Easy and hassle free project office registration at numbro

Represent the interest of foreign company in India for executing a project by establishing a project office

Execute your project in india conveiniently without any fuss by establishing project office only with numbro

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    PROJECT OFFICE

    A foreign company is permitted to establish a project office in India either on a permanent basis or on a temporary basis. This can be done only if the foreign company has secured a contract from an Indian company to execute a project in India.

    But before a project office begins its operations in India, it is mandatory for a project office to get registration done with Reserve Bank of India (RBI) and Registrar of Companies (ROC).

    FEMA DEFINES PROJECT OFFICE AS :

    ‘Project Office’ means a place of business to represent the interests of the foreign company executing a project in India but excludes a Liaison Office.

    FAQ's

    What is a Private Limited company?

    A legal form of business that offers limited liability, or legal protection for its shareholders but it also places certain restrictions on its ownership. These restrictions are defined in the company’s bylaws or regulations.

    Who is a director & how is he different from a shareholder?

    Director is an appointed or elected member of the board of directors of a company, who, with other directors, has the responsibility for determining and implementing company’s policies. Directors act on the basis of resolutions made in directors’ meetings. Directors derive their powers from the corporate legislations and the company’s articles of association. The Duties and responsibilities for directors are prescribed under the Companies Act 2013.

    What is DSC?

    Digital Signature Certificate (DSC) is a secured electronic format of signature which is used for signing electronic & online documents, forms for e-tenders, ROC requirements, IT & PF returns, etc.

    What is DIN?

    DIN stands for Director Identification Number which is unique and is issued on request of the ROC to every person who intends to become a director. DIN is mandatory for a person to be appointed as Director.

    What is Memorandum of Association (MOA)?

    A Charter document that regulates a company’s external activities. The memorandum of association is drafted with the information relating to the company’s name, names of all members (shareholders) and number of shares held by them, and location of its registered office. It also states the company’s

    • Objectives,
    • Amount of authorized share capital
    • Whether liability of its members is limited by shares or by guaranty, and
    • What type of contracts the company is allowed to enter into.
    • A Company cannot do any act which is beyond the Memorandum of Association.

    What is Articles of Association (AOA)?

    The Articles of Association is a well-defined and clearly recorded document that defines duties and responsibilities of its Directors. The Directors shall function according to the Rights entrusted with them as per the AOA, and cannot carry out any activity beyond the AOA.

    What are the yearly compliances with respect to Income Tax, Service Tax and VAT?

    Income Tax: A Private Limited Company has to pay an advance tax on quarterly basis if the tax liability payable during the year is more than INR 10,000 and has to file income tax return on a yearly basis.
    Goods & Services Tax (G.S.T): If the Private Limited Company taxable turnover exceeds

    Rs.20, 00,000 it is liable to be registered under G.S.T and compliances applicable to GST Act have to be complied with.

    How many directors are required in a Private Limited company?

    There must be a minimum of two Directors and a maximum of fifteen Directors in private Limited Company. However, one can expand beyond fifteen directors by following certain procedures prescribed under the act.

    What is Certificate of incorporation?

    A signed statement by the Registrar of Companies declaring that a company is duly incorporated under the respective statutes. It is an exclusive evidence that the company has been formally incorporated and complying with all the procedures prescribed under the act.

    What is share capital and what is the minimum share capital for starting a Private Limited company?

    The minimum paid-up share capital requirement was INR 100,000 in case of a private company and INR 500,000 in case of a public company as per CA 2013. However, no minimum paid-up capital requirements will now apply for incorporating private as well as public companies in India.

    Which form of business can be converted into private limited company?

    Any form of Business such as sole proprietorship, partnership, Public Limited, OPC and except LLP can be converted into a Private Limited company.

    Who can start a Private Limited company?

    Individuals/corporate bodies /partnership firms who have an innovative idea, who look for a unique name, who look for raising funds from investors and who want to be transparent in doing the business can opt for a Private Limited Company. There must be at least two directors who are individuals and not corporate bodies or partnership firms.

    Can an NRI start a Private Limited Company in India?

    A Company cannot be formed with all Non-resident directors. Hence, at least one director should be an Indian national.

    What are the yearly compliances with respect to ROC (companies act)?

    The procedural Aspects Varies according to the size and volume of the business. The following are the basic documentation needed to be arranged and filed annually.

    • Conducting Board & Annual General Meetings
    • Preparation of Minutes of the Meetings
    • Filing of Returns with ROC.

    I reside outside Hyderabad/Telangana can I get services from you?

    Absolutely you can avail our services from anywhere within/outside India. As most of the procedural aspects are Online, the experienced team at Numbro will guide in all the procedural aspects of getting the company Registered.

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