Regulation 2 - Definitions - 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

2. Definitions In these regulations, unless the context otherwise requires a. 'Act' means the Foreign Exchange Management Act, 1999 (42 of 1999) . b. Authorised Dealer means a person authorised as an authorised dealer under sub-section (1) of Section 10 of the Act . c. 'Foreign company' means a body corporate incorporated outside India and includes a firm or other association of individuals. d. 'Branch Office' in relation to a company, means any establishment described as such by the company. e. 'Liaison Office' means a place of business to act as a channel of communication between the principal place of business or Head Office or by whatever name called and entities in India but which does not undertake any commercial /trading/ industrial activity, directly or indirectly, and maintains itself out of inward remittances received from abroad through normal banking channel. f. 'Project Office' 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. g. 'Site Office' means a sub-office of the Project Office established at the site of a project but does not include a Liaison Office. h. Stand-alone basis means such branch offices would be isolated and restricted to the Special Economic Zone alone and no business activity/ transaction will be allowed outside the Special Economic Zones in India which includes branches/subsidiaries of its parent office in India. i. The words and expressions used but not defined in these Regulations, shall have the same meanings respectively assigned to them in the Act.