Hi, my name is Sanjeev Kamdar, Partner, KDP Accountants.
With an experience of over 33 years, I would be glad to help you with your requirements
"Branch Office as stated in section 2(13) of Companies Act, 2013 "Office in relation to a company, means any establishment described as such by the company". With help Branch Office foreign companies can conduct their business in India in a full-fledged manner. Branch Offices are allowed to carry the same or substantially the same activities as carried out by their main/parent or group organizations. The Branch Offices are not allowed to directly indulge in carrying out the manufacturing activities as they are permitted to sub-contract such kind of services to an Indian manufacturer."
You are requested to first fill the simple questionnaire provided by our expert team which help us in analyzing you case.
At the second step we will be requiring the documents in accordance with the questionnaire filled and also as per the list stated above by you so that we can arrange them as per the requirement and for processing.
First of all DSC (Digital Signature Certificate consisting of the E-signatures) is required to be prepared. This step can be ignored if prepared already. It will approximately take 1-2 days.
The application for set up of Branch Office/Liaison Office/Project Office of foreign company will be filed in FORM FNC (Annex B) to RBI through AD Bankers with which the company intends to have banking relations in future. The AD Bankers will verify the documents and If satisfied will forward the documents to RBI for allotment of UIN.
RBI shall approve the form by allotting a Unique Identity Number and intimate the AD Bankers who will issue the approval letter for setting up Branch Office/Liaison Office/Project Office of foreign company.
After the receipt of the approval from AD Banker, an application for registration of Branch Office/Liaison Office/Project Office of foreign company will be made to ROC in FORM FC-1 within 30 days with the appropriate documents as obtained.
Lastly, after the approval a Certificate of Incorporation will be provided through e-mail which signifies that the office has been setup.
Businesses that would like to set up a branch office in India need to meet the following conditions:
In cases where the applicant foreign entity does not meet the financial criteria, the parent company may issue a Letter of Comfort (LoC), given the company satisfies the prescribed criteria for net worth and profit.
If the foreign entity wishes to establish a branch office in more than one location in India, it must register the branch, or seek approval from the RBI for each of the location separately. The RBI approval is also necessary for each activity the branch office intends to undertake in India.