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February 2014

A. P. (DIR Series) Circular No. 93 dated 15th January, 2014

By Gaurang Gandhi, Chartered Accountant
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Notification No. FEMA.293/2013-RB dated 12th November, 2013, vide G.S.R. No. 767(E) dated 6th December, 2013

Clarification- Establishment of Liaison Office/ Branch Office/Project Office in India by Foreign Entities- General Permission

Presently, no entity or person, being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, Iran or China is permitted to establish in India, a branch office or a liaison office or a project office or any other place of business by whatever name called, without obtaining prior permission of RBI.

This circular clarifies that the said restrictions also apply to entities from Hong Kong and Macau. As a result, prior permission of RBI is required to be obtained by entities from Hong Kong and Macau to setup, in India, a Liaison/Branch/Project Offices or any other place of business by whatever name.

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