Foreign Cos. Must Now File Form FC-1 With CRC Within 30 Days of Setting Up Business in India, Effective Sep 9, 2024
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- Last Updated on 14 August, 2024
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Notification No. G.S.R 491(E); Dated: 12.08.2024
The MCA has notified the Companies (Registration of Foreign Companies) (Amendment) Rules, 2024. An amendment has been made to Rule 3(3). A foreign company must now file Form FC-1 with the Registrar, Central Registration Centre (CRC), within 30 days of establishing its place of business in India.
Further, documents for registration by a foreign company must also be delivered in Form FC-1 to the Registrar, Central Registration Centre. These rules are effective from September 9, 2024.
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If a company incorporated outside India became parent company by investing in equity of Indian Investee Company, does the holding parent company can be called as a foreign company having place of business in India? And is the Form FC-1 and other FC eforms required to be filed in such a case.
Note: Parent Company holds 75% of equity in Indian investee company.