15 December 2008
Sir I am in process of incorporating a private limited company in which promoter director includes indian as well as foreign national. please let me know what is maximum permisible share holding by foreign natinal. Please also guide me about other requirement for foreign national promoter director. I am in very urgent need of your help. Thanks
Please note that there is no restriction for the foreign national to act as a director of the Indian Company. You may have to comply with the requirement of the master circular on foreign direct investment which gives the limits upto which foreign companies or foreign nationals can hold shares in the Indian entities under automatic route without the approval of the Government. Further the FEma has prescribed the filing of returns with the RBI and also the time limits. Please go through FEMA regulations and also the RBI master circular. Since you have not mentioned the business of the Indian private limited company, it is not possible to give the limits
CAclubindia
