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Project Office Registration online in India with REGISTRATION MITRA

Starts from INR 19,999/- 14,499 only

Inclusions

  • Free advisory by experts
  • Approval from RBI
  • Registration with ROC
  • PAN & TAN of the Office
  • Assistance in opening of Bank Account

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    Project Office Registration In India

    Project Office in India means a place of business in India to represent the interests of the foreign company executing a project in India but excludes a Liaison Office. Foreign companies engaged in turnkey construction or installation normally set up a project office in India for their operations in India.

    Reserve Bank has granted general permission to foreign companies to establish Project Offices in India, provided

    • They have secured a contract from an Indian company to execute a project in India.
    • The project is funded directly by inward remittance from abroad.
    • The project is funded by a bilateral or multilateral International Financing Agency.
    • The project is cleared by an appropriate authority.
    • A company or entity in India awarding the contract has been granted Term Loan by a bank in India or a Public Financial Institution for the project.

    However, if the above criteria are not met, the foreign entity has to approach the Reserve Bank of India, Central Office, for approval. The PO remains valid for the entire tenure of the project (till the project is completed or wound up). Setting up of Project Offices by foreign Non-Government Organisations/Non-Profit Organisations/Foreign Government Bodies/Departments, by whatever name called, are under the Government Route. Accordingly, such entities are required to apply to the Reserve Bank for prior permission to establish an office in India, whether Project Office or otherwise.

    Documents Required

    • Name and address of the Project office in India
    • Copy of the Certificate of Incorporation / Registration; Memorandum of Association and Articles of Association duly notarized and apostilled in the country of registration.
    • Audited Balance sheet of the applicant company for the current year.
    • Bankers' Report from the applicant’s banker in the host country / country of registration showing the number of years the applicant has had banking relations with that bank.
    • Power of attorney or board resolution in favor of the authorized representative
    • Address proof of Registered business address of the office, i.e.
      • Electricity Bill or Telephone Bill or Gas Bill not older than 1 month
      • NOC from the landlord in the name of the office
    • Declaration that none of the directors of the company or the authorized representative in India has ever been convicted or debarred from formation of companies and management in India or abroad
    • List of directors and secretary of the foreign company
    • Name and address of the company’s official representative based in India (the person authorized to accept delivery of notices and documents served to the company).

    Note: All the documents of Foreign Individuals or body corporates should be duly Apostilled or Consularized and notarized by Native Country.

    Advantages of Project Office in India

    • Fewer on-going formalities as it is a project specific contract.
    • Greater level of control to the parent company.
    • Easy to shut down..
    • Non-interest bearing Foreign Currency Account can be opened easily.
    • Uncomplicated set-up formalities
    • surplus funds can be repatriated back to the parent

    Registration Procedure

    • Step 1
      Application to RBI
      • The first step is to submit an application in Form FNC (As per Annex C of Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) Regulations, 2016) to an Authorized Dealer Category-I bank along with the requisite documents.
      • The AD Category-I bank shall after exercising due diligence and compliance with the extant KYC norms grant approval to the foreign entity for establishing PO in India as per the directions and/or guidelines issued by the Reserve Bank in this regard.
    • Step 2
      Obtain a Digital Signature Certificate (DSC)
      • The next step is to obtain Digital Signature Certificates for the authorized representative.
      • Digital Certificates are the digital/ electronic equivalent of physical signatures.
      • MCA accepts applications only if the DSC are affixed on it so as to ensure the authenticity of application of registration.
      • Hence, to file the application online one needs to obtain DSC.
    • Step 3
      Filing the application for registration with ROC
      • The final step is to prepare & file the application for registration of office
      • This application has to be filed within 30 days from the date of approval by RBI.
      • The application is filed online in Form No. FC-1 along with relevant documents.
    • Step 4
      Certificate of Registration
      • On receipt of the application, If MCA feels that the application filed is complete in all respects, it will issue a Certificate of Registration within 7 days, OR
      • On receipt of the application, If MCA needs any additional information or clarification, then they will give an opportunity to resubmit all the documents with the additional information or clarification. Once they are satisfied that the application is complete or the clarification is they will issue the Certificate of Registration.

    Register For A Setting Up Project Office In India With Registration Mitra

    We at Registration Mitra can help you in setting up a Project office in India. Our dedicated team will help you with the entire process from RBI Approval to registration under Companies Act to post registration Compliances. Anyone looking for Project Office in India can contact Registration Mitra for a quick and reliable solution.

    How Registration Mitra helps in this Entire Process

    Proper Advice and research

    Our experts will advice you throughout the process for registration

    Drafting of documents and application

    We will draft the required supporting documents and application for submission with the RBI and Registrar of companies.

    Online application

    We will prepare the online application in in Form FNC and Form FC-1 and submit the same for approval of ministry.

    Follow-up

    After submission, we will keep following the authorities for getting approval and update you accordingly.

    Other registrations

    After getting Certificate of Registration and RBI approval, we will apply for other registrations.