Residential Director is a director who has stayed in India for a total period of not less than 182 days in the previous calendar year. It will be mandatory for the resident director to have a local address in the country and to be currently living in the country.

As per the Companies Act, 2013, every company shall have at least one residential director failing which the company and every officer shall be punishable with fine of not less than Rs.50,000/- but which may extend upto Rs.5,00,000/-. Wholly owned subsidiary companies with only foreign directors are mainly impacted by this provision of Companies Act, 2013.

We can help by providing following services:

• In case you find difficulty in finding a resident director, we shall appoint one of our team members as the nominee director in your company.
• Having us as the professional, passive nominee director increases the probability of timely corporate bank account approval, specific government licenses, etc.
• Our professional, passive resident director appointee will neither be a corporate bank account signatory nor play an active role in our client’s business. Our officers will merely be the resident director of the company in order to fulfill the local statutory requirements.
• Our client will solely be responsible for daily business activities and for corporate bank account activity.
• Nominee Director will sign all the key corporate documents which are obligatory to be signed by the Director to comply with the Law of Land.
• We and our client will sign a legal contract outlining terms and conditions and limitations of the resident director appointment.