Business Entities

Project Office11

The RBI has granted general permission to foreign companies to establish Project Offices (PO) in India if they have secured a contract from an Indian company to execute a project in India, if:

  • The project is funded directly by inward remittance from abroad
  • The project is funded by a bilateral or multilateral international financing agency
  • The project has been cleared by an appropriate authority
  • The company or entity in India awarding the contract has been granted a term loan by a public financial institution or a bank in India for the project.

However, if the above criteria are not met, the foreign entity will be required to obtain RBI approval.

If the applicant is a citizen of or is registered/incorporated in Bangladesh, Sri Lanka, Afghanistan, Iran, China, Hong Kong, or Macau and the application is for opening a BO/LO/PO in Jammu and Kashmir, the North-East region, or Andaman and Nicobar Islands, the applications shall be processed in consultation with the Government of India.

Get in Touch
Virender Bhasin
Executive Director
Entity Set-up & Management

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