Section 149 (3) of the Companies Act, 2013 has provided for the residence of a director in India (Resident Director in India) as a compulsory i.e. every company shall have at least one director who has stayed in India for a total period of not less than 182 days in the previous calendar year.
So if you are Incorporating a new company that has all the Directors who is not Indian Residents, you need to hire one Indian Resident Director.
Duties and Responsibilities of Resident Director in India
- Resident Director will be fully responsible as Normal Director of the Company,
- Resident Director will not be involved in operational control of the company.
- Resident Director will be appointment to fulfill the statutory requirements.
- Directorship will be covered under the officers and liability insurance.
- Resident Director will participate in Board Meetings of the Company, wherever required
- Circular or other Resolutions will be approved or disapproved as par Individual Understanding.
- Resident Director will be from our team only.
