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March 2012

A.P. (DIR Series) Circular No. 76, dated 9-2-2012 — Clarification — Establishment of project offices in India by foreign entities — General permission.

By Gaurang Gandhi, Chartered Accountant

Reading Time 1 mins

Presently, general permission has been granted to a foreign entity for setting up a Project office in India, subject to certain conditions.

This Circular clarifies that despite the general permission, citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, Iran or China, cannot establish in India, a branch office or a liaison office or a project office or any other place of business by whatever name called, without the prior permission of RBI.

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March 2012

A.P. (DIR Series) Circular No. 76, dated 9-2-2012 — Clarification — Establishment of project offices in India by foreign entities — General permission.

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A.P. (DIR Series) Circular No. 75, dated 7-2- 2012 — External Commercial Borrowings — Simplification of procedure.

A.P. (DIR Series) Circular No. 79, dated 15-2- 2012 — Clarification — Purchase of immovable property in India — Reporting requirement

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March 2012

A.P. (DIR Series) Circular No. 76, dated 9-2-2012 — Clarification — Establishment of project offices in India by foreign entities — General permission.

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You May Also Like

A.P. (DIR Series) Circular No. 75, dated 7-2- 2012 — External Commercial Borrowings — Simplification of procedure.

A.P. (DIR Series) Circular No. 79, dated 15-2- 2012 — Clarification — Purchase of immovable property in India — Reporting requirement