Dated 30th July 2013
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 This circular will stand withdrawn on July 1, 2014 and be replaced by an updated Master Circular on the subject.
The complete Master Circular in PDF format is available below.
SOURCE: RESERVE BANK OF INDIA