Foreign Company Registration in India | Wholly Owned Subsidiary Incorporation

India is among the fastest growing economies of the world with plenty of business opportunities which make it a preferred destination for investment form NRIs, Foreign Nationals and Foreign Companies. There are many ways by which foreign investment can be done in India. One of the most successful and sought after ways is Incorporation of Foreign Subsidiary in India.

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What is Statutory Audit

Audits are primarily aimed at protecting a company’s shareholders. They help investors gain confidence in a company and reflect the company’s true business health and performance.

A fast-paced business environment combined with the need to be in sync with the global standards has raised the performance bar for companies and brought in high-quality statutory requirements in the country. Continue reading “What is Statutory Audit”

Mandatory Compliances for a Private Limited Company in India

Although Private Limited Company is the most popular form of starting a business, there are various compliances which are required to be followed once your business is incorporated.

Managing the day to day operations of your business along with complying the corporate laws can be little taxing for any entrepreneur. Hence, it is essential to take help of a professional and also understand such legal requirements to ensure timely fulfilment of compliances, without any levy of interest or penalty.

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Mandatory Compliances for an LLP (Limited Liability Partnership)

All LLPs registered with the Ministry of Corporate Affairs need to file Annual Returns and Statement of Accounts for every Financial Year. It is mandatory for a LLP to file a return irrespective of whether it has done any business. There are three mandatory compliance requirements to be followed by LLPs.

  • Filing of Annual Return
  • Filing of Statement of the Accounts or Financial Statements
  • Filing of Income Tax Returns

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Difference Between Branch and Subsidiary in India

There are many entry modes by which a foreign company can establish an entity in India. The choice of business form entirely depends upon the end goals to be achieved.

In this article we will discuss the following 2 options for foreign companies entering into India:

  1. Establishing a Branch office (BO);
  2. Establishing a Subsidiary or Wholly Owned Subsidiary (WOS)
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ACTIVE (INC – 22A) Compliance – KYC for Companies

In order to do KYC of companies and to verify their registered office, the Ministry of Corporate Affairs (MCA) has on 21st February 2019 issued Companies (Incorporation) Amendment Rules, 2019 whereby every company, including a company having license under section 8 of the Indian Companies Act 2013 or under section 25 of the erstwhile Indian Companies Act 1956 and incorporated on or before the 31st December, 2017 is now required to file important details of the company and its registered office in e-form ACTIVE (INC – 22A) on or before 25th April 2019. Continue reading “ACTIVE (INC – 22A) Compliance – KYC for Companies”