Foreign currency account restrictions prevent liaison, branch and project offices from using FCY accounts for ordinary business transactions. Liaison, branch and project offices of foreign entities in India are not permitted to open or use foreign currency accounts for ordinary business ... Summary
Foreign currency account restrictions prevent liaison, branch and project offices from using FCY accounts for ordinary business transactions.
Liaison, branch and project offices of foreign entities in India are not permitted to open or use foreign currency accounts for ordinary business transactions under the applicable FEMA guidance, and must comply with the prescribed FEMA mechanisms for any permitted remittances or receipts.
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