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Prior approval for foreign offices in India required; project offices allowed with Indian contract, NGOs need government-route clearance. Foreign persons must obtain prior regulatory approval to establish Liaison, Branch or Project Offices in India; project offices may be opened under general permission only where a contract with an Indian company exists and prescribed conditions are met. Foreign NGOs, non-profit entities and foreign government bodies are governed by the Government Route and must apply to the Reserve Bank for prior permission. Authorised Dealer Category I banks are to notify their constituents, and these directions operate alongside any other statutory approvals that may be necessary.
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Prior approval for foreign offices in India required; project offices allowed with Indian contract, NGOs need government-route clearance.
Foreign persons must obtain prior regulatory approval to establish Liaison, Branch or Project Offices in India; project offices may be opened under general permission only where a contract with an Indian company exists and prescribed conditions are met. Foreign NGOs, non-profit entities and foreign government bodies are governed by the Government Route and must apply to the Reserve Bank for prior permission. Authorised Dealer Category I banks are to notify their constituents, and these directions operate alongside any other statutory approvals that may be necessary.
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