Foreign Subsidiary Company is the Private Limited Company registered with Registrar of Companies (ROC) with its primary purpose to issue the shares to the Foreign Company. Foreign Subsidiary Company also required the approval from Reserve Bank of India (RBI) as it brings the Foreign Direct Investment (FDI) in terms of initial capital subscription by the parent company.
Foreign Subsidiary Company also requires the approval from the Parent Company through the Board Resolution passed by the board of the Parent Company authorizing the representative to act as nominee on its behalf and issue no objection on usage of similar company name in India.
The following information are needed in order to open a Wholly Owned Subsidiary Company in India:
- 1 ID Proof (PAN Card, Aadhar Card, Voter ID Card, Passport etc)
- 1 Address Proof (Aadhar Card, Voter ID Card, Passport etc)
- 1 Passport Size Photo in softcopy
- 1 Specimen signature in soft copy
- 1 Utility Bill (Bank Statement, Mobile Bill, Electricity bill not older than 2 months)
- Certificate of formation of the holding company
- Byelaws of the holding company
- Board resolution along with a No Object Certificate (NOC) stating the formation of subsidiary
- Personal KYC documents from the holding company’s director
- *it should be apostilled from the notary public of holding company country.
- No objection certificate (NOC) from the property’s owner
- Electricity or Water bill not older than 2 months
- Rent Agreement
Apply for the Digital Signature of the directors.
File Spice+ Part A form for the reservation of the company’s proposed name.
File the incorporation forms: Spice+ Part B, Spice MOA, Spice AOA, Spice Agile Pro with the ROC.
ROC will issue the Certificate of Incorporation.
Within 180 days of the formation of the company, File for Form INC-20A.
A minimum of two shareholders are required to form a Foreign Subsidiary Company in India.
Choose a unique name that is not similar to the companies already registered. You can visit the website of ROC to check whether your proposed name is registered or not. Your name of the company can be different from the name of your brand.
Yes, you can have as many as foreign directors as you desire however, one of the directors must be an Indian resident.
The Foreign Subsidiary Company initially needs to file Form SMF (FC-GPR) with the RBI at the time of capital subscription by the Parent Company and thereafter needs to file the annual Foreign Liability and Assets (FLA) return with RBI.
Foreign Subsidiary Company needs to request the KYC & FIRC from its AD Bank w.r.t money received from the Parent Company as capital, then needs to file Form FC-GPR with the RBI attaching this KYC & FIRC along with other requisite documents.
Foreign Subsidiary Company requires additional five more days on tentative basis if we compare with timelines of formation of normal Private Limited Company.
Yes, a Foreign Liabilities and Assets (FLA) statement needs to be filed with the RBI indicating the provisional or audited financial statements.
The share certificate needs to be issued in the name of the Parent Company.
The holding company authorizes a representative who shall execute the MOA and AOA on behalf of Foreign Subsidiary Company.
There is no such additional compliance in Income Tax for Foreign Subsidiary Company.
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