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Home - Branch Offices in India
Branch Offices in India
INTRODUCTION OF BRANCH OFFICEAs the name suggest the BRANCH office is setup by a foreign company in India to carry out the BRANCH activity for its business. The foreign company can have any revenue from the Indian Branch office only from the activity allowed by the Reserve Bank of India; It has to meet all its expenses of Indian office through remittances from the Head office or through the revenue generated from the Indian operation permitted by the Reserve Bank of India.
BRANCH office is suitable for a foreign company to test and understand the Indian market with a very strict control by the Reserve Bank of India, as it does allow the companies to do business but just to do the activity which are mentioned in the application of Branch office, Any additional activity to be carried by the Branch office shall be illegal. Branch office can carry additional business activities only with the prior approval from the Reserve Bank of India.
The application for BRANCH office Licenses is approved by the RBI, but as per the recent changes the applications for BRANCH office are routed through the Authorized Dealers (AD). Due to this the timeline for setting up the BRANCH office has increased tremendously. Further the documentation required for the same has also increased to a great extent.
GENERAL FEATURES OF BRANCH OFFICE
ACTIVITIES ALLOWED TO BRANCH OFFICE IN INDIA
CONDITION FOR SETTING UP BRANCH OFFICE
DOCUMENTS REQUIRED FOR BRANCH OFFICE SETUPCurrently as per the RBI Requirement the application for the branch office and BRANCH office is submitted through the Authorized dealer. The authorized dealer means the various institution having banking licenses.
The applicant of the Branch/BRANCH office has to opt for the any of the Authorized Dealer, it is always preferable for the company to opt for the same authorized dealer as it is dealing in the home country.
NOTE - THE ABOVE LIST IS NOT EXHAUSTIVE AND MAY DIFFER DEPENDING UPON THE REQUIREMENT FROM THE AUTHORISED DEALER.
BRIEF SUMMERY OF STEPS TO GET RBI LICENSES
PROCEDURE AFTER GETTING THE RBI LICENSE
Every BRANCH office registered with RBI shall get itself registered with the Ministry of Corporate Affairs, It is a registration by the BRANCH office as a establishment of foreign company in India. On such registration a CIN i.e Corporate Identity Number is allotted by the Registrar of Companies. The following documents shall be filled with the Registrar of Companies :-
OTHER BUSINESS LICENSES APPLICABLE TO BRANCH OFFICE
ANNUAL ACTIVITY TO BE CARRIED OUT BY BRANCH OFFICE
CLOSURE OF BRANCH OFFICE
Generally the BRANCH office licenses is given for three years, if at any time the Company plans to close the BRANCH office setup in India it shall file the necessary documents with the Authorized Dealer, and the application for the closure shall be forwarded by the Authorised Dealer.