FAQ about Incorporating Limited Liability Partnership
FAQ about Incorporating Limited Liability Partnership What is a Limited Liability Partnership?
Read More- Get your Foreign Company branch office in India
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A foreign company cannot simply open a branch in India, there are certain procedures to follow for Branch Office Registration in India, which would give permissions for Opening A Branch Office in India. The company can carry out activities that are permitted only by the RBI (Reserve Bank of India), the branch can pull in turn over to the company only via legal methods and what the company has been committed in doing abroad.
A branch office in India is essentially an extension of a foreign company’s operations that gets established and registered within India. This allows the foreign company to conduct business activities in the country while maintaining its identity as a separate legal entity.
The manufacturing license is not permitted out of the box, but it must be provided only on the request on subcontract basis. This method of Branch Office Registration India is a great way for Foreign companies who are concentrating on the Expanding into the Indian Subcontinent.
The activities of the Branch office should be all under the legal terms of Indian Act. With branch office in certain areas would allow fine-tuned target audience and clearer location driven business activities.
An individual residing outside of India can set up a branch office in India if they meet certain requirements. These requirements include having a track record of making profits for the last five financial years in their home country and having a net worth of at least USD 100,000 or an equivalent amount.
However, there’s an exception for individuals or entities that are not financially strong and are subsidiaries of other companies. In such cases, they can submit a Letter of Comfort from their parent company, as long as the parent company meets the specified criteria for net worth and profit. This letter provides assurance and support for the branch office’s financial activities in India which helps in Annual Compliance for Private Limited Company in future.
Any company from abroad willing to expand into India by setting up a branch office is required mandatorily to submit the profit based previous track record for the verification by RBI.
No, the company cannot be represented with a different name and it must be only represented with the same name as the actual incorporation that exists abroad.
Out the box from registration that is not possible, but can be done via establishing a sub contract which will give the rights for the company to do manufacturing of the products inside India.
The licensing is provided on 3 years basis usually and post that period the branch office should be renewed in order to stay legal.
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FAQ about Incorporating Limited Liability Partnership What is a Limited Liability Partnership?
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