RBI Clarifies Approval Procedure for Foreign Non-Govt Organisations to Establish Offices in India
The Reserve Bank of India (RBI) has clarified the approval process for foreign non-government organizations (NGOs) to establish offices in India.
- (1888PressRelease) October 05, 2012 - Sunnyvale, CA - Both government and non-government entities must apply to the RBI for prior permission for the establishment of offices in India.
Foreign Government and Non-Government Organizations
The RBI clarified that Foreign NGOs or Non-Profit Organisations (NPOs) or Foreign Government Bodies or Departments must follow the Government Route to establish offices in India.
Overseas Companies
However, overseas companies doing business in India have been given general permission to establish Project Offices (PO), if they are in contract with an Indian entity for carrying out a project in India. However, this is subject to fulfillment of certain other requirements.
Person Resident Outside India
A Person not resident in India must obtain the RBI's approval for establishing Liaison Office (LO) or Branch Offices (BO) in India.
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