Setting up a Branch office of Foreign Company in India
We are the Group of Professionals compromising Chartered Accountants, Company Secretary and other professional Consultants providing Corporate law services, Company Registration and Incorporation Services in India. Our Team helps Foreign Company or entities to setup there business in India. We are specialise in opening and registering the Wholly owned Subsidiary, Liaison office, Branch office or Joint Venture in India. We can helps the foreign company to setup their Wholly owned subsidiary or any Indian Venture in almost every metro city in India. We have our offices in Noida, Gurgaon, New Delhi, Mumbai.
Registration Process for opening a Branch office in India
- • Foreign company needs to submit its formal application to the Chief General Manager, Exchange Control Department (Foreign Investment Division), RBI Central Office, Mumbai in the form FNC-1.• These applications are considered on a case-to-case basis.• In addition to this, the foreign company is also required to obtain a Certificate of establishment of place of business in India from the Registrar of Companies (ROC).• The RBI generally gives permission in a time span of about 2 to 4 weeks. The application must include the following details:-
-Operating history of the company worldwide
-Proposed interests and activities in India
-Reasons for wanting to open a branch office and
-Any foreign exchange implications for such matters.The branch offices may remit outside India profit of the branch, net of applicable Indian taxes and subject to RBI guidelines. They need not retain any profits as reserves in India. But in certain cases, where income is deemed to have originated in India and such income includes royalties, fees for technical services, interest and capital gains including capital gains from share of capital in India, branch offices may repatriate profits to their Head Office without obtaining prior approval from RBI.
- • Form FC-1
- • A certified copy of the charter, statutes or memorandum and articles, of the company or other instrument constituting or defining the constitution of the company and, if the instrument is not in the English language, a certified translation thereof in the English language
- • The full address of the registered or principal office of the company;
- • The full address of the office of the company in India which is deemed to be its principal place of business in India;
- • List of directors and secretary of the foreign company.
- • Reserve bank of India approval letter.
- • Power of Attorney for Authorised Representative in India.
- In September 2012, RBI came out with a new circular which enlarged the reporting requirement for a Branch Office. The Circular mandated that:
- • A Branch Office shall submit a report containing information in a prescribed form within five working days of the Liaison Office becoming functional to the Director General of Police (DGP) of the state concerned in which Branch Office/LO/PO has established its office; if there are more than one office of such a foreign entity, in such cases to each of the DGP concerned of the state where it has established office in India;
- • A copy of the report as per Annex shall also be filed with the DGP concerned on annual basis along with a copy of the Annual Activity Certificate/Annual report required to be submitted by the Branch Office concerned, as the case may be.
- • A copy of report thus filed as above shall also be filed with AD by the Branch Office concerned.
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