Process to Incorporate a Branch Office in India
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1
An attestation of documents:
From the certificate of incorporation, board resolutions, moa to articles of the foreign company, the documents with the authorized signatory of the foreign company are required to be filed with RBI.
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2
Application with RBI through AD Bank:
The application for setting the branch office of a foreign company in India is required to be filled in FNC to the RBI through AD Bank. Authorized Banks play a vital role in the process, as all the communication to the RBI has to be routed through them.
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3
KYC Verification:
After you are done with FNC form with the AD Bank, you need to put a request for the verification of the documents. This request is made to the banker of the foreign company. It is also known as swift based verification. When AD bank receives the verified documents then, they submit it to the RBI for the respective approval.
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4
Approval for Branch Office Registration in India by RBI:
RBI ensures a 100% FDI before giving the approval and in some cases RBI consults with the relevant ministry of the central government. When RBI grants the permission then, a unique number known as UIN is allotted to the owner of the company.
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5
Registration of Foreign Company Branch with the ROC:
The registration of the branch office of the foreign company is to be filed within 30 days of the approval of the RBI. If the foreign company's director is Indian then, a DIN number of the director is needed, and the authorized signatory is asked to e- file statutory forms with the ROC for further permission.
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6
PAN Card & Bank A/c Opening:
10 digits Income Tax alphanumeric number (permanent account number or PAN), given by the Income Tax department is required as well as, a Tax Deduction Account Number is also needed. The bank account should be opened up after the allotment of PAN number.
