Local Resident Director
Local resident director services involve the appointment of a resident director who is a legal resident of the country in which the foreign company wishes to establish its presence.
Local Resident Director Services are a crucial component of international business operations, especially in jurisdictions where foreign companies are required to have a local representative or director.
The requirement for a resident director, as stipulated in Section 149(3) of the Companies Act, 2013, serves as a means of ensuring local representation. In India, this requirement doesn’t hinge on the nationality of the individual but rather on their eligibility based on their duration of stay in the country.
Even foreign nationals who have resided in India for a specific period, which is 182 days during the financial year, can be appointed as resident directors. There are a host of benefits to appointing a Local Resident Director such as saving considerable overhead costs, possessing relevant knowledge of local regulations to stay compliant, and navigating the language barrier, amongst various other benefits.