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of <h1>RBI Guidelines for Foreign Entities: Setting Up Liaison, Branch, and Project Offices in India under FEMA 1999.</h1> The Master Circular outlines the regulations for establishing Liaison, Branch, and Project Offices in India by foreign entities, governed by the Foreign Exchange Management Act, 1999. It consolidates existing instructions and will be updated annually. Foreign entities must obtain Reserve Bank of India (RBI) approval, with applications assessed based on business sector and financial criteria. Liaison Offices can only conduct communication activities, while Branch Offices can engage in specific business operations. Project Offices require a contract and funding criteria. The circular details application procedures, permissible activities, compliance requirements, and closure processes for these offices.
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