To them, successful project delivery is defined by the completion of deliverables as per the. Designated AD Category-I bank may allow remittance of winding up proceeds after receiving application of closure of branch office along with the documents mentioned above.Īt the end, designated AD Category – I bank will report to the Reserve Bank (the Regional Office concerned for LOs and Central Office for BOs), along with a declaration stating that all the necessary documents submitted by the BO / LO have been scrutinized and found to be in order for closure of Branch Office. Many practitioners overlook the project closing process group. remittance of assets of branch or liaison office established in India shall be governed by the guidelines issued under Foreign Exchange Management (Remittance of assets) Regulations.
Permission/ Approval letter received from RBI for establishing Branch/ Liaison office.The application is to be supported by the following documents: Application with AD Category – I bank.Īn application be made with the designated AD Category – I bank for closure of Branch/Liaison office. Closure of these foreign companies in India requires RBI approval and a report from RoC as to the state of compliances. The license is given for three years and thereafter, it requires renewal.
PROCEDURE FOR CLOSURE OF PROJECT OFFICE IN INDIA REGISTRATION
First is RBI approval and the second is registration with the Registrar of Companies (RoC). There is a two-stage registration process for a Liaison / Branch office ( Foreign Companies) of a foreign Parent Company. Closure of Liaison Office / Branch Office 15 January 2018
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