Residency requirement clarified to count extended stays; declarations replace affidavits in incorporation filings. Defines 'resident in India' as a person who stayed in India for not less than one hundred and eighty two days in the immediately preceding financial year and for 2018-2019 counts stays from the first of January until notification; substitutes a requirement that each subscriber to the memorandum and each first director submit a declaration in Form INC-9; replaces the word 'Affidavit' with 'Declaration' in Form INC-9; and amends the List of Attachments in Form INC-32 (SPICe) to require declaration by first subscribers and directors.
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Residency requirement clarified to count extended stays; declarations replace affidavits in incorporation filings.
Defines "resident in India" as a person who stayed in India for not less than one hundred and eighty two days in the immediately preceding financial year and for 2018-2019 counts stays from the first of January until notification; substitutes a requirement that each subscriber to the memorandum and each first director submit a declaration in Form INC-9; replaces the word "Affidavit" with "Declaration" in Form INC-9; and amends the List of Attachments in Form INC-32 (SPICe) to require declaration by first subscribers and directors.
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