Each and every firm has to have a certain number of directors in a Company in order to constitute the Board of the Firm. This has to be done as per the provisions of ComPANies Act, 2013. There are different criteria set for the different forms of organizations for having the minimum number of Directors within it. A foreigner or an Indian can both become an executive or non-executive director of either public or private Indian organizations.
The following are the documents that are required for the filing of the application of the appointment of the foreign director.
Proof of identity;
Proof of residence;
Copy of Resolution informing of the Proposal to appoint Director Inclusive of Foreign National
Also, the FORM DIR 3b has to be filled to the Central Government in case any person, either Indian or Foreigner, whoever wants to file application b for the DIN.
Fees for application
As specified by the rules and regulations, the applicant has to submit a mandatory and feasible amount of Rs. 500 along with the application.
Guidelines to be kept in mind
The following are the guidelines that must be kept in mind while you are applying for being the foreign director. The candidate must fulfill these criteria as listed below:
Every person even if is a foreign national, has to have a DIN or the Director Identification Number before appointed as a director;
Every person even if is a foreign national, wants to be appointed as the Director has to provide his DIN and has to declare that he is qualified to become a Director under this Act.
Every person even if is a foreign national, who has been appointed as the Director cannot act as one unless the person gives written consent in FORM DIR 2. This consent has to be filed within 30 days of appointment with the Registrar.