Any foreign company can incorporate a wholly owned subsidiary company in India. In India, private limited companies are most popular form of business structure and therefore most obvious choice of foreign companies. In an Indian private limited company, there can be two shareholders and two directors and at least one Director should be resident in India. 100% shareholding of an Indian private limited company can be owned by its foreign holding company and the requirement of having at least two shareholders can be fulfilled by giving just one share to the nominee of foreign company.
The provisions of Singapore’s Companies Act allow a foreign national individual or company to own 100% shares of a Singapore Company Registration. This means, even if you are not a citizen of Singapore and permanently residing there, you don’t need to have a local Singaporean as Partner or shareholder in your Singaporean company. Further there are no restrictions on the amount of capital that you one can bring in to invest in a Singaporean company and there is no restriction on repatriation of profits as well.
Non – Government Organisations (NGOs) also known as Not for Profit Organisations can be registered either a Trust, a Society or a Company. Trust type of NGOs are registered under the provisions of Indian Trust Act, 1882 with the Office of Sub-Registrar having jurisdiction over the area, where principal office of trust shall be situated. Societies can be registered with the Registrar of Societies either under the Central law i.e. Indian Society Registration Act, 1860 or under the State Law of concerned state.
Section 8 Companies are incorporated under the provisions of Companies Act, 2013 and have a license issued by the Regional Director, Ministry of Corporate Affairs, Govt. of India under section 8 of the Companies Act, 2013 to promote commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any other similar object. Section 8 Company can have their area of operations all over India without any territorial limitation. In section 8 Companies, payment and distribution of dividends/excess profits to the promoters and shareholders of the company are prohibited by Company’s Memorandum and Articles of Association.
Any Individual aged 18 years or above or a Legal entity can incorporate a private limited company in India. In India, private limited companies are most popular form of business structure and therefore most obvious choice of most of the business organisations. In a private limited company, there can two shareholders and two directors and same persons be Director and Shareholder both.
EVEN wondered, British Virgin Islands (BVI), a country of 30,661 people only has more than 1 Million registered companies and even today Wealthy Business Owners and High Net-worth Individuals keep registering their off-shore companies in British Virgin Islands. There are approximately 30 registered companies per head of population in the British Virgin Islands, which is highest ratio in the world. The British Virgin Islands, or BVI in short, is a group of fifty islands in the Caribbean forming part of British Overseas Territory. It is often called as – land of sand, sea and secrecy.
The economy of British Virgin Islands is presently focused on financial services and tourism. More than 45% of off shore companies are incorporated in British Virgin Islands. Last year the Government of British Virgin Islands, presided over by a British Governor, collected $180 Million from company registration fee and license fee from off shore companies registered in BVI, which amount to more than 60% of total revenue of British Virgin Islands.
Every Indian company is required to comply with the provisions of Companies Act, 2013 and other regulatory laws and guidelines. In this note, we are discussing the post incorporation compliance requirements of an Indian Company.
If you want to do business in Indian and wish to incorporate a company in India, you need to decide various things such as how much money you need to start?, where your office shall be located?, Do you need any Co-founder?, How will be you fund your business operations etc.
The Republic of Singapore, is a sovereign city-state located in South-East Asia. It has total population of around 6 million people. Singapore has a highly developed market economy and has the world’s highest percentage of millionaires, with one out of every six households having at least one million US Dollars in disposable wealth.