RESERVE BANK OF INDIA
(FOREIGN EXCHANGE DEPARTMENT)
CENTRAL OFFICE
MUMBAI - 400 001
Notification No. FEMA. 218/2011-RB
Dated: January 19, 2011
Foreign Exchange Management (Establishment in India of Branch or
Office or Other Place of Business) (Amendment) Regulations, 2011
In exercise of the powers conferred by sub section (6) of Section 6 of the
Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank makes the
following amendments to the Foreign Exchange Management (Establishment in India
of Branch or Office or Other Place of Business) Regulations, 2000,
Notification
No. FEMA 22/2000-RB dated 3rd May, 2000, namely:
1. Short Title and Commencement:-
(i) These Regulations may be called the Foreign Exchange Management
(Establishment in India of Branch or Office or other Place of Business)
(Amendment) Regulations, 2011.
(ii) They shall be deemed to have come into force from February 01, 2010. @
2. Amendment to the Regulations:-
In the Foreign Exchange Management (Establishment in India of Branch or Office
or other Place of Business) Regulations, 2000 (Notification No.FEMA.22/2000-RB
dated May 3, 2000),
(i) In Regulation 2, after clause (a), the following clause shall be inserted,
namely-
"(aa)" Authorised Dealer " means a person authorised as an authorised dealer
under sub-section (1) of section 10 of the Act. "
(ii) in Regulation 5,
for clause (i), the following shall be substituted, namely –
"(i) A person resident outside India desiring to establish a branch or liaison
office in India shall apply to the Reserve Bank through an Authorised Dealer, in
form FNC as amended by the Reserve Bank of India from time to time. "
(b) after clause (i), the following shall be inserted, namely –
"(ia) A person resident outside India permitted by the Reserve Bank under this
regulation to establish a liaison office in India, may apply to the authorised
dealer concerned for extension of the validity period of approval, and upon
receipt of such an application, the authorised dealer concerned may extend the
validity period of approval subject to such directions issued by the Reserve
Bank in this regard, from time to time."
(Salim Gangadharan)
Chief General Manager-in-Charge
Foot Note:
(i) @ It is clarified that no person will be adversely affected as a result
of retrospective effect being given to these Regulations.
(ii) The Principal Regulations were published in the Official Gazette vide
No.G.S.R.408(E) dated May 8, 2000 in Part II, Section 3, sub-section (i) and
subsequently amended as under :-
(a) No.GSR.698(E) dated 01.09.2003
(b) No.GSR.847(E) dated 29.10.2003
(c) No.GSR.336(E) dated 27.05.2005
FNC
(See regulation 5)
(The application form shall be completed and submitted to the AD Category - I
bank designated by the applicant, for onward transmission to the Chief General
Manager-in -Charge, Reserve Bank, Foreign Exchange Department, Foreign
Investment Division, Central Office, Fort, Mumbai – 400001 along with the
documents mentioned in item (viii) of the Declaration).
| No |
Details |
Particulars |
| 1. |
Full name and address of theapplicant.
Date and Place of incorporation / registration
Telephone Number(s)
Fax Number(s)
E-mail ID |
|
| 2. |
Details of capital
i) Paid-up capital
ii) Free Reserves/Retained earnings as per last audited Balance Sheet/Financial Statement
iii) Intangible assets, if any |
|
| 3. |
Brief description of the activities of the applicant. |
|
| 4. |
i) Value of goods imported from and / or exported to
India by the applicant during each of the last three years:
Imports from India
b) Exports to India
ii) Particulars of existing arrangements if any, for
representing the company in India.
iii) Particulars of the proposed Liaison/ Branch Office:
a) Details of the activities/ services proposed to be
undertaken/ rendered by the office.
b) Place where the office will be located.
c) Phone number
d) E-mail ID
e) Expected number of employees (with number of foreigners) |
|
| 5. |
i) Name and address of the Banker of the applicant in the home country
ii) Telephone & Fax Number
iii) E-mail ID |
|
| 6. |
Any other information which the applicant company
wishes to furnish in support of this application. |
|
| 7. |
For Non-profit / Non-Government Organisations:
(i) Details of activities carried out in the host country and other countries by the applicant organization.
(ii) Expected level of funding for operations in India.
(iii) Copies of the bye-laws, Articles of Association of the organisation. |
|
DECLARATION
We hereby declare that:
- The particulars given above are true and correct to the best of our knowledge
and belief.
- Our activities in India would be confined to the activities indicated in
column 4(iii) (a) above.
- If we shift the office to another place within the city, we shall intimate
the designated AD Category - I bank and the Reserve Bank. In the event of
shifting the Office to any other city in India, prior approval of the Reserve
Bank will be obtained.
- We will abide by the terms and conditions that may be stipulated by the
Government of India / Reserve Bank / designated AD Category - I bank from time
to time.
- We, hereby commit that we are agreeable to a report / opinion sought from our
bankers abroad by the Government of India /Reserve Bank.
- We understand that the approval, if granted, is from FEMA angle only. Any
other approvals / clearances, statutory or otherwise, required from any other
Government Authority/ Department/ Ministry will be obtained before commencement
of operations in India.
- We have no objection to the Reserve Bank placing the details of approval in
public domain.
- We enclose the following documents:
- Copy of the Certificate of Incorporation / Registration attested by the Notary
Public in the country of registration
[If the original Certificate is in a language other than in English, the same
may be translated into English and notarized as above and cross
verified/attested by the Indian Embassy/ Consulate in the home country].
- Latest Audited Balance sheet of the applicant company.
[If the applicants’ home country laws/regulations do not insist on auditing of
accounts, an Account Statement certified by a Certified Public Accountant (CPA)
or any Registered Accounts Practitioner by any name, clearly showing the net
worth may be submitted]
- Bankers' Report from the applicant’s banker in the host country / country of
registration showing the number of years the applicant has had banking relations
with that bank.
(Signature of Authorised Official
of the Applicant Company)
Name:
Designation:
Place:
Date: