Readymade companies

• Complete particulars of Indian company including the memorandum and articles of association, Copy of Permanent Account Number (PAN) etc.
• List if Shareholders of Indian Company along with number and % of shares held.
• The Indian Share Holders shall pay the amount of subscription of share capital by way of Cheque/Banker's Cheque to Indian Company.
• The new share holders shall remit a sum equal to the paid up value of share capital to the banking accounts to the Indian Share Holders as purchase consideration.
• The board of directors in their meeting approved the share transfer.
• After the receipt of funds and intimation shall be field to Reserve Bank of India regarding transfer of shares shall be Foreign National/Foreign Entity through the Authorized Dealer (Bankers of the Company).

  Following are the requirements for the same:-

  • Completer particulars of the new share holders and their % of proposed holding (copy of pass port in case of individual and incorporation documents in case of any legal entity).
  • Form FC-TRS
  • Valuation certification from a practicing chartered accountant.
  • Share holding pattern in the letter head of the Company.
  • Copy of Board Resolution
  • Copy of share transfer deed
  • Undertaking regarding the compliance under FEMA.
  • Consent for transfer of shares under FEMA
  • Copy of share transfer agreement
  • Copy of Foreign Inward Remittance Certificate (FIRC) evidencing the receipt of the funds.
  • In case if there is any nominee Particulars of a person who will hold minimum one share on behalf of Foreign Holding Company as nominee
  share holder of Foreign Company.(In India minimum two share holders required to form and run a private limited company)
  • Complete particulars of the person including copy of the passport who sign the documents on behalf of the Foreign Company.
• Filling of Declaration (Form No.1, Form No.II & Form No. III) to the Registrar of Companies under the provisions of Companies ACT, in case if any nominees share holders is involved in the transaction.

• The first step is appointment of minimum two new directors in place of the existing directors, for the same particulars of two persons having valid Director Identification Number (DIN) are required to replace the existing Director of the Company. The existing director shall file the required Form No. 32 after the approval of the Board of directors, to intimating the appointment of new directors.
• The existing directors shall put their resignation and after the approval of the Board of Directors, the new directors shall file the required form No.32 using their Digital Signature (DSC). For this process, on of the New Director should have a DSC.

Documentation and requirements:-

• Resignation Letter of the Existing the Directors
• DSC and DIN of the new directors
• Physical Presence of Both the New Directors in a place either in India or abroad to form the quorum of board meeting.

It is mandatory to obtain digital signature by any one of the Proposed Director for digitally signing the documents to be filed with the Registrar of Companies online. For obtaining the digital signature the following documents required:-

Alternative -1, when the Director is physically present in India

• Application for DSC
• One photograph affixed on the DIN Form duly signed across by the applicant.
• Copy of passport (Identity Proof) showing name, father's name, date of birth etc. duly attested by a Chartered Accountant Notary Public, in India.
• Residence Proof duly attested by Chartered Accountant and Notary public, in India.
• Copy of passport showing date of entry to India and stamp of immigration authorities at the Indian Airport.

Alternative -2, when the Director is not physically present in India.

• i. Application for DSC
• One photograph (Identity Proof)affixed on the DIN Form duly attested by a Notary Public from the Country where the Director is presently staying
• Copy of passport showing name, father's name , date of birth etc. attested by a Notary Public from the Country where the Director is presently staying
• Residence Proof duly attested by a Notary Public form the Country where the Director is presently staying

It is mandatory for nay person proposed to become the Director of a company having a valid din. Following are the documents required:-

Alternative -1, when the Director is physically present in India

• Undertaking signed by the Director
• Photograph of the Director
• Copy of passport (Identity Proof) showing name, father's name, date of birth etc. duly attested by a Chartered Accountant.
• Residence Proof duly attested by Chartered Accountant.
• Copy of passport showing date of entry to India and stamp of immigration authorities at the Indian Airport.

Alternative -2, when the Director is not physically present in India.

• Undertaking signed by the Director
• Photograph of the Director
• Copy of passport showing name, father's name, date of birth etc. attested by a Notary Public from the Country where the Director is presently staying
• Residence Proof duly attested by a Notary Public form the Country where the Director is presently staying