Hello,
Procedure for a foreign company to start off with a Wholly owned subsidiary in India through FDI.
Can anyone provide me provision related to FIRC,-FC GPR etc.
Best Regards
Jeets
vivek
(CS)
(751 Points)
Replied 21 July 2010
Wholly owned subsidiaries - Foreign companies may set up a wholly owned subsidiary, which is an Indian Company with an independent legal status, distinct from the parent foreign company.
Under the current foreign investment policy, a wholly owned subsidiary can be established either under the automatic route, if the conditions specified therein are complied with (specific high priority industries) or obtain an approval from the FIPB.
For this firet of all follow all the procdure of incorporation of a company and while issuing shares to Foreign Company and nomine subscribers follow the FDI guidelines for the same you may refer attached checklist that may help you.
Regards,
CS Vijay Daxini
(At Practice)
(732 Points)
Replied 21 July 2010
thanks to vivek n keep sharing such wonderful information
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