Application to Reserve Bank for opening branch or liaison office requires Form FNC; sets Project Office eligibility and reporting conditions. Applications to establish a branch or liaison office in India must be made to the Reserve Bank through an Authorised Dealer in Form FNC; authorised dealers may extend liaison office approval validity subject to Reserve Bank directions. Foreign companies may open Project Offices only when they have a contract with an Indian company and the project is funded by inward remittance, an international financing agency, cleared by an authority, or where the Indian contractor has a term loan; the foreign company must report specified project and contract details to the Reserve Bank regional office.