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Project Office Registration with EAdvisors.

Now getting a project office registration  is easy, hassle fee and quick, With EAdvisors professionals

Drop Query

Drop your query by filing the form given and provide the necessary details to us.

Discussion with Expert

EAdvisors expert will then contact you to discuss about registration process, documents required and resolve your queries.

Drafting of Application

After the discussion session, drafting of all the necessary applications shall be done.

Issuance of Certificate

RBI after verifying all the documents will provide with the authorisation of project office.

INTRODUCTION

Are you familiar with the term Project Office? If not, then here is the guide to everything about the Project Office.Project Office is a kind of entity that allows big foreign companies to come and work in India for expanding their business venture. When a foreign company wishes to execute a project in India for a specific period and for a specific project, Project Office can be established. A proper office for working is constructed in Indian premises only for the project decided as mentioned in the contract. However, the main core business activities are conducted in the foreign nation. Only for expansion purpose, the Project Offices are incorporated by big well-known foreign companies.        It is observed that very rare project offices have been incorporated on the MCA Portal. The reason being is that it requires prior approval from the Reserve Bank of India, which we all know is a really hectic task and a complicated one. Only the big profit-earning foreign companies are generally the ones, moving towards establishing a Project office.Along with RBI Approval, the foreign company has to get itself registered with the Registrar of Companies within the time period of 30 days of the establishment of Project Office in India.

ENTRY ROUTE FOR INVESTMENT

There are two routes for investment to be received by Project Office. One is Reserve Bank Route and another one is Government Route.Reserve Bank Route: This route is applicable when the primary business of the foreign company falls under the criteria where 100 percent Foreign Direct Investment is allowed.Government Route: A foreign entity’s primary business falls under the criteria when 100 percent Foreign Direct Investment is not allowed.

ELIGIBILITY

Here are some conditions for establishing a project office.

  1. For conducting the project of a foreign company, it is necessary that the project is directly funded from abroad;
  2. Also, the fund required for the Project office must be funded by a bilateral or multilateral International Financial Agency;
  3. It is important that an appropriate authority like the Reserve Bank of India (RBI) has cleared the approval for office;
  4. A company in India awarding the contract has been granted a term loan by a Public Financial institution or a bank in India for a project;
All the above-stated conditions are necessary to be complied with, else a foreign company shall approach to the RBI for its approval.NOTE: It is to be noted that project office is prohibited to conduct any other activity other than the decided project of a foreign company. However, incidental and relative activities can be conducted by a Project Office.The project office is treated as a taxable entity in India as it is involved in the execution of a project on a commercial basis.

NECESSARY CONDITIONS

  1. Submit a report within 5 working days to the Director General Police of the state concerned in which the project office is situated after coming into legal existence
  2. Certificate from a Chartered Accountant depicting the project status and certifying that all the necessary accounts maintained by the Project office are duly been audited and all the required activities are in conformity with the clauses given by the Reserve Bank of India. The Certificate is required to be submitted to the AD branch on an annual basis.
  3. Furnish a report to the Regional Office of Reserve Bank through the concerned AD branch within 2 months of the incorporation of the Project office.
  4. Preparing a legal contract of the project for security purpose and to have a valid record of existence of project in India which shall depict formal agreement
  5. Foreign Currency Account. An authorized dealer can open non-interest bearing financial currency accounts only if all the compliances are adhered to. The compliances are as follows:- (i) Project office is set up in India, and the RBI approval has been taken from the concerned Sanctioning Authority concerned. (ii) The contact of the Project office specifically states the clause regarding payment to be made in foreign currency. (iii) Every project office is allowed to open 2 foreign currency accounts, usually one dominated in USD (United States dollar) and other in home currency. But, both the accounts must be maintained under the same AD category- I bank. (iv) The permissible debits and credits in the account shall be as under:
DEBIT: includes all the payment relating to the project and the expendituresThe debits to this account could be raised only after meeting the local expenses of the office and intermittent remittances pending winding up/completion of the project.CREDIT: includes foreign currency receipts from the Project Sanctioning Authority and the remittances from parent/ group company abroad or bilateral/ multilateral International financing agency.The credits to the accounts should represent the funds received from head office through normal banking channels for meeting the expense of the office and/or the rupee amount receivable if any, under the contract and no other amount should be credited with taking the permission taken from the Reserve Bank.

DOCUMENTS REQUIRED

Here are the documents mentioned that need to be submitted to the RBI

  1. Certificate of Incorporation
  2. MOA and AOA attested by Indian Embassy / Notary Public in the country of Registration
  3. Audited Balance sheet of the company
  4. A resolution by the foreign company is required to inform the intention behind establishing the project office in India
  5. A proof depicting that project office is funded by bilateral or multilateral International Financing Agency
  6. A report by the banker stating the relationship between the company and the bank associated
  7. Letter of authority issued by the parent company in regard to the local representative
  8. All the details of the activities conducted in the project office set up in India
  9. Residence proof of the authorized personnel
  10. Copy of passport of the authorized personnel
  11. A letter informing the opening of bank in India
Another set of documents required by the Registrar of Companies (ROC)
  1. Permission from RBI to set up a project office in India
  2. MOA and AOA of the foreign company
  3. Notarized copy of Certificate of Incorporation
  4. Notarized power of attorney stating the name of person being a resident of India and holding the responsibility for accepting all the notices or documents on behalf of the company

APPROVAL FOR PROJECT OFFICE

There are two routes available for setting up a project office. One is taking approval from AD Bank and second one is taking approval from RBI along with GOI.Approval granted by AD Bank : They are allowed by RBI to grant approvals in all cases for establishing project office, unless the application falls under the category which requires specific approval of RBI.Approval granted by RBI along with GOI : Any application filed by a non-resident for setting up a project office shall require approval from RBI in following circumstances where:

  • The applicant is a citizen of Pakistan
  • The applicant is a citizen of Bangladesh, Sri Lanka, Afghanistan, Iran, China, Hong Kong or Macau and the application is filed for setting up a project office in Jammu and Kashmir, North East region and Andaman and Nicobar Islands.
  • The applicant has a business whose business activities involves defence, telecom, private security and information and broadcasting.
  • The applicant is a NGO, Non-Profit Organisation, Body/Agency/Department of a foreign government.
Now comes the companies which need not to obtain approval :
  • Banking company incorporated outside India, establishing their office in India provided prior approval is required under the Bank Regulation Act,1949.
  • An insurance company resident outside India, establishing their office in India provided company must obtain approval from IRDA under Insurance Regulatory and Development Authority Act, 1999.

TENURE

The Project office stay in existence till the project gets fulfilled. After the project is completed, the project office is winded up as its purpose has been accomplished.The applicant is required to inform the AD Bank regarding the date of opening project office. And after the approval is received by the AD Bank, the project office within the time of 6 months must be established.In case the Project Office by any chance is not operated within the tenure of 6 months from the date of approval received by AD Bank then, in that case the validity of approval will expire.Whereas, in case of genuine reason that is beyond the control of anyone, then AD may grant further extension of 6 months.

Project Office Registration

Step by Step Registration Process

Drafting of Documents

First step for project office registration is drafting of necessary application and documents.

Legalizing the documents

Second step includes legalizing the documents.

Filing with RBI

The next step includes filing the drafted applications with the RBI i.e. Reserve Bank of India.

Verification is conducted

RBI then verifies all the documents submitted by the client and go through it.

Receiving RBI approval

When everything is in accordance with the requirement of the Act, RBI is then ready to send approval of Project Office incorporation.

Registration of Foreign Company with ROC

After RBI Approval is granted, the next step is, registration of foreign company under ROC i.e. Registrar of Companies.

Applying for PAN, TAN and Bank Account

After registration under ROC, it is necessary to apply for TAN, PAN and open  a bank account.

Other Registration and License

Not only under the ROC, but there are various other registrations required depending on situation to situation.

Professional advice


Our team of professional are always there at your service. You can contact them and take suggestions when required.

Drafting of Documents


For project office registration, many applications are required to be drafted that is inclusive in the package.

Lowest fee


We believe in providing the best of quality services to our clients and therefore our fee is cost effective for the convenience of all our precious clients.

Solution to all your queries


Our experts is there with you to guide you in the best possible manner.

Registration Certificate


Registration certificate shall be issued after the completion of registration process of Project office.

What you get in this package?

We are offering you ultimate package of registration of  Project Office.

EAdvisors Project Office Registration package provides you professional advice, drafting of documents, lowest fee, solution to all your queries, registration certificate.

Quality Efficient Services

We at EAdvisors are here with our professional services and experts to serve you. We have successfully satisfied our clients with their requirements since a long time and will continue it all time. EAdvisors has 99 % of customer retention ratio.

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24*7 Support

To provide constant support to our customers, we are available on WhatsApp as well as on Email. For consulting us directly you may call or WhatsApp us at: +91 991 0000 833 To resolve your complicated query, contact us through Email Id :info@eadvisors.in

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Dedicated Professional guidance

Professional experts of company registration are here at your service to assist you in incorporating companies. For making it hassle free procedure we will be assisting you a professional who will be there throughout your company registration. Your work is our duty and in the hands of our experts.

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Our work is to provide with best of services and that too with transparency. We aim to make clients that goes long with us and stay satisfied with our variety of services. No hidden charges exist and everything will be informed to you well in advance.

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Timely Completion

With guaranteed 10-12 days registration, we provide our clients with issuance of Certificate by ROC. Considering one day when documents will be received by us from our clients, then other two days for name approval procedure that is considered by ROC and another day for filing application for Incorporation of Company. On 10th day as we commit, will provide you with certificate of incorporation,

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EAdvisors Project Office

EAdvisors offers you various benefits

No Hidden Fees

EAdvisors is a well-known company, popular for its quality work and therefore no hidden or extra is charged by our clients.

 

Fast and Easy

By just sharing your documents with us on WhatsApp or email, you will get your dream company ready within 10 days only.

 

Order Registration

You will be given a Unique Order No. for you to track the status of company registration process. We offer this unique tracking method to given them a sense satisfaction that their work is our utmost priority. 

Secure Payments

Once the registration process gets started and payment is also made, it is our duty and responsibility to keep your payment secure and in return registering your company.

Use Local Currency

Being a company established in India, we will be accepting the payment in Indian Currency through any of the online mode of transfer.

Intelligent Working method

As the world is also getting advance within time, we have also established online way of accepting documents and creating your company.

Frequent Asked Questions

Project Office Registration

A Project office is established to represent the interest of foreign company executing project in India.

No, there is no requirement to obtain UIN (Unique Identification Number)

Contact EAdvisors, the leading professional firm having the expertise in registering companies.

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