Foreign Company Registration in Bangalore
Foreign Company Under the Companies Act, 2013
Sec 2(42) of the Companies Act, 2013 (‘Act’) defines a
foreign company as a body corporate or company that is incorporated outside
India, but-
- Has
a business place in India, whether through an agent or by itself, either
physically or through electronic mode
- Conducts
business activity in India in any other manner
What are the Ways in Which
Foreign companies can be Registered in India?
A foreign national can establish
a foreign company as a private limited company in India. Establishing a private
limited company is the fastest way to set up a company in India. FDI of up to
100% into a private limited company is permitted under the FDI policy under the
automatic route. A foreign national can incorporate a private limited company
as a joint venture or a wholly-owned subsidiary.
Registering a foreign company in Bangalore, India, involves
several steps and procedures. Here's a general overview of the process:
1. Obtain
Digital Signature Certificate (DSC): At least one of the directors of
the foreign company needs to have a DSC. This is necessary for filing the
registration documents online.
2. Obtain
Director Identification Number (DIN): Each director of the foreign
company must obtain a DIN from the Ministry of Corporate Affairs (MCA) in
India. This can be done online.
3. Reserve
Company Name: The next step is to reserve a unique name for the
company. You can do this through the MCA portal. Make sure the name
complies with the naming guidelines provided by the Companies Act, 2013.
4. Prepare
Documents: Gather the necessary documents such as passport copies,
address proofs, and other required certificates for the directors and
shareholders of the foreign company.
5. Draft
Memorandum of Association (MoA) and Articles of Association (AoA):
These documents outline the objectives and rules of the company. They need
to be drafted in compliance with the Companies Act.
6. File
Incorporation Documents: Once all the documents are ready, file them
with the Registrar of Companies (RoC). This can be done online through the
MCA portal. Along with the documents, you'll need to pay the prescribed
fees.
7. Certificate
of Incorporation: If all the documents are in order and comply with
the regulations, the RoC will issue a Certificate of Incorporation. This
certifies that the company is now officially registered.
8. Apply
for PAN and TAN: After obtaining the Certificate of Incorporation,
apply for Permanent Account Number (PAN) and Tax Deduction and Collection
Account Number (TAN) for the newly registered company.
9. Register
for GST: Depending on the nature of the business, you may need to
register for Goods and Services Tax (GST) with the GST authorities.
10. Open
Bank Account: Finally, open a bank account in the name of the newly
registered company with a bank of your choice.
Created & Posted by Navneet Kumar
CA Article at TAXAJ
TAXAJ is a consortium of CA, CS, Advocates & Professionals from specific fields to provide you a One Stop Solution for all your Business, Financial, Taxation & Legal Matters under One Roof. Some of them are: Launch Your Start-Up Company/Business, Trademark & Brand Registration, Digital Marketing, E-Stamp Paper Online, Closure of Business, Legal Services, Payroll Services, etc. For any further queries related to this or anything else visit TAXAJ
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