Acquisition of immovable property by foreign branch and project offices permitted for operational use; certain nationalities need prior approval.

Branch and project offices of foreign entities (excluding liaison offices) are permitted to acquire immovable property in India for their own operational use and to carry out permitted or incidental activities, subject to a prohibition on leasing or renting the property to others; specified nationalities require prior Reserve Bank approval to acquire immovable property; liaison, branch and project offices may operate from leased premises only where the lease term does not exceed the applicable maximum duration.

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