As a measure towards improving the ease of doing business, procedure for Establishment of Branch Office (BO)/Liaison Office (LO)/Project Offices (PO) in India by Foreign entities simplified

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..... As a measure towards improving the ease of doing business, procedure for Establishment of Branch Office (BO)/Liaison Office (LO)/Project Offices (PO) in India by Foreign entities simplified - News and Press Release Dated:- 12-4-2016 - News - As a measure towards improving the ease of doing business, it has now been decided that except for a few sectors viz. Defence, Telecom, Private Security, In .....

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..... formation and Broadcasting and Non-government organization and except a few countries, the power to grant approvals for establishment of Branch Office (BO)/Liaison Office (LO)/Project Offices (PO) in India by foreign entities, would be delegated to the Authorised Dealers Category-I Banks. Further, anyone who has been awarded a contract for a project by a Government authority/PSU would be automatic .....

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..... ally given approval to open a bank account. Regulations in this regard have been notified by RBI vide G.S.R. 384 dated March 31, 2016 . Earlier these entities used to seek the approval of Reserve Bank of India (RBI) before setting-up their BO/LO/PO office in India. While Reserve Bank of India (RBI) gives permission in those cases where 100% FDI is allowed under automatic route, all other ca .....

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..... ses are referred to the Government for approval. The establishment of Branch Office (BO)/Liaison Office (LO)/Project Offices (PO) in India by foreign entities is regulated in terms of FEMA 22/2000-RB dated May 3, 2000 , as amended from time to time. The foreign entities can set-up their BO/LO/PO in India without registering themselves as companies/trusts etc. under Indian Laws. - News - Pre .....

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..... ss release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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