Details On Registering A Private Limited Company In India - CiteHR
Sbalaji
Corporate Counsel
Shyampc
Internet
Samtaurus
Digital Marketer

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Hello,

I would like to know a few details on registering a Private limited company in India (Joint Venture or Subsidiary company).

1. I want to start a company connected to irrigation of lands, desalination plants, etc.

2. I will have to receive foreign funds into my company account from another foreign company.

3. I will have to pay profit share to the funding foreign company.

4. I want this company to be an Indian company (independent) but should have the above criterias met.

Which type of company registration will be best suited for my needs?

What should I include in Memorandum of Articles to do such business?

Can I register it as a company in India and then receive foreign funds for operation?

Can I amend any of the clauses in future to attract funds, and do business - then paying the funding company their profit share (or consultancy charges, etc).

I would also like to know the exact procedures to be followed in registration process ( whether Digital signature is needed, What documents of proof I should submit for each process, etc).

I wish to know the cost and no. of days required for the whole process if you do this service for me.

Please advice.

You could start the company as a private limited company. There are two charter documents required for incorporation:
1. Memorandum of Association: contains details of Name of the company, capital, location (which State the company would the registered office be located), subscribers (the initial shareholders forming the company) and importantly the Object clause which captures the details for which the company is being formed. Any of these clauses can be changed following the guidelines set under the Companies Act.
2. The Articles of Association is more an internal guiding by-law. As in, it details how a board meeting, shareholder meeting, share transfers are held / done.
3. Since the filings at the Registrar of companies are done electronically, you will need a digital signature.
4. You can receive foreign investment. The sectors in which investments are allowed and the percentage of investment allowed is subject to guidelines and may fall either under Dept of Industrial promotion or under RBI/FEMA.
The incorporation process is not designed to be a do-it-yourself kit. Suggest, you take professional help of company secretaries or chartered accountants. The incorporation would approx. take about 3-4 weeks time.

Sharda
Novo Juris - Your Legal Team providing services like compliance check, contract check and more

Hi Sbalaji,
Thank you for the response. It is really helpful.
Is projects related to irrigating lands, desalination plants, construction of dams,etc come under restricted items for receiving foreign money? Can you give me a detailed list of restricted items or a link to some web page that lists all the items? I searched for this, but not all are included.
Thanks,
Shyam

Hi you can register the company as a Private Limited Company to accomplish the things you want to do above. A private limited company would allow you to conduct any lawful business and also receive foreign funds for equity partnership in the company.

Yes, you can register the new private limited company with yourself and then receive the foreign funds through proper banking channels. Once, you receive the funds you are supposed to report to RBI within 30 days.

Your MOA just has to state the type of business you are planning to do and shouldn't have any specific restrictions against receiving foreign funds, then you should be fine.

To register a private limited company in India, you can visit <link outdated-removed> ( Search On Cite | Search On Google ) . They help with company incorporation process, also to know more about getting foreign funds into the company, you can refer to this article on indiafilings learning center detailing steps for receiving foreign funding. Good luck!

Hi,
you can Register your company as a joint venture/ partnership firm with minimum two partners i.e, you and a partner , and the maximum number of members up to 20.
for registering your company in India visit : http://accounts.total-sols.com/registrations_acc/
Good Luck..!

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