Procedure for a NBFC co. to open a office in Canada, FEMA

[satbir singh wahi]

Closely held NBFC ltd company wants to open office in canada,can you guide regarding formalities involved.

Posts / Replies

[Dinesh Gupta]

To open and maintain a branch / office outside India, there may be requirement of keep foreign exchange outside India, remit money /asset outside India, involvement of current account transactions or capital account transactions outside India. Therefore for different purpose there are different regulations have been prescribed by the RBI. Therefore you need to visit the FEMA section and carefully analyse the provisions to get the answer to your query.