Opening Of Foriegn Branch by Indian company Pvt Ltd co.
This query is : Resolved
02 December 2009
Sub:- Opening Of Foriegn Branch by Indian Pvt Ltd co.
Pls. will Any1 help me?
I want 2 open a branch of my 'Indian company' outside India. So what r the Statuary Provisions to be fullfill,RBI Norms, Other Formalities, Etc...........
Firstly I am Worried Abt. Wht will be the of Authorized share capital for my company, Turnover Elibility, etc.
Specific Links & source for searching the topic will be Appreciated.
Thanks a lot
Pls. will Any1 help me?
I want 2 open a branch of my 'Indian company' outside India. So what r the Statuary Provisions to be fullfill,RBI Norms, Other Formalities, Etc...........
Firstly I am Worried Abt. Wht will be the of Authorized share capital for my company, Turnover Elibility, etc.
Specific Links & source for searching the topic will be Appreciated.
Thanks a lot
03 December 2009
Reserve Bank permits companies engaged in manufacturing and trading activities abroad to set up Branch Offices in India for the following purposes:
1. To represent the parent company/other foreign companies in various matters in India e.g. acting as buying/selling agents in India
2. To conduct research work in the area in which the parent company is engaged
3. To undertake export and import activities and trading on wholesale basis
4. To promote possible technical and financial collaborations between the Indian companies and overseas companies.
5. Rendering professional or consultancy services
6. Rendering services in Information technology and development of software in India
7. Rendering technical support to the products supplied by the parent/Group companies.
A branch office is not allowed to carry out manufacturing, processing activities directly/indirectly. A Branch Office is also not allowed to undertake Retail Trading activities of any nature in India. Branch Offices have to submit Activity Certificate from a Chartered Accountant on an annual basis to the Central Office of FED. For annual remittance of profit Branch Office may submit required documents to an authorised dealer.
Permission for setting up branch offices is granted by the Reserve Bank of India. Reserve Bank of India considers the track record of the Applicant Company, existing trade relations with India, the activity of the company proposing to set up office in India as well as the financial position of the company while scrutinising the application.
1. To represent the parent company/other foreign companies in various matters in India e.g. acting as buying/selling agents in India
2. To conduct research work in the area in which the parent company is engaged
3. To undertake export and import activities and trading on wholesale basis
4. To promote possible technical and financial collaborations between the Indian companies and overseas companies.
5. Rendering professional or consultancy services
6. Rendering services in Information technology and development of software in India
7. Rendering technical support to the products supplied by the parent/Group companies.
A branch office is not allowed to carry out manufacturing, processing activities directly/indirectly. A Branch Office is also not allowed to undertake Retail Trading activities of any nature in India. Branch Offices have to submit Activity Certificate from a Chartered Accountant on an annual basis to the Central Office of FED. For annual remittance of profit Branch Office may submit required documents to an authorised dealer.
Permission for setting up branch offices is granted by the Reserve Bank of India. Reserve Bank of India considers the track record of the Applicant Company, existing trade relations with India, the activity of the company proposing to set up office in India as well as the financial position of the company while scrutinising the application.
07 December 2009
Thanxs mitesh
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- LC charges in relation to Asset purchased should be Capitalised ?
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Regarding TDS Applicability For Director Remuneration
- Multiple trade mark
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
