Establishment of Project Offices in India by Foreign Entities
AS per the Foreign Exchange Management (Establishment in India of Branch or Office or other Place of Business) Regulations, 2000, no person, being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, Iran or China, shall establish in India, a branch office or a liaison office or a project office or any other place of business by whatever name called, without the prior permission of the Reserve Bank.
RBI clarifies that that the general permission accorded in terms of the Circular No. 37/2003 dated 15.11.2003 is subject to the regulation above.
A.P. (DIR Series) Circular No. 76, Dated: February 09, 2012