Incorporation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 March 2010 Dear Friends

i need advice on formalities to be follwed whed two US citizens are subscribing to shares. who are all has to attest signing sheets of AOA and MOA in USA

Rasesh

Rasesh (Expert)
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25 March 2010 A foreign citizen can commence operations in India by incorporating a company (as an Indian company) under the Companies Act,1956 through

a) Joint Ventures; or

b) Wholly Owned Subsidiaries

Foreign equity in such Indian companies can be up to 100% depending on the requirements of the investor, subject to equity caps in respect of the area of activities under the Foreign Direct Investment (FDI) policy

I feel from your query that the company is to be incorported as a WOS, in which case the two US Citizens have to obtain a DIN from the mca and then they can apply as subscribers to the MOA/AOA.

As regards attestation is concerned, since the MOA and AOA are signed outside india, the MOA &AOA has to be notorised and endorsed by the Indian consulate Generals office of that country.