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A foreign company under Indian law refers to any company that is incorporated and registered outside of India but conducts business activities in India through various means such as a place of business, liaison office, subsidiary, joint venture or branch office. The key criteria is that the parent company is incorporated outside India while having some presence for business purposes within India.
India’s rapid economic expansion and policy reforms make it an attractive investment destination for global enterprises.
To conduct business operations in the country, overseas corporations have to set up Indian entities by following the foreign company registration process laid out in the Companies Act, 2013. Within 30 days of establishing a place of business in India, foreign companies must register with the Registrar of Companies (RoC) and furnish incorporation details, chartered documents and director information.
Post registration, they need to obtain necessary regulatory approvals, open bank accounts, adhere to foreign investment norms and meet auditing requirements applicable in India. Navigating the regulatory ecosystem can be complicated for international businesses. Hence, obtaining professional advisory services is vital for swiftly completing registration formalities and launching compliant India operations.
Here are some key terminologies related to Indian companies:
A company incorporated outside India which has a place of business in India.
Includes a share transfer or registration office, factory, mine or any other fixed establishment for carrying on business activities in India.
The official address of the company in India for communication from the Registrar and Government authorities.
The maximum capital that a company is allowed to issue at any point of time.
The portion of authorized capital that has been allotted and for which payment has been received.
An Indian resident appointed as director on the Board of the foreign company’s Indian operations.
A temporary office set up to collect information about possible investment opportunities. Cannot carry out commercial activities.
An extended arm of the foreign company which undertakes import/export, consultancy, research, technical support etc.
Set up to execute a specific project obtained from an Indian company. Closed once project is complete.
An Indian company with 100% foreign direct investment controlled fully by the foreign company.
As per Indian company law, the following parties can apply for foreign company registration in India:
The incorporated foreign company outside India looking to set up a place of business in India, such as a liaison office, project office, branch office etc. can directly apply for the registration.
If the foreign company establishes a wholly owned Indian subsidiary company under the Companies Act 2013, then this Indian subsidiary can apply for the registration. However, the parent foreign company information will still need to be submitted.
The foreign parent company can authorize an individual, who is an Indian resident, to represent and undertake the registration process on behalf of the company. The authorized representative can be a director, local manager, power of attorney holder appointed for this purpose.
The foreign company can also authorize a professional services firm such as a law firm, chartered accountant firm or compliance consulting firm to facilitate the registration application on its behalf. The authorized signatory in these cases would be a partner or director representing the firm.
If the foreign company already has existing operations in India under the charge of an authorized representative such as Country Head or India Branch Manager, then this official can undertake the registration formalities with due approval from the parent entity.
The application for registration should be accompanied by the required incorporation documents, details and authorization letter in order verify authenticity and legitimacy of the applicant. The registrar may ask additional questions if needed.
Here are the key documents required for foreign company registration in India:
Additionally, private limited companies would need to submit Form INC-22 for each document along with filing fees. The documents need certification from a Chartered Accountant/Company Secretary before submission.
Once submitted, the Registrar of Companies issues a Certificate of Registration after approval, allowing the foreign company to establish a place of business in India.
Contact us to know moreThe government charges applicable for a foreign company registering in India are as follows:
– For foreign company with authorized capital of up to Rs. 50 lakhs – Rs. 5,000
– For foreign company with authorized capital of Rs. 50 lakhs to Rs. 5 crores – Rs. 50,000
– For foreign company with authorized capital of over Rs. 5 crores – Rs. 1, 00,000
– Memorandum (INC-22) – Rs. 200 per document
– Article of Association (INC-22) – Rs. 200 per document
– Copy of Charter, Statute, MoA, AoA (INC-22) – Rs. 200 per document
Additionally professional and consultant fees may apply. Overall costs range from Rs. 35,000 to Rs. 3, 50,000 depending on capital structure and registration category.
Here are the key advantages of a foreign company registering in India:
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