Project office Registration - Overview
A foreign company who has a contract with Indian company may wants to establish a office here in India for smooth functioning of their business. The parent company to set up a office here in India needs to follow guidelines issued by RBI . Such office is called project office . Project office can only engage in activities under the project's scope undertaken by the parent company in India
Project Office Registration Online India can be done by submitting an application with the Category 1 AD Bank. Along with an application, the prerequisite set of documents must be submitted that includes the copy of the project agreement and a document stating that the project shall be funded from abroad or through an arrangement with the multilateral or bilateral international finance agency.
Investment Entry Routes in India
Reserve Bank Route
Government Route
Investment Entry Routes to set a Project Office in India
Formal Contact of the Project
Clearance of Project
Foreign Funding
Indian Funding
Documents Required For Registration
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Documents Submitted To The RBI
- Incorporation certificate
- Memorandum of Association & Article of Association attested by Indian Embassy/Notary Public in the Country of Registration
- Balance statement of the applicant company
- resolution by the foreign company ’s Board stating the intention behind establishing the project office in India
- Documentary proof that the Project Office is financially backed by the bilateral or multilateral International Financing Agencies OR the Indian Company has obtained term loan for the Project Office by the Financing Institution or Bank in India
- Residence Proof & copy of passport of the authorized person of the company
- A letter stating that the company will open an account in an Indian bank
- Permission from RBI to set up a project office in India
- MOA and AOA of the Foreign Company
- Notarized copy of Certificate of Incorporation
- attested copy of the power of attorney
- Complete information of Directors of the Company
- Complete KYC of the shareholders of the company holding more than 10% of share in the applicant Company
Process To Register
- Compliance of documents
- Filing Of Application With RBI Through AD Bank
- Verification Of KYC From The Banker Of Parent Company
- Approval Of RBI For Project Office Registration In India
- Registration Of Project Office Of Foreign Company With The ROC
- PAN Card, Tax Deduction Number, And Bank Account Opening
- Other Registration And Licenses
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