Resident Director | Project Office | Branch Office

RESIDENT DIRECTOR

• The Resident Director definition is given under section 149 (3) of Companies Act 2013.
• Resident Director is the Director of the company who reside in India for Minimum 182 days in Previous Financial year.
• As per the above section, every company have one resident Director in the Board of Directors.
• The company registered in between 1st April 2014 to 3oth September 2014 then he required to appoint Resident Director

1. at the time of Company registration or
2. within 6 Month of Company registration.

• Any company registered after 30th September 2014 is required to have a Resident Director in his Board of Directors at the time of company registration

HOW TO FORM INDIAN SUBSIDIARY OF FOREIGN COMPANY IN INDIA

• Incorporation of Company (Private or Public Limited Company) in India as Wholly Owned Subsidiary (100% Shares held by the Parent company) of Foreign Company (The parent company incorporated outside India) or
• Joint Venture (two or more company jointly hold the Company in agreed proportion) or
• Open Project or Liaison or Branch office in India.

REQUIREMENTS FOR INDIAN SUBSIDIARY COMPANY REGISTRATION

• The Company having one Resident Director & Indian Citizen in the Board of Directors of the Indian subsidiary of foreign company.
• The other directors of any nationality in Boards of Directors (BODs)
• The permitted & Legal Activities carried out by Indian subsidiary of a foreign company is as per Foreign Exchange Management Act (FEMA) & Reserve Bank of India (RBI) guidelines.
• All the documents of other Directors or Members are Certified/Checked by Indian Consulate and their respective country where they reside.
• Passport is Mandatory for all Directors and Members (if Individual) otherwise Memorandum of Association (MOA) & Articles of Association (AOA) of Parent Company.
• Declaration by all non-resident Directors/members for not having PAN Card and certified the authority of their origin country.

DOCUMENTS FOR INDIAN SUBSIDIARY COMPANY REGISTRATION

• Memorandum of Association (MOA) & Articles of Association (AOA) of the Parent Company.
• All the documents of the Directors, Members & Parents company Certified & Notarized by the Authority of the country of origin.

POWER OF RESIDENT DIRECTOR

• The Resident Director of the company has all the power which is exercised by the normal director of the company as per companies act 2013 & Company MOA & AOA but subject to the approval of the Board of Directors.

HOW EstellaConsultancy HELP YOU

• Estellaconsultancy provides a facility of Resident Director for foreign Subsidiaries
• The person appointed as Resident Director is non-executive director, means he has not actively participated in the following activities are;-

1. Key Decision making;
2. Business Affair;
3. Don’t have a banking signing power;
4. Day to day working;
5. Not having signing Authority of the behalf of other Directors;

• The Resident director is provided here for only fulfil the Statutory Duties/provisions of Company act 2013 & Mutually decided Terms & Conditions like:-

1. Annual Return;
2. Board Report;
3. Minutes;
4. Board Meeting (if Permitted);
5. Statutory Registers etc.

• A legal contract will be signed between Resident Director & Other Directors/members to Decide its duties in the company.
• Company may ask the Resident Director to resign from the board of Directors anytime.
• Estellaconsultancy.com is provided with all services related to

1. Company Registration;
2. Annual Compliance;
3. Appointment of Resident Director or Nominee Director or Executive Directors;
4. Change in Shareholding;
5. Increased Authorised Capital;
6. Maintain Books of Accounts & etc.