This article elucidates meaning of foreign company along with the foreign company registration process.
India is a platform for Foreigners and Multinational Corporation to do Business with great Human resource. Private limited company is the fastest, cheapest and most reliable form of company to be registered as Foreign Company in India.
As per section 2(42), a foreign company is any company or body corporate incorporated outside India which has a place of business in India whether by itself or through an agent, physically or through electronic mode and conducts any business activity in India in any other manner.
Documents Required for Foreign Company Registration
1. Address proof of the office and if accommodation is rented then latest electricity bill.
2. For Indian Citizen
• PAN card is mandatory
• Address proof
• Photograph ID proof like passport, Aadhar card or driving license.
3. For Foreign Nationals
• Passport mandatory
• Address Proof
• Photograph ID Proof like any government license or document containing the name in full, photo and date of birth.)
Procedure of registering a Foreign company
Step -1- Submission of forms
Within thirty days from the establishment of place of business, the below-mentioned documents shall be submitted to the Registrar of Companies situated in the area in which the company has its principle place of business-
• Form No.44 duly filled in;
• A certified true copy of the Memorandum and Articles of Association or charter or statute or any other instrument which constitutes or defines the constitution of the company;
• If the instrument mentioned above is not in English language, then a translation of it in English language shall be submitted. The instrument must be certified by the following persons:-
If the translation is made outside India, then it shall be authenticated by the signature and seal, if any, of the official having custody of the original or of a Notary (Public) of the country where the company is incorporated;
If the translation is made within India, then by an advocate, attorney or pleader of any High Court or by an affidavit of some person who has an adequate knowledge of both the language in the opinion of the Registrar.
Step-2- Verification by person resident in India
Further, the form mentioned above shall be signed by the person resident in India authorized to accept notice of service on behalf of the foreign company. However, limited companies cannot be accepted as authorized person.
Step 3-Serve Notice
In case the proposed company is incorporated outside India by a Royal Charter or any special Act of Parliament of that country, where it is incorporated, and then the applicant is just required to serve a notice to the concerned Registrar of Companies for his information on it is establishing a place of business in India.
Step- 4- Paying Fees
The applicant shall pay the filing fee of Rs.200/- either by way of receipted treasury challan or by cash only to the Registrar of Companies, Delhi and Haryana, New Delhi.
Step-5- Payment through treasury challan
In case the filing fee is paid by way of treasury challan, then pay through treasury challan prepared in triplicate and paid into any of the specified branches of the Punjab National Bank for credit under the head,”104—Other General Economic Services—Joint Stock Companies—Registration of Joint Stock Companies”. Two copies of the treasury challan will be given back to the depositor out of which the original copy should be attached to the Form mentioned in item 1(i).
Step-6- Fees through demand draft
However, if the filing fee is paid through demand draft, then draw it in favor of the Registrar of Companies, Delhi and Haryana, New Delhi and payable at New Delhi.
The documents shall be delivered to the Registrar of Companies along with the attached receipted treasury challan or the demand draft for the payment of the requisite filing fee mentioned above. In case the registrar is satisfied with the documents it will grant a certificate of registration.