Project Office

A place of business that is created for representing the interests of a company from foreign doing a project in India is known as a project office.

Companies from foreign joining a private company/subsidiary company in India for a specific project can face several issues like:

• Wastage of resources & time.


• High compliance needed.


• Time wasting closure reports.

In order to control such matters & to create an entry or exit normal for the Company from foreign the RBI has decided to give general approval to foreign companies to set up/arrange for Project Offices in India, they have deal with an Indian company to do project securely in India. &

• The project is sponsored directly by private way from foreign or


• The project is sponsored by a two-sided/many-sided Global Financing Organisation or


• The appropriate authority cleared the project or


• For a project a company in India giving the contract has been decided Term Finance by a PFI/bank in India.

• The application for the creation of Project Office in India, to be given by the Non- Local in Form FNC to a selected AD Group one Bank (AD Bank), & with the arranged paperwork written in the Form FNC & the LOC i.e.


• AD Bank after Studying the application & submission with the present KYC norms allows the formation of a Project Office in India.


• The time period of the project office is depended on the project.


• On documents of approval for setting up of project office in India, the company has to report to AD Bank, the day on which Project Office has been started.


• The AD Bank will update RBI if the permission allowed will give up or expired & no project office will be set up.


• The company is needed an approval letter to established the project office in under 6 months.

Tif a person from Hong Kong, Macau Afghanistan, Sri Lanka, China, Pakistan, Bangladesh, or Iran wants to set up Project Office in India, will have to register with police authorities of that state where they want to set up. An approval letter copies for ‘persons’ from these countries will be selected by the AD Category-I bank to the Government of India, Internal Security Division-I, Ministry of Home Affairs, New Delhi for the record.

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