ANNUAL COMPLIANCES THAT FOREIGN COMPANY MUST COMPLY THROUGHOUT THE YEAR
What is a Foreign Company?
Foreign Company means any company or a corporate body incorporated outside India which has its place of business in India whether by itself or through an agent/physically/through electronic mode
A Foreign Company can start its business through 3 modes:
Strategies to be followed by a foreign company to start a business in India:
Documents that need to be filled with the registrar of the company by foreign companies are:
1. ACCOUNTS NEED TO BE PREPARED BY FOREIGN COMPANY:
According to section 381 In, Accordance with Indian Law every Foreign Company is required to prepare the financial statements and should file it within a period of 6 months from the end of every financial year.
The documents must be in the English language. The accounts to be audited by a Practicing CA firm. The Foreign Company is also required to file the financial statement with a list of places of its business only in Form FC-3. The same is to be filed along with the statutory fees.
2. DETAILS OF FOREIGN COMPANIES TO BE FURNISHED:
According to section 182, It is mandatory for the Foreign Company to display its name and other details as provided under the Act exhibit outside its office, on its business communication. The letter of the name must be clear.
3. SERVICE ON FOREIGN COMPANY:
According to the section, any notice or document is served to the Foreign Company it must be clearly addressed and the name of the person to which it is addressed must be written.
4. ANNUAL FILING:
The annual return is to be filed by the Foreign Company in Form FC-4 within 60 days from the end day of the financial year to the Registrar of Companies.
There are other Compliances to also be complied by the foreign company.
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