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THINGS TO KNOW BEFORE YOU REGISTER-REGISTRATION OF BRANCH OFFICE OF FOREIGN COMPANY

Only after the approval foreign Company can commence business operations in India.To carry out a Business Activity in India, Foreign Company establish its branch office India. To establish a Branch office in India, it requires approval from RBI and MCA.

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INTRODUCTION

  • Every foreign company incorporated outside India can open a Branch office in India for carrying on business activities in India. There are some condition which is required to be follow for setting up branch office in India.It requires prior approval of Reserve Bank of India

introduction

Requirement And Conditions:

  • The name of Indian Branch office shall be same as Foreign parent company.

  • The Branch office does not have any ownership, it is just extension of the exiting company in the foreign country.

  • All the expenses of the BRANCH office are met by the head office, if it does not have the revenue from Indian operations.

  • The foreign parent company planning to set up a Branch office in India shall have a profitable track record during immediately preceding five years in the home country.

  • The Net Worth i.e. total of paid-up capital and free reserves, less intangible assets as per the latest Audited Balance Sheet or Account Statement certified by a Certified Public Accountant or any Registered Accounts Practitioner by whatever name shall be not less then or equal to USD 100,000.

  • A branch office is is suitable for foreign companies looking to setup a temporary office in India and not interested or not planning to have long term plans for the Indian operations except banking, shipping and airlines etc.

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Purpose For Setting Up Branch Office In India:

Foreign Banks

Foreign airline/shipping company

Rendering technical support to the products supplied by the parent/ group companies.

Rendering services in Information Technology and development of software in India.

To Represent the parent company in India and acting as buying/selling agents in India.

Promoting technical or financial collaborations between Indian companies and parent or overseas group company.

Carrying out research work, in which the parent company is engaged.

Rendering professional or consultancy services

Export/Import of goods

List Of Documents Required For Branch Office for Foreign Company

  • Two copies of Charter Documents (Memorandum & Articles of association) of the Foreigncompany duly attested by the Indian embassy or notary public in its Home country translated in english language.

  • Certification of Incorporation -

    Translated & Duly Notarized and properly authenticated.

  • The Latest audited Balance sheet and annual accounts of parent company duly Translated notarized for past Three years and properly authenticated

  • Name, Address, email ID and telephone number of the authorized person in Home Country.

  • Details of Bankers of the Organization the Country of Origin along with the bank account number

  • Expected funding level for operations in India.

  • Address of the proposed local office, number of persons likely to be employed, number of Foreigners among such employees and address of the head of the Local office, if decided

  • Latest Proof of identity and address of all the Directors - Properly Certified by Banker in Home Country and duly authenticated

  • Structure of the Organization and its Shareholding pattern

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