An Introduction to KYC Services for Indian Based Directorships

 

After the amendment done by the Ministry of Corporate Affairs in the Financial Year 2018-19, all Directors of India who have a unique Director Identification Number (DIN) need to submit their KYC details annually by filling the DIR-3 KYC form, for the first time. Prior to that, DIN was filled manually. The Ministry of Corporate Affairs has adopted such steps, to ensure the safety of the data and eliminate any manipulation in private sectors of the country. In the era of digitization, it is a significant step to ensure transparency in the system.            

Director Identification Number (DIN) can be obtained once, and it will remain valid for being the Director in more than one company. According to the updated law, any person who has already applied for the DIN number, he/she only needs to complete KYC via simple web verification services, having prefilled data on records in Registry. MCA has introduced this system to keep MCA updated with unique mobile numbers and email id of the DIN holders. In Case, if there are any changes in mobile number or email ID, then the DIN holder to file e-form DIR-3 KYC also, DIR-6 for updating of change in particulars.             

Documents Required to File Director KYC:

·         Nationality and citizenship proof of a person like gender and date of birth.

·         Permanent Account Number (PAN)

·         Voters Identity card

·         Passport (required if a NRI is holding a DIN)

·         Driving License

·         Aadhaar card

·         Personal mobile number and email address.

·         Residential Address.

The process of KYC filling is daunting and time-consuming, in such scenario it is advisable to hire a professional legal firm to ensure hassle-free and impeccable work. Corporate lawyers of professional legal firms work efficiently, display sincerity in their work; thereby clients also remain satisfied. Significantly, the services charges KYC services are also affordable in all legal services offered from professional legal firm.

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