Indian Subsidiary
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Indian Subsidiary
What is Indian Subsidiary?
Indian subsidiary registration is important when foreign investors are looking forward to starting their business in India. Tons of opportunities will be provided to them due to the fast-growing markets available. The Indian subsidiary is a company that a foreign company owns under the Companies Act 2013. The Indian subsidiary will do the complete registration process.
It is important when the foreign company is looking forward to having a stable business in India. The Indian subsidiary company can be referred to as a sister company controlled by the parent company and is responsible for all the control over the subsidiary company.
In India, the following steps must be taken to register a subsidiary:
In order to start your business with such an entity, you need to go through the process of Indian Subsidiary incorporation. Once you are successful with the process, you will get to enjoy the perks of a Indian Subsidiary that includes the following:
Step 1: The type of entity:
The type of entity is important to figure out. The type of entity indicates the business a particular foreign company is going to deal with in India.
Step 2: Manager of relationships:
Relationship manager allocation is also important. The relationship manager will be available to collect all the documents regarding the Indian subsidiary you are looking forward to registering.
Step 3: Name approval:
Name approval is also an important factor. It is necessary to draft the memorandum of association, and within 60 days, it needs to be completed.
Step 4: Digital signature certificate:
All the company directors must acquire the digital signature certificate because it is important for all the aspects regarding the ministry of corporate affairs and completing the online registration procedure.
Step 5: Director's identification number
A director's identification number will be available to every person who is ready to become the director of the company. It will be made according to the form of incorporation.
Step 6: Pass board resolution for the incorporation of the company:
A Board resolution is important to pass as it is part of the incorporation of the company in India. For it, shareholders are required for a private limited company. 99.99% of the total shares will be owned by the Indian company, and 0.01% of the company's shares will be controlled by both the Indian and the foreign company.
Step 7: Registration form:
A registration form will be issued with which all the documents will be uploaded, considering the registration procedure. And make sure to submit all of them. If any of it is found to be missed, then the application will be rejected.
Step 8: PAN, TAN, GST, EPFO, ESIC:
Do register for all the PAN, TAN, GST, EPFO, ESIC, and be ready to move out of your bank account.
Step 9: Registration for a bank account:
After the complete registration process and verification has been done, the foreign company is ready to register for the Indian Bank account. Ensure to present all the valuable documents because if any of them is missed, the process will be terminated. At Legal Times, we have the facility available for you. Just get in touch with us so that there will be no problems throughout, and getting the registration done will be easy.
Benefits
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Requirements
Documents Required
PAN CARD
Need Pan Card of all Shareholders and Directors, Foreign Directors must be required a valid Passport with validated or apostilled
PHOTOGRAPH
Updated Passport size photos of all Participators / Shareholders and Directors.
IDENTITY PROOF
Need identity proof: - Aadhar Card/ Voter ID/Passport/ Driving License of all Shareholders and Directors.
ADDRESS PROOF
Updated Electricity Bill/ Telephone Bill / Bank Account Statement of all Shareholders & Directors.
FOR REGISTERED OFFICE
Rent agreement
Valid Rent agreement, Utility bills:- telephone bill, electricity bill, and municipal (It should be last 2 Months) NOC From Owner.
NOC From Owner.
Post Company Registration Requirements?
Once the Company registration is completed, you have to take the necessary steps in order to make a strong presence in the industry.
Get a free consultation for Private Limited Company registration by scheduling an appointment with Legal Time.