As soon as your company gets incorporated, you will receive Certificate of Incorporation, PAN, TAN, Shop & Establishment License, GST Certificate, PT Enrolment and Registration Certificate, Import & Export License depending upon what all Licenses are applicable for your company.
This is the proof that all requirements relevant to registration of the company are complied with.
The compliance requirements may vary depending the laws which govern your company, a few are listed below.
After your company gets incorporated, within 30 days, the first board meeting of the Company is required to be held to appoint First Auditor and must be a Practising Chartered Accountant.
Your Company must conduct a minimum of 4 board meetings during the calendar year, and the gap between two consecutive board meetings must not be no longer than 120 days. The minutes of such meeting must be kept at the registered office of your company.
Board meeting can also be held through video conferencing and such recording shall be kept at the registered office of the company.
P.S. There must be one board meeting held after the close of the financial year to approve and sign the financial statements. This meeting requires at least 2 directors physically present to be able to sign the financials.This meeting cannot be held through video conferencing.
P.S. Your Company must have at least one director who has stayed in India for a total period of more than 182 days in the previous calendar year.
All Companies must get their Financial Statements audited by a practising chartered accountant.
The Annual General meeting of your company must be held after the financial statements are approved and signed by the Board and Auditor. At least 2 shareholders must physically be present in the AGM. Hence the foreign shareholders are required to visit India at least once in a financial year to be present in the AGM.
After your Company financial statements is finalized and approved by the shareholders in the AGM, the same needs to be filed with the Ministry of Corporate Affairs (MCA) in form AOC-4 and MGT-7.
GST Registration is mandatory only if your company fulfils any of the following conditions
All companies receiving foreign investment should report such foreign investment received by it to the Reserve Bank of India (RBI). Such reporting should be done within 30 days from the date of receipt of funds.
All companies which has received investment must also file Annual Return on Foreign Liabilities and Assets with the RBI on or before 15th July every year.