Reserve Bank of India vide its Master Circular No. RBI/2013-14/7 dated July 1, 2013 issued to All Category – I Authorised Dealer banks stated that:
Establishment of Branch/Liaison/Project Offices in India is regulated in terms of Section 6(6) of Foreign Exchange Management Act, 1999 read with Notification No. FEMA 22/2000-RB dated May 3, 2000 as amended from time to time.
This Master Circular consolidates the existing instructions on the subject of “Establishment of Branch/Liaison/Project Offices in India by Foreign Entities” at one place. The list of underlying circulars/notifications consolidated in this Master Circular is furnished in the Appendix.
This Master Circular is being issued with a sunset clause of one year. This circular will stand withdrawn on July 1, 2014 and be replaced by an updated Master Circular on the subject.
SOURCE: RESERVE BANK OF INDIA
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