The Institute of Chartered Accountants of India (ICAI) released the Technical Guide on Incorporation of Foreign Companies in India.
The Government of India with its vision to reach a target of $ 5 trillion economy and take India’s economic growth to a much higher pedestal, has taken several landmark initiatives to attract more overseas capital inflow and enhance the Ease of Doing Business in India (EoDB).
One such step in this direction is to enable foreign companies to enter Indian market without any uncertainty associated with the procedures required to obtain regulatory clearances and in terms of the overall risk of starting business in India.
The Institute of Chartered Accountants of India (ICAI), as Partner in Nation Building, has always endeavoured to promote the government’s initiative by disseminating up to date knowledge and creating awareness amongst its members and stakeholders at large.
In this regard, the Institute of Chartered Accountants of India (ICAI) through its Corporate Laws & Corporate Governance Committee (CL&CGC) is bringing this “Technical Guide on Incorporation of Foreign Companies in India” to provide detailed guidance on the procedural aspects relating to incorporation of Foreign Companies in India.
“I appreciate the Corporate Laws & Corporate Governance Committee (CL&CGC) in bringing this publication which I hope will be very useful for our members. I extend my sincere appreciation to CA. Shriniwas Y. Joshi, Chairman, CA. Anuj Goyal, Vice-Chairman and other members of the Corporate Laws & Corporate Governance Committee to bring out this important publication. I am sure that the members and other interested readers would find the publication immensely useful,” the ICAI President, CA. Nihar N. Jambusaria said.
As per the guide, once a company has decided the legal form of structure of its business in India keeping in mind its needs and requirements, then the next step that is to be taken before initiating the procedural formalities of setting up its business is to know the prerequisites for such a type of business structure. In a way, these prerequisites are also a contributor in deciding the legal form of structure of the business to be set up.
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