Set up a project office in India for executing specific infrastructure and construction projects. Expert assistance for RBI approval and project office registration. Temporary structure for project execution.
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Execute specific infrastructure and construction projects in India.
Temporary structure that can be closed after project completion.
Simplified approval process for project-specific offices.
Expert guidance on project-specific compliance requirements.
Can be easily closed after project completion.
Faster setup process compared to branch offices.
FastLegal streamlines your project office setup process
Prepare project documents, contracts, and parent company certificates.
File application with RBI for project office approval with project details.
Wait for RBI approval (typically 3-4 weeks) for project office setup.
Open bank account, register for taxes, and commence project operations.
A project office is a temporary office set up by a foreign company in India to execute a specific project, typically in infrastructure, construction, or engineering sectors. It is established for the duration of the project and can be closed after completion.
Project offices are typically set up for infrastructure projects, construction projects, engineering projects, and other large-scale projects that require on-site presence in India. The project must have a definite timeline and scope.
Yes, RBI approval is required for setting up a project office in India. However, if the project is funded by an Indian bank or financial institution, prior RBI approval may not be required, but post-facto reporting is mandatory.
Required documents include: Project contract/agreement, Certificate of Incorporation of parent company, Board Resolution, Financial Statements, Project details and timeline, and other documents as specified by RBI.
A project office can operate for the duration of the project. It must be closed within 6 months of project completion, unless extended with RBI approval.
Project offices are taxed on their Indian income at applicable rates. They are subject to GST, TDS, and other Indian tax laws. Tax obligations depend on the nature and duration of the project.
Yes, a project office can be converted to a branch office with RBI approval if the foreign company wishes to continue operations in India after project completion.
A project office is temporary and project-specific, while a branch office is a permanent structure for ongoing business operations. Project offices are typically closed after project completion, while branch offices continue operations.
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