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of <h1>New Guidelines for Foreign Offices in India: Approval Criteria, Permissible Activities, and Reporting Under FEMA 1999.</h1> The Master Circular outlines the regulations for foreign entities establishing Liaison, Branch, or Project Offices in India under the Foreign Exchange Management Act, 1999. It consolidates existing guidelines and specifies the criteria for approval, including business sectors, financial track record, and net worth requirements. The Circular details permissible activities for each office type, reporting obligations, and the process for closure. It also addresses the establishment of offices in Special Economic Zones and the conditions under which foreign companies can acquire property in India. The Circular is valid for one year, after which it will be updated.
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