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What is Subsidiary of a Foreign Company ?
Under Section 4(7) of the Companies Act 2013, In India a Subsidiary company is the one where parent company directly or indirectly holds 51% voting rights in that company.
Eligibility for Registering Subsidiary of a Foreign Company
- Must receive specific approval from the Reserve Bank of India’s (RBI) Foreign Exchange Department to operate a Branch office in the country
- Shall have at least two directors, of which one should be an Indian resident
- Shall have at least two shareholders, a shareholder can be either a foreign individual or a foreign company
- The parent company should hold 51% of the total equity capital
Key Features & Benefits of Subsidiary of a Foreign Company
Process for Registering Subsidiary of a Foreign Company
Documents Required for Registering Subsidiary Company of a Foreign Company
Following documents are required for registering Subsidiary Company:
- 2 Copies of Certificate of Incorporation / Registration (notarized and attested by Indian Embassy) (One copy each for RBI & ROC). If it is in a language other than English then Translation of the same notarized and attested by Indian Embassy is required.
- 2 Copies of Memorandum & Articles of Association (English Translation) notarized and attested by Indian Embassy
- Details of Last Three Years Import Into / Export From India (On letterhead, signed with a stamp, five copies)
- Latest 5 years Audited Balance Sheet (English translation) notarized/attested by Indian Embassy
- Details of Authorized representatives.
- Details of existing Indian Clients, if any
- Details of products/services to be rendered in India by the parent company. Also, provide some literature like brochures/catalogues of products and literature on the company, if any. Indian regulators (RBI) love this literature and it helps in getting the process completed speedily
- Regulatory and legal Forms/ documents.
- Details of Activities to be undertaken in India in case of the Branch office.
- Proof of Registered Address.