Branch Office Registration

Description

Process for Branch Office Registration

Application to the Reserve Bank of India

BAn application for a foreign corporation is filed in FNC through the AD Bank Branch office. The application is submitted through AD Bank to the Reserve Bank of India (Authorised Dealer Category 1 prescribed by RBI). The AD bank plays a crucial function because it is through them that all contact with the RBI is routed.

RBI Approval Is Required in Unusual Situations

In the RBI’s unique instances, the AD bank needs prior clearance. Entities whose primary economic activity is in a sector that allows 100 percent FDI are given the automatic path.

The situations in which the bank need prior clearance.

• The applicant is a citizen of Pakistan, Afghanistan, Iran, China, Bangladesh, Sri Lanka, Hong Kong, or Macau, and the application is for the establishment of a BO/LO/PO in the North East area, Jammu and Kashmir, or the Andaman and Nicobar Islands.
• The four main business sectors are telecommunications, private security, defence, and information and broadcasting.
• The applicant is a non-profit organisation.

Verification of KYC with the parent company’s banker

A request for document review is addressed to the banker of the foreign company. Swift-based verification refers to the procedure of making a request for verification. The application is preceded for approval purposes once the foreign banker has confirmed the materials. The RBI/AD may also request other documentation, depending on the circumstances.

Reserve Bank of India has given its approval for the registration of branch offices in India

The AD Banker follows a precise procedure when it comes to approving the branch office in India. The scenarios when the automatic route is not available are given priority.

ROC Registration of a Branch Office

Within 30 days of receiving RBI approval to open a branch office in India, a foreign business must file an application in form FC-1 for branch office registration in India. In the event of an Indian director on a board, the authorised signatory’s digital signature is necessary for e-filing statutory papers with the ROC.

Opening a bank account, obtaining a PAN card, and obtaining a tax deduction number

PAN numbers are issued by India’s income tax agency and are unique 10 digit numbers. The branch office can open a bank account once it has received its PAN number. To comply with all TDS regulations, every taxpayer must get a Tax Deduction Account Number.

IEC & GST Registration

When you get a bank account and a chequebook, you’ll need a copy of the check to register for GST registration and an Import Export Code.

List of Documents Needed to Register a Branch Office

In the process of registering a Branch Office, precise and correct documentation is critical. As a result, documentation must be current and valid.

Documents from the parent company are required.

• Certificate of Incorporation
• Association Memorandum.
• Articles of Incorporation
• Complete list of the company’s directors and key executives.
• Complete list of the applicant company’s shareholders.
• Certified Public Accountant’s attestation of net worth (CPA).
• The audited financial statements from the previous five years.
• In the host country, a report from the applicant’s banker.

Documents Required for The Registration of the Office Address

• 5 passport copies are required.
• Five passport-size photos
• A copy of your business visa with your arrival stamp from Immigration.
• A total of 5 copies of the National Identity Card are required.
• Recent proof of address (utility bill, phone bill, water bill, bank statement).
• In the name of AR, a Power of Attorney is granted.
• The AR is appointed by a Board Resolution