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A Branch Office can approach any AD Bank in India to open a Bank Account for its operations in India. The permissible credits in bank account are generally fund received from head office through normal banking channels for meeting the expenses of the office and any legitimate receivables arising in the process of its business operations. While the permissible debits are the expenses incurred by the Branch Office and towards remittance of profit/winding up proceeds.
(1) Permissible Activities
(2) Expanses of branch office
(3) Bank account
(4) Remittance of profit
(5) Extension of fund and non fund based facilities
(5) Clouser of branch office
(1) Filing Of Application With RBI Through AD Bank
(2) Prior Approval from RBI in special cases
(3) Verification Of KYC From Banker Of Parent Company
(4) Approval Of RBI For Branch Office Registration In India
(5) Registration Of Branch Office With ROC
(6) PAN Card, Tax Deduction Number, And Bank Account Opening
(7) GST Registration & IEC
Documents Required for Parent Company
(1) Certificate of incorporation.
(2) MOA and AOA.
(3) Complete details of Directors and Key Executives of the company.
(4) Full details of the shareholders of the applicant company.
(5) Last five preceding year’s audited financial statement.
(6) A report from the applicant's banker in the host country.
Documents submitted to the Office address registration
(1) 5 copies of passport
(2) 5 passport size photographs
(3) A copy of Business Visa with Immigration Stamp of arrival on it
(4) 5 copies of the National Identity Card
(5) Latest Address Proof (Electricity Bill/ Phone Bill/ Water Bill/ Bank Statement)
(1) What is Branch Office Registration?
(2) What is branch business?
(3) What is the eligibility criterion for registering a branch office in india?
(4) What is the income tax rate for a branch office of a foreign country?
