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Before knowing how to incorporate a foreign subsidiary company in India we need to know a few terms as defined below:
A foreign subsidiary company is a company controlled by another corporation with more than 50% voting shares or where the parent company controls the composition of the Board of Directors. When a parent company has a foreign subsidiary, the subsidiary must abide by the laws of the nation in which it operates. As a result, if a foreign company is formed in India, it must adhere to Indian regulations.
A foreign subsidiary company is a company that is entirely or partially owned by the parent company. It also operates in one nation while its parent company is located in another. For example, a parent corporation based in the United Kingdom is conducting business in India through a subsidiary company.
A foreign company, according to section 2(42) of the Companies Act, 2013, is any corporation or corporate entity established outside of India that has the following characteristics:
This foreign subsidiary company must follow the norms and rules of the domestic legislation of the nation in which it is located. It should not be bound by the same laws as its parent company.
A foreign subsidiary company is a company that is entirely or partially owned by the parent company. It also operates in one nation while its parent company is located in another. For example, a parent corporation based in the United Kingdom is conducting business in India through a subsidiary company.
The process of foreign subsidiary company registration in India follows the below-mentioned steps:-
Application for Name Approval- Reserving a company name is the first move toward a foreign subsidiary company registration. It is acceptable to use the same name as the parent company with the addition of the term "India" in the case of a foreign subsidiary. The name is permitted as long as it is not identical to any existing companies or is not illegal.
Procurement of DSC- In the meantime, the Digital Signature Certificate (DSC) for the prospective directors of the Company will be obtained. This DSC is necessary to electronically file the Incorporation application and will be utilised for future compliance reports.
Application for Incorporation- The Company Registration procedure comes to a close at this stage. It necessitates the filing of the Company's Memorandum and Articles of Association, as well as many additional papers signed by the prospective directors and shareholders.
Online Legal India provides you with the service of foreign subsidiary company registration in India at an affordable cost. One does not have to spend a lot on registration. One can do their foreign subsidiary company’s registration online by the legal experts who have years of experience and are the best in their work.
The specialists of Online Legal India provide the best services to their customers and help them throughout the entire process. Foreign subsidiary company registration is as important as any other kind of company registration in India and it is kind of compulsory to register it as earlier as possible after its institution.
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