Setting up of liaison office

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cool12341 (Querist)
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27 November 2007 Dear Sir,

What is the procedure for setting up liaision office of a non-resident INDIVIDUAL? Specifically:

a)Being individual, the person does not have audited balance sheet or memorandum of association?

b) What is the format of letter of authorised signatory? Where and for how much should it be stamped?

c) It there any letter to be given by the individual to RBI? If so, format of the letter.

Reg

c)

R.V.RAO

R.V.RAO (Expert)
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27 November 2007 I REPRODUCE FROM WEBLINK
http://siadipp.nic.in/policy/entry.htm
THE BELOW CONTENT ON LIAISON OFFICE .

Liaison Office/Representative Office Liaison office acts as a channel of communication between the principal place of business or head office and entities in India.
Liaison office can not undertake any commercial activity directly or indirectly and can not, therefore, earn any income in India. Its role is limited to collecting information about possible market opportunities and providing information about the company and its products to prospective Indian customers. It can promote export/import from/to India and also facilitate technical/financial collaboration between parent company and companies in India.
Approval for establishing a liaison office in India is granted by Reserve Bank of India (RBI).
Application for setting up Liaison Office/ Project Office/ Branch Office may be submitted in form FNC 1 (available at RBI website at www.rbi.org.in )
Chief General Manager,
Reserve Bank of India,
Foreign Investment and Technology Transfer Division,
Exchange Control Department,
Shaheed Bhagat Singh Road,
Mumbai – 400001.
Tel.:+ 91-22-2266 1603
Fax + 91-22-2266 5330

USEFUL ADDRESSES
Department of Industrial Policy and Promotion
Joint Secretary
Secretariat for Industrial Assistance (SIA)Ministry of commerce & Industry
Udyog Bhavan, New Delhi-110 011 ,INDIA
Tel.: +91-11-23011983
Fax : +91-11-23011034
E-mail: sia_dipp@ub.nic.in
Website: http://dipp.nic.in
Reserve Bank of India (RBI)
Foreign Investment Division,Shaheed Bhagat Singh Road, Mumbai-400 001, INDIA
Tel.: + 91-22-2266 1603
Fax : + 91-22-2266 5330
Web site: http://www:rbi.org.in
AS PER PROFORMA IN THE FORM CITED ABOVE YOU NEED TO APPLY WITH ALL DETAILS.
R.V.RAO

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