Branch offices are allowed for companies that are involved in manufacturing as well as trading businesses in foreign countries. They need to get prior approval from the RBI. The activities of the branch offices in India are restricted to the following activities alone.
Manage the export/import activities
Conduct research activities in the same field as the parent company is involved.
Offer consultancy services to the customers
Facilitate collaboration with Indian companies.
Function as the representative/agent of the parent company in India for facilitating the buying/selling activities.
Offer technical support/solutions to various products supplied in India by the foreign parent company.
Offer necessary Information Technology (IT) services and develop necessary software.
The profit acquired by the approved branch offices can be remitted outside India, after paying the net applicable taxes and meeting other formalities as per the RBI guidelines. read more....
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