- Pune, MH 411057
- legal@complyhappy.com
- 7303939018
BRANCH office is set up by a foreign company in India to carry out the Branch activity for its business. The foreign company can have any earnings from the Indian Branch office only from the activity allowed by the Reserve Bank of India; It has to meet all its expenses of the Indian office through remittances from the Head office or through the revenue generated from the Indian operation permitted by the Reserve Bank of India.
Foreign companies are allowed to set up a branch office in India. But unlike the case of setting up a company, a branch office requires approval from the Reserve Bank of India (RBI).
Companies incorporated outside India and engaged in manufacturing or trading activities are allowed to set up Branch Offices in India and undertake the following activities in India;
Companies incorporated outside India are prohibited from doing the following activities through branch offices in India which are following
Approval from RBI– Permission for setting up branch offices is granted by the Foreign Exchange Department, Reserve Bank of India, Central Office, Mumbai.
Track Record of the company -Reserve Bank of India considers the track record of the applicant company, the activity of the company proposing to set up an office in India as well as the financial position of the company while evaluating the application.
The applications from such entities in Form FNC (Annex-1) will be considered by the Reserve Bank under two routes: The application in the prescribed form (Form FNC)should be submitted to the RBI through the Authorized Dealer bank.
Procedure for Approval from RBI:
Procedure after Getting RBI Approval
Every BRANCH office registered with RBI shall get itself registered with the Ministry of Corporate Affairs; it is a registration by the BRANCH office as an establishment of a foreign company in India. On such registration, a CIN i.e. Corporate Identity Number is allotted by the Registrar of Companies.
The following documents shall be filed with the Registrar of Companies:-
Form FC-1
Charter, statutes or memorandum and articles of association or other Instrument constituting or defining the constitution of the company
If the above documents are not in English then the translated version of the documents.
Our main aim is to help those entrepreneurs and businessmen’s legal and regulatory requirements, and be a partner throughout the business lifecycle, offering support at every stage to ensure the business remains compliant and continually growing.
Upto 100%
Expert team
To reach your target
Clients satisfaction
legal@complyhappy.com
+91 73039 39018
+91 62307 77623
+91 62309 99623
Copyright © 2024. Maintained by Ultraskill Media