https://www.taxtmi.com/circulars?id=11138 Establishment and regulation of foreign entities' offices in India require prior Reserve Bank approval through designated AD Category I banks, assessed via Reserve Bank or Government Routes based on sectoral FDI permission. The RBI considers track record and net worth thresholds, permits letters of comfort from parents for subsidiaries, and assigns a Unique Identification Number; approved offices must obtain PAN. Liaison Offices are limited to non income liaison functions and renewable by AD banks; Branch Offices may undertake specified commercial activities but not retail trading or manufacturing outside SEZ permissions. Project Offices qualify under funding or sanctioning criteria and may maintain restricted foreign currency accounts. Annual Activity Certificates and audited accounts, AD bank scrutiny, and prescribed closure documentation are mandatory for compliance and remittance of profits. en-us Fri, 01 Jul 2011 00:00:00 +0530 Fri, 01 Jul 2011 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11138 Establishment and regulation of foreign entities' offices in India require prior Reserve Bank approval through designated AD Category I banks, assessed via Reserve Bank or Government Routes based on sectoral FDI permission. The RBI considers track record and net worth thresholds, permits letters of comfort from parents for subsidiaries, and assigns a Unique Identification Number; approved offices must obtain PAN. Liaison Offices are limited to non income liaison functions and renewable by AD banks; Branch Offices may undertake specified commercial activities but not retail trading or manufacturing outside SEZ permissions. Project Offices qualify under funding or sanctioning criteria and may maintain restricted foreign currency accounts. Annual Activity Certificates and audited accounts, AD bank scrutiny, and prescribed closure documentation are mandatory for compliance and remittance of profits. Circulars FEMA Fri, 01 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11138