TaxTMI 
TaxTMI 
Whether Form OBR is required to be filed with AD to establishment overseas branch at the time of making initial remittances?
Awaiting your prompt reply.
ESTABLISHMENTOF OVERSAES OFFICE
01 Mar 2011 
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Form OBR requirement: file with authorized dealer before initial overseas branch remittances, include turnover certificate and declaration.
Indian firms must submit a completed Form OBR to their bankers (authorized dealers) when making initial remittances to establish an overseas branch, accompanied by auditor-certified turnover particulars and a declaration that no other authorized dealer has been or will be approached; the authorized dealer processes the supporting documents and, if satisfied, releases foreign exchange. (AI Summary)
Indian firms must submit a completed Form OBR to their bankers (authorized dealers) when making initial remittances to establish an overseas branch, accompanied by auditor-certified turnover particulars and a declaration that no other authorized dealer has been or will be approached; the authorized dealer processes the supporting documents and, if satisfied, releases foreign exchange. (AI Summary)