Poonawalla fincorps
Poonawalla fincorps

100% ownership by a foreign national

This query is : Resolved 

10 November 2010 Sir,

Is there any prohibition as to incorporation of Company in India by a foreign national,for IT related business of exports? Is there any requirement as to the subscribers to the memorandum needs to be Indians? Will it be mandatory to have an Indian director(may be as additional director) in this case?

10 March 2011 No,
No.
No, but it shall be better to have the same so as to avoid problems in day to day functioning of Company in India.



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