|
| Home : RBI Clarifies Approval Procedure for Foreign Non-Govt Organisations to Establish Offices in India |
|
Oct 05
2012 |
RBI Clarifies Approval Procedure for Foreign Non-Govt Organisations to Establish Offices in India |
|
The Reserve Bank of India (RBI) has clarified the approval process for foreign non-government organizations (NGOs) to establish offices in India. |
|
Sunnyvale, CA - Both government and non-government entities must apply to the RBI for prior permission for the establishment of offices in India.
Foreign Government and Non-Government Organizations
The RBI clarified that Foreign NGOs or Non-Profit Organisations (NPOs) or Foreign Government Bodies or Departments must follow the Government Route to establish offices in India.
Overseas Companies
However, overseas companies doing business in India have been given general permission to establish Project Offices (PO), if they are in contract with an Indian entity for carrying out a project in India. However, this is subject to fulfillment of certain other requirements.
Person Resident Outside India
A Person not resident in India must obtain the RBI's approval for establishing Liaison Office (LO) or Branch Offices (BO) in India.
For more information on this topic email media@nair-co.com
Get the latest press releases and updates on international tax, HR, Finance, compliance and other legal news at Nair & Co. Industry Alerts. |
| Source:http://www.1888pressrelease.com/rbi-clarifies-approval-procedure-for-foreign-non-govt-organi-pr-428137.html |
| |
|
Related News
|
» Myanmar Invites International Freight Forwarders to Conference
» Denmark Proposed Changes in Indirect Taxes; Promotes Hydrogen or Electric Vehicles
|
|
|
