Open a branch office in india

This query is : Resolved

Report Abuse Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

27 November 2014 Rules,articles &
low of How to open a branch in India by a foreign Company?

prathiba

prathiba (Expert)
Follow

27 November 2014 Hi, inorder to open a branch office by a foreign company in India, the following to be noted.

RBI Regulations:
Form FNC has to be submitted to RBI.Further, the foreign entity must have a profit making track record during the immediate preceding 5 financial years in the home country.It should also have a networth of 1 Lac USD or its equivalent. Permission is initially granted by RBI for a period of 3 years which may be extended from time to time.RBI will allot Unique Identification Number to the BO. Further, it should also obtain PAN from Income Tax Dept.BO should submit Annual Activity Certificate with RBI.

Companies Act, 2013:
Every foreign entity shall within 30 days of establishment of place of business in India, deliver to the Registration, a certified copy of the charter/incorporation document(by whatever name called) alongwith further details about the registered office of the company, the directors, Authorised Representive in India etc; Any changes to any documents delivered to ROC shall by intimated by the BO within 30 days.