<h1>Foreign Firms Need RBI Approval via Form FNC for Liaison or Branch Offices in India; Adhere to Specific Rules.</h1> Foreign companies seeking to establish Liaison or Branch Offices in India must apply using Form FNC to the Reserve Bank of India (RBI) through an Authorized Dealer bank. The RBI evaluates applications based on the company's business sector and financial track record. Liaison Offices are limited to communication and promotional activities without generating income, while Branch Offices can engage in specific business activities such as export/import and consultancy. Both must file annual activity certificates and comply with tax regulations. Foreign insurance companies and banks require additional approvals from respective regulatory bodies. Project Offices are permitted under certain conditions and must manage foreign currency accounts with strict oversight.