Fdi in private limited company
This query is : Resolved
07 November 2012
Dear Sir,
One of my UK client opened an Private Limited company in India doing IT business. He is owing 50% share capital of the company i.e. Rs 50,000.
I want to know that is there any requirement to intimate RBI for this..?? and if Yes, which form have to file with RBI and what will be the time period for this..??
One of my UK client opened an Private Limited company in India doing IT business. He is owing 50% share capital of the company i.e. Rs 50,000.
I want to know that is there any requirement to intimate RBI for this..?? and if Yes, which form have to file with RBI and what will be the time period for this..??
08 November 2012
Mr Joshi RBI permission is MUST before you issue Share Certificate.
UK client must have transfer the British Pounds in Company's account - so FIRC should be obtained from the Bank. And on the support of this FIRC you can proceed further. If FIRC not in order then UK CLIENT is not share holder.
Please contact me in detail as one of my client is also from UK and is shareholder of Indian IT Company.
contact@vkbajaj.co.in
UK client must have transfer the British Pounds in Company's account - so FIRC should be obtained from the Bank. And on the support of this FIRC you can proceed further. If FIRC not in order then UK CLIENT is not share holder.
Please contact me in detail as one of my client is also from UK and is shareholder of Indian IT Company.
contact@vkbajaj.co.in
08 November 2012
Hi Amit,
Can you specify when did the Indian Comany was registered and when was the Foreign remmitance for the share capital receved in India.
As per law you to intimate your banker within 30 days of receipt of payment in Foreign Currency along with KYC of the Foreign Company.
Also you need to issue shares for such receipt of foreign Currency or refund the said money within 6 months of original receipt.Then you shal need to file Form FCGPR alongwith Share Valuation Certificate and Certificate from CS regarding the valuation and allotment of shares against such money.
Anuj
femaquery@gmail.com
Can you specify when did the Indian Comany was registered and when was the Foreign remmitance for the share capital receved in India.
As per law you to intimate your banker within 30 days of receipt of payment in Foreign Currency along with KYC of the Foreign Company.
Also you need to issue shares for such receipt of foreign Currency or refund the said money within 6 months of original receipt.Then you shal need to file Form FCGPR alongwith Share Valuation Certificate and Certificate from CS regarding the valuation and allotment of shares against such money.
Anuj
femaquery@gmail.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
