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ProjectOffice Registration

Setting up Project Office by the foreign company is allowed to complete the projects awarded by the government or private sector. We assist in the drafting and filing applications to RBI for approval of Project Office Registration in India.

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Project Office Registration overview

Registration of Project Office with RBI & ROC must be completed before it starts operating. There are certain conditions which need to be fulfilled before an application is moved for Project Office Registration.To register a project office an application is made with the Category 1 AD Bank with a complete set of documents including the copy of the project agreement and an undertaking that the project shall be funded with inward remittance from abroad or through an arrangement with the bilateral or multilateral international finance agency.

What are the Benefits of Project Office Registration?

(1) Bank Account

(2) Permissible activities

(3) Remittance of profit

(4) Extension of fund and non fund based facilities

(5) Closure of project office

What is the Process of Insurance Web Aggregator License

(1) Furnish application with IRDAI

(2) Prescribed Documents and fees.

(3) Meet the eligibility criteria.

(4) Rejection of license application

(5) Furnish additional information

(6) Issuance of License

Documents Required For Project Ofice Registration?

(1) Certificate of incorporation.

(2) MOA and AOA.

(3) Current Audited Balance sheet of the applicant company.

(4) A resolution by the foreign company’s Board stating the intention behind establishing the project office in India.

(5) Documentary proof that the Project Office is financially backed by the bilateral or multilateral International Financing Agencies OR the Indian Company has obtained term loan for the Project Office by the Financing Institution or Bank in India.

(6) Banker’s report submitted by the company’s banker stating the company’s relationship with the bank.

(7) A letter of authority issued by the parent company in regard to the local representative.

(8) Residence Proof of the authorized personnel.

(9) Copy of passport of the authorized personnel.

(10) A letter saying that the company will open a bank account in India.

Documents submitted to the ROC

(1) Permission from RBI to set up a project office in India

(2) MOA and AOA

(3) A complete details of Directors of the Company

(4) Complete KYC of the shareholders holding more than 10% of Equity in the Applicant Company

FAQs

(1) What is Project Office Registration?

(2) What is the investment entry routes in india for project office registration?

(3) Is it necessary for the LO/BO/PO to register with the police authorities?

(4) Is it possible for LO/BO to have multiple accounts in india?

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