67. Setup Public or Private Limited Company in India
Q. Hi Mr. Chand,I would like to know what kind of restrictions apply to PIO card holders for opening a Private Limited or Public limited company in India. Would appreciate any guidance. Thanks. Regards Vinita A. Companies incorporated in India as well as branches of foreign corporations are regulated by the Companies Act 1956. PIO/OCI holders are usually treated at par as Indian nationals. For registration and incorporation as an Indian company an application has to be filed with the Registrar of Companies. Once the company is duly registered and incorporated as an Indian company, it will be subject to the same Indian laws and regulations that are applicable to other Indian companies operating in India. As far as restrictions are concerned it would depend on the type of company you setup, whether you intend on living in India or hold a directors post as an NRI, whether repatriation of funds is a concern etc. Such matters are beyond the scope of this column and I suggest you seek guidance from a qualified business lawyer or accountant. They could guide you as to the most appropriate form of company setup and let you know the pro and cons of various options so you can make an informed decision.
NRI - OCI - PIO Guide & Information
67. Setup Public or Private Limited
Company in India
Q. Hi Mr. Chand,I would like to know what kind of restrictions apply to PIO card holders for opening a Private Limited or Public limited company in India. Would appreciate any guidance. Thanks. Regards Vinita A. Companies incorporated in India as well as branches of foreign corporations are regulated by the Companies Act 1956. PIO/OCI holders are usually treated at par as Indian nationals. For registration and incorporation as an Indian company an application has to be filed with the Registrar of Companies. Once the company is duly registered and incorporated as an Indian company, it will be subject to the same Indian laws and regulations that are applicable to other Indian companies operating in India. As far as restrictions are concerned it would depend on the type of company you setup, whether you intend on living in India or hold a directors post as an NRI, whether repatriation of funds is a concern etc. Such matters are beyond the scope of this column and I suggest you seek guidance from a qualified business lawyer or accountant. They could guide you as to the most appropriate form of company setup and let you know the pro and cons of various options so you can make an informed decision.
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