Secretary to be furnished to the Registrar by foreign Companies:

1. Every foreign company shall, within thirty days of establishment of its place of business in India, in addition to the particulars specified in subsection (1) of section 380 of the Act (i.e, Companies Act, 2013), Chartered accountant firm also deliver to the Registrar for registration, a list of directors and Secretary of such company.
2. The list of directors and secretary or equivalent (by whatever name called) of the foreign company shall contain the prescribed particulars, for each of the persons included in such list.
3. (3) A foreign company shall, within a period of thirty days of the establishment of its place of business in India, file with the registrar Form FC-1 with such fee as provided in Companies (Registration Offices and Fees) Rules, 2014 and with the documents required to be delivered for registration by a foreign company in accordance with the provisions Expatriates taxation of sub-section (1) of section 380 and the application shall also be supported with an attested copy of approval from the Reserve Bank of India under Foreign Exchange Management Act or Regulations, and also from other regulators, if any, approval is required by such foreign company to establish a place of business in India or a declaration from the authorized representative of such foreign company that no such approval is required.
4. (4) Where any alteration is made or occurs in the document delivered to the Registrar for registration under sub-section (1) of section 380, the foreign company shall file with the GST consultants in Mumbai Registrar, a return in Form FC2 along with the fee as provided in the Companies (Registration Offices and Fees) Rules, 2014 containing the particulars of the alteration, within a period of thirty days from the date on which the alteration was made or occurred.

Financial Statement of foreign company:

Every foreign company shall prepare financial statement of its Indian business operations in accordance with Schedule III or as near thereto as may be possible for each financial year including-
2. Every foreign company shall, along with the financial statement required to be filed with the Registrar, attach thereto the following documents; namely:-
a. Statement of related party transaction, which shall include-
b. Statement of Expats taxation of profits which shall include-
c. Statement of transfer of funds (including dividends if any) which shall, in relation of any fund transfer between place of business of foreign company in India and any other related party of the foreign company outside India including its holding, subsidiary and associate company, include-
3. The documents referred to in this rule shall be delivered to the Registrar within a period of six months of the close of the financial year of the foreign company to which the documents relate.
Provided that the Registrar may, for any special reason, and on application made in writing by the foreign company concerned, extend the said period by a period not exceeding three months.

1 comment:

  1. Thank you for sharing the valuable content.

    Pioneer Cranes and Elevators is TOP EOT Crane Manufacturers in India. We used high quality raw material and used modern and latest technology for our best JIB Crane manufacturing. which is highly valued for low maintenance cost and longer service life.