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Foreign cos to get easy entry into India

Foreign cos to get easy entry into India
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First Published: Thu, Nov 20 2008. 04 58 PM IST
Updated: Thu, Nov 20 2008. 04 58 PM IST
PTI
Jaipur: As it tries hard to attract investments in the face of the global economic slowdown, India today said it was relaxing documentation for foreigners to start a business in the country.
Foreign companies no longer need to get their documents certified at the Indian embassy or high commission in their respective countries and new rules would shortly come into place.
“New arrangement for certification and apostillisation under the Hague Convention is in place and will be announced soon”, Corporate Affairs Ministry Joint Secretary Jitesh Khosla said today.
Apostillisation is the legalisation of a document for international use under the terms of the 1961 Hague Convention. Firms based in countries other than India till now have to get their documents and articles certified and apostillised by the Indian Embassy of their country.
“Now they (foreign companies) don’t have to go to the Indian embassy for the purpose of certification of their articles ”, he said.
However, he did not give the detailed procedure of the new arrangement and said that it would be out in public within a weak.
The new idea to make the documentation easier or foreign companies is a consultative exercise between the companies and the Ministry of Corporate Affairs, he informed.
Documents which have been notarised by a notary public, and certain other documents, and then certified with a conformant apostille are accepted for legal use in all the nations that have signed the Hague Convention.
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First Published: Thu, Nov 20 2008. 04 58 PM IST