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This Circular advices persons resident outside India who have established LO/BO in India and have not obtained permission from RBI to do so within a period of 90 days from the date of issue of this Circular for regularisation of establishment of such offices in India, in terms of the extant FEMA provisions.
Similarly, foreign entities who may have established LO or BO with the permission from the Government of India must also approach RBI along with a copy of the said approval for allotment of a Unique Identification Number (UIN).
These applications/requests must be submitted to the Chief General Manager-in-Charge, Reserve Bank of India, Foreign Exchange Department, Foreign Investment Division, Central Office, Fort, Mumbai-400001 in form FNC and should be routed through the bank where the account of such LO/ BO is maintained.
