Non Resident to form a (p) ltd Company
This query is : Resolved
21 December 2010
Can a Non Resident Indian Form a private Limited Indian company in India for Manufacturing any item under following cases.
1. He is Shareholder in the company along with other share holders who are resident Indians.
2. He is Also Drector in the company along with other drectors who are Indian resident.
If No, under which Sections/Clause of
which act/rule.
1. He is Shareholder in the company along with other share holders who are resident Indians.
2. He is Also Drector in the company along with other drectors who are Indian resident.
If No, under which Sections/Clause of
which act/rule.
21 December 2010
YES. HE CAN BE APPOINTED AS FIRST DIRECTOR OF A COMPANY.
21 December 2010
Sir can he be shareholder in the company , if not why , please explain
21 December 2010
NRIs are permitted to directly invest in proprietary/partnership concerns as also in shares/debentures of Indian companies. They are also permitted to make portfolio investments i.e. purchase of shares/debentures of Indian companies through stock exchanges. These facilities are granted both on repatriation and non-repatriation basis.
21 December 2010
Indian companies have been granted general permission to accept investments on non-repatriation basis, in shares/convertible debentures by way of new/rights issue provided the investee company is not engaged in agricultural/plantation activity or real estate business (excluding real estate development i.e. development of property and construction of house) or chit fund or is not a Nidhi company
21 December 2010
However, the firms/companies concerned are required to file declarations with Reserve Bank in form DIN giving particulars of the investments made, within ninety days from the date the investments were made.
21 December 2010
Sir Can He become a promoter of a private Limited Company in which s takes a majority Share and also become a director.
21 December 2010
How should he Bring the money from USA. for investing in the proposed co. What precautons should be taken.
21 December 2010
YES HE CAN BE PROMOTER OF A PRIVATE LTD CO.
21 December 2010
Yes he can be a majority shareholder and also a director of the company. The money should be brought through Authorised Dealers. Once the shares are alloted Form 2 should be filed with ROC and FCGPR with RBI.
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