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of <h1>RBI Rules for Foreign Liaison, Branch, and Project Offices in India Under FEMA 1999: Application and Compliance Guide.</h1> The Master Circular outlines the regulations for foreign entities establishing Liaison, Branch, or Project Offices in India under the Foreign Exchange Management Act (FEMA), 1999. It consolidates existing instructions and is valid for one year, subject to renewal. Foreign entities must obtain Reserve Bank of India (RBI) approval, with applications evaluated based on business sector, financial track record, and net worth. Liaison Offices can only perform non-commercial activities, while Branch Offices can engage in specific business activities. Project Offices are allowed under certain conditions. The circular details application procedures, permissible activities, compliance requirements, and closure processes for these offices.
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