• Starting an educational institution in Kenya as a company

Sir
Is it necessary to obtain approval from company registrar india to start a educational institution as a company in Kenya

Regards
Dr Subramonian
Asked 2 years ago in Business Law from Coimbatore, Tamil Nadu
1. Do you wish to set up the company as a resident individual? Permission of RBI would be required. The registrar of companies in India cannot incorporate a company outside India. 

2. Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 125,000 per financial year for any permissible current or capital account transaction or a combination of both. Under this Scheme, resident individuals can acquire and hold shares or debt instruments or any other assets including property outside India, without prior approval of the Reserve Bank. Individuals can also open, maintain and hold foreign currency accounts with banks outside India for carrying out transactions permitted under the Scheme.

3. The remittance facility under the Scheme is not available for the following

i) Remittance for any purpose specifically prohibited under Schedule-I (like purchase of lottery tickets/sweep stakes, proscribed magazines, etc.) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000;

ii) Remittance from India for margins or margin calls to overseas exchanges / overseas counterparty;

iii) Remittances for purchase of FCCBs issued by Indian companies in the overseas secondary market;

iv) Remittance for trading in foreign exchange abroad;

v) Remittances directly or indirectly to Bhutan, Nepal, Mauritius and Pakistan;

vi) Remittances directly or indirectly to countries identified by the Financial Action Task Force (FATF) as “non co-operative countries and territories”, from time to time; and

vii) Remittances directly or indirectly to those individuals and entities identified as posing significant risk of committing acts of terrorism as advised separately by the Reserve Bank to the banks.

4. So RBI does not permit setting up of companies abroad by resident individuals.
Ashish Davessar
Advocate, Jaipur
19628 Answers
507 Consultations
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To start or set up a company in India you do not need any permission from ROC , India.
Setting up of company in abroad is only guided by the local laws and regulations of the particular country which varies from state to state.
To run the company registered in foreign locations in no way requires permission of RCO,India.
Devajyoti Barman
Advocate, Kolkata
6916 Answers
78 Consultations
4.9 on 5.0
1) if you want to set up company in kenya you would need permission from registrar of companies kenya .

2) you dont   need permission from ROC india
Ajay Sethi
Advocate, Mumbai
27383 Answers
1488 Consultations
5.0 on 5.0
If this virtual online research university registered in india then you can induct students from any part of world.
Only if you set up class room in abroad then only it requires permission for which you need to set up a new entity as the current entity can not set up class room either in India or in abroad.
Devajyoti Barman
Advocate, Kolkata
6916 Answers
78 Consultations
4.9 on 5.0
1. For starting a company in kenya you shall have to take approval from the Registrar of Companies at Kenya,

2. For starting operation in foreign country by an indian conpany, permission from ROC in India is not required.
Krishna Kishore Ganguly
Advocate, Kolkata
13602 Answers
292 Consultations
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1. Yours will be virtual university to be operated on line and there will be no physical establishment to be set up at Kenya,

2. No RBI approval for the said operation is required.
Krishna Kishore Ganguly
Advocate, Kolkata
13602 Answers
292 Consultations
5.0 on 5.0
1. If this is going to be a virtual online university which has already been registered as a company in India then you do not need to form a company in Kenya to induct students therein. 

2. No permission from RBI or Registrar of Companies of India is required for an Indian company to operate online. Students can be inducted from any part of the world.
Ashish Davessar
Advocate, Jaipur
19628 Answers
507 Consultations
5.0 on 5.0
1. The jurisdiction of RBI and Registrar of Companies of India is coterminous with the territorial jurisdiction of India. None of these two institutions can allow a company to operate in a foreign land.

2. If you wish to set up a company in Kenya then permission will be required from Kenya's Registrar of Companies.
Ashish Davessar
Advocate, Jaipur
19628 Answers
507 Consultations
5.0 on 5.0
since you are establishing virtual online university you would not need approval of RBI or that of ROC 

2) you can admit students from any part of the world
Ajay Sethi
Advocate, Mumbai
27383 Answers
1488 Consultations
5.0 on 5.0
Dear Querist
There is no need for any approval from roc or rbi
Nadeem Qureshi
Advocate, New Delhi
3814 Answers
151 Consultations
4.9 on 5.0

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