S&T Corp. is a company registered in Germany. The company desires to open a Branch Office in India. Advise S&T Corp. the activities permitted for a branch office in India of a person resident outside India under
CS Executive · Setting Up of Business, Industrial and Labour Laws · PYQS · December 2023
S&T Corp. is a company registered in Germany. The company desires to open a Branch Office in India. Advise S&T Corp. the activities permitted for a branch office in India of a person resident outside India under the Foreign Exchange Management Act, 1999 read with Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) Regulations, 2016.
Answer & Explanation:
Permitted activities for a branch office in India of a person resident outside India under the Foreign Exchange Management Act, 1999 read with Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) Regulations, 2016: Export/import of goods; Rendering professional or consultancy services (other than practice of legal profession in any matter); Carrying out research work in which the parent company is engaged; Promoting technical or financial collaborations between Indian companies and parent or overseas group company; Representing the parent company in India and acting as buying/selling agent in India; Rendering services in Information Technology and development of software in India; Rendering technical support to the products supplied by parent/group companies; Representing a foreign airline/shipping company. Accordingly, S&T Corp. is advised.
Topics: Foreign Exchange Management
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