Remittance of initial and recurring expenses for Branch offices opened abroad

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....opened abroad Attention of Authorised Dealer (AD) banks is invited to sub-regulation 4A of Notification No.FEMA 47/2001-RB dated December 5, 2001 enclosed to the AP(DIR Series) Circular No.54 dated June 29, 2002, in terms of which AD banks were permitted to allow remittance up to two and one percent of average annual sales/income or turnover during last two accounting years of the Indian entity f....