A foreign corporation, which has secured a contract from an Indian company to execute a project in India, is allowed to establish a project office in India without obtaining prior permission from RBI. Such offices can not undertake or carry on any activity other than the activity relating and incidental to execution of the project. The exchange control regulations prescribe certain additional requirements for setting up project office sans its approval.

The foreign corporation which sets up such a project office is required to furnish a prescribed report to the concerned regional office of RBI under whose jurisdiction the project office is set up. The project office is treated as an extension of the foreign corporation in India and is taxed at the rate applicable to foreign corporations.

Our India Operations Team comprises of professionals who have wide and extensive experience in structuring India entry strategy for many corporates and in advising and assisting on various matters in connection therewith. Our range of services includes :

• Advising on/formulating the entry strategy for India
  
• Structuring the investment in India in the most tax efficient manner after considering benefits available under domestic tax laws and also the benefits under various Tax treaties in order to ensure tax minimization on a global basis
  
• Guidance in respect of various laws, rules and regulations that will have a bearing on setting up of operations in India
  
• Obtainment of clearance from the Reserve Bank of India, where necessary
  
• Advising on the various compliance procedures under relevant laws, rules and regulations including industry specific legal issues
  
• Maintenance of all accounting and other records pertaining to the Project office