It has to adhere to all the procedural formalities during the project office registration process. RBI guidelines and Companies Act, 2013 has made it mandatory for a foreign company to acquire the registration certificate with the Registrar of Companies (ROC) if the foreign company wants to establish a project office in India. However, before establishing a project office in India, the foreign company must first secure a contract with an Indian company. The Reserve Bank of India has the authority to approve a foreign company’s project office in India. They have made the organization proud and an organization I would be very comfortable recommending to anyone.The registration process for Project office registration is executed as per the guidelines mentioned under section 6(6) of the Foreign Exchange Management Act 1999. "I am writing this note to you for a couple of reasons:ġ - Thanks to your team for the PAN card which was processed and received by me last week.Ģ - More importantly I also want to let you know that your team impressed me beyond measure on the whole process.įor starters, I did not know about your organization at all…What really impressed me about the PAN team were how well the process was handled from start to finish.Kudos to your company for the culture that encourages such professionalism" If people like you are the face of India's future, we have a lot to be optimistic about. Your employer must be really proud of you. But, I am yet to come across someone who has all of these together at levels that you have displayed. In my career of 20+ years, I have met people who are more organized that you are, more diligent in follow up, more customer oriented and innovative. “I would like to thank you for your hard work and perseverance through the different stages of the work.This was duly appreciated and was very useful.” “We thank you for the prompt service provided by you and your team.I thank you and all who made continuous efforts in pursuing my case. “Congratulations to you all for crossing a big hurdle.Once again thank youĪ lot for informing, actually never done this before, so good to have all the Think last year you did a great job with my Tax work. In conformity with the General / Specific permission given by theīless you for happiness and prosperity. Of the PO has been audited and the activities undertaken are The AD branch on an annual basis, a Certificate from a CharteredĪccountant showing the Project Status and certifying that the accounts Report shall be forwarded through the AD branch to the Regional OfficeĬoncerned of the Reserve Bank of India within 2 months of establishment
An undertaking to the effect that the PO is eligible to avail of the General Permission showing the reason thereof. AD branch with whom the account has been opened and the foreign currency in which the account is opened, Address / e-mail address / telephone number / fax number of the PO,į.
Reference Number and date of letter awarding the contract,ĭ. Name and address of the Foreign Company,ī. Through the concerned AD branch, to RBI incorporating the followingĪ. Annual Reporting to DGP along with a copy of the annual certificateĬompany establishing a PO in India is to furnish report.Hong Kong or Macau can establish in India, a PO in India. Registered in Pakistan, Bangladesh, Sri Lanka, Afghanistan, Iran, China, Prior permission of the Reserve Bank, no person being a citizen of / Such entities are required to apply to RBIįor prior permission to establish an office in India. Up of PO by foreign NGO / NPO / Foreign Government Bodies / Departments are However, if the above criteria’s are not met, the foreign entity has to approach the RBI, Central Office, for approval. a company or entity in India awarding the contract has been granted Term Loan by a PFI or a Bank in India for the project.the project has been cleared by an appropriate authority or.the project is funded by a bilateral or multilateral International Financing Agency or.the project is funded directly by inward remittance from abroad or.POs in India, provided they have secured a contract from an IndianĬompany to execute a project in India, and Project for which such office is established.īank has granted general permission to foreign companies to establish Such offices are prohibited from undertaking or carrying on anyĪctivity other than the activity relating to the execution of the Represent the interests of a foreign company executing a project in A Project Office (PO) means a place of business established to
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