Globex Holdings Setting Up: Business Presence in India | Page 3

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WHOLLY OWNED
JOINT VENTURE
LIAISON
PROJECT
BRANCH
SUBSIDIARY
COMPANY
OFFICE
OFFICE
OFFICE
SET-UP
FIPB approval /
FIPB approval /
Prior
Automatic
Prior
REQUIREMENTS
automatic
automatic
approval
route / Prior
approval
route
route
from RBI
approval
from RBI
from RBI
Indian Office
Indian Office
Indian Office
Indian Office
Indian Office
Address
Address
Address
Address
Address
Appoint
Appoint
Intimate RoC
Intimate RoC
Intimate RoC
Directors
Directors
Filing of incorporation documents
Issue shares to parent
Filing of incorporation documents
Issue of fresh shares
ON-GOING LEGAL Maintain books of accounts & OBLIGATIONS secretarial records
Register changes to constitution / directors / shareholders
Annual Audit Annual return to RoC , I-T
Maintain books of accounts
Annual Audit
Annual return to RBI , RoC , I-T
Annual accounts of parent company to be filed
CLOSURE
Application to RoC /
Application to RBI
legal process
' No Objection Certificate ' from I-T
* FIPB - Foreign Investment Promotion Board * RBI - Reserve Bank of India * I-T - Income Tax Authorities * RoC - Registrar of Companies