Liaison office
This query is : Resolved
06 May 2008
What do we mean by Liaison office set up In India.Explain in detailed manner with example.
06 May 2008
Liaison Office im simple words is a branch. It is an office of a foreign comapny which is in Inida but does not carry on any ways of making profit or any kind of business(trading). It is like advertisement of the foreign company in India .
Hope your doubt is clear now...
Hope your doubt is clear now...
06 May 2008
Liason office is representative office of the foreign company, wherein the foreign company can display its goods or services, promote its trade by advertisements, providing information, taking orders, etc. The only condition imposed by the Central Gvoernment is that such office shall not carry on any activity which generates income. It cannot sell the goods directly to customers in India, it can only tell the customers the mode og getting the goods, organise booking, payment and delivery of the goods.
The Foreign company will need to file a form in FNC-1 to the Reserve bank of India for the permission to open a LO, and further file returns in the prescribed manner which disclose to RBI that no profitable activity is conducted.
The Foreign company will need to file a form in FNC-1 to the Reserve bank of India for the permission to open a LO, and further file returns in the prescribed manner which disclose to RBI that no profitable activity is conducted.
06 May 2008
Admin this is an example. the questions are already solved by two ppl but it keeps popping up again and again.
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