As the name suggests, the branch office is setup by a foreign company in India to carry out local activity for its foreign business entity. The foreign company can have revenue flowing in from the Indian branch office only from the activities allowed by the Reserve Bank of India; it has to meet all its expenses of Indian office through remittances from the Head office or through the revenue generated from the Indian operation permitted by the Reserve Bank of India.
The application for branch office Licenses is approved by the RBI, but as per the recent changes the applications for BRANCH office are routed through the Authorized Dealers (AD). Due to this the timeline for setting up the BRANCH office has increased tremendously. Further the documentation required for the same has also increased to a great extent.
The Application has to be made to RBI through Authorized Dealer Category-1 Bank in India.
RBI will allot a UIN (Unique Identification Number) on approval of application.
Once approved the intimation has to be given to Registrar of Companies (ROC) and Director General of Police (DGP).
An application has to be sent to the Income Tax Department to allot Permanent Account Number (PAN).
Obtain help of Professionals & Subject matter experts at CFO Affairs to understand the intricacies involved in the registration. We are more than happy to educate you and make your entity registration a hassle free process.
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We’ve worked with CFO Affairs from the very early stages of our business, through to established startup, and then scale up. They have been a one stop solution to our start up needs, understanding our core activities, suggesting us the most appropriate entity, advising us on the mandatory registrations & permissions to be obtained. Their work has been invaluable to us and I would unreservedly recommend them!
As a startup company we were incurring costs in the set up of our business. CFO Affairs helped us with an interesting expense budgeting & business plan along with setting up of the entire work flow, invoicing, accounting and compliance system in place. The execution by their team was the best! We were relieved of so much work load and responsibilities! I personally recommend CFO Affairs to one & all! We will stay associated with you guys!
This is good news for me that the company is now incorporated. I would like to thank CFO Affairs and all its staff members involved in the incorporation process. CFO Affairs has been very punctual and thorough in all the documentation process. I am sure, it would have taken a lot more time for me to manage this stuff by myself, thanks to CFO Affairs, they managed it all for me.
The expertise at CFO Affairs is really broad and at the same time they have great specialists amongst them, giving access to advice that is current and in line with changing trends and norms. They have been awesome when it comes to delivering on time, proactively providing expert support to so many facets of our early strategies and management & an insightful and attentive partner. Kudos to the team! Keep the good work going.