India Entry Strategy 1 : Liaison / Representative Office
Liaison office acts as a channel of communication between the principal place of business or head office and entities in India. Liaison office cannot undertake any commercial activity directly or indirectly and cannot, therefore, earn any income in India.
Its role is limited to
- Representing the parent/ group companies in India.
- To act as the channel of Communication between its Head Office and Parties in India.
- Collecting and/ or providing business information.
- Promoting export/ import from/ to India.
- Promoting Technical/ financial collaborations between parent/ group companies and Indian companies.
Liaison Office has advantages like easy operations, less formalities and simple closer procedure. Operations of a Liaison office are limited to collection of market information on behalf of the company and providing information about the company and its products to existing/ potential customers.
The approval for establishing a liaison office in India is granted by the Reserve Bank of India (RBI). A Liaison office is required to register itself with the Registrar of Companies (ROC) and to comply with certain procedural formalities, as prescribed under the Companies Act 1956. Foreign Insurance Companies can establish liaison offices in India after obtaining necessary approval from the Insurance Regulatory and Development Authority of India.
- Procure RBI permission through Form FNC-1
- Registration with Registrar of Companies (ROC), New Delhi and ROC, Mumbai
- Procuring Digital Signature Certificate for the India representative of the Indian office.
- Registration with Income Tax Department for obtaining Permanent Account Number (PAN) & Obtaining Tax deduction Number (TAN).
- Registration with Import-Export Authority for theImport Export Code Number (IEC)
- English version of the certificate of incorporation / registration attested by Indian Embassy
- Latest balance sheet of the applicant company / firm.
- Certified photo-copy of the agency Agreement, if any, with parties in India.
- Photo-copy of the Agreement / draft- Agreement / correspondence indicating the terms of appointment of the proposed representative duly authenticated by the applicant.
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