RESIDENT DIRECTOR SERVICES
Resident Director Services typically involve providing the expertise and credentials of a local director to meet the legal requirements of company registration and compliance
- Compliance: Indian laws require companies to have at least one local resident director as part of their legal registration and ongoing compliance obligations. This is often mandated by company law or regulations to ensure the company has a physical representative in the country.
- Legal Responsibilities: Resident Directors, whether they are full-fledged directors or nominee directors, have certain legal responsibilities and fiduciary duties to the company, its shareholders, and stakeholders.
- Temporary Arrangements: Resident Director Services can be valuable for foreign companies setting up branches, subsidiaries, or representative offices in India, especially if they do not have suitable candidates for the director position internally or if they need time to find a permanent local director.
- Local Expertise: Having a Resident Director who is familiar with the local business environment, regulations, and customs can be beneficial for the company’s operations and understanding the local market.Termination and Transition: In cases where a company finds a permanent local director, the Resident Director Services may be transitioned accordingly.
