Process to Incorporate Project Office In India

Companies Next08 Aug, 2023Business

Setting up a Project Office (PO) in India is a strategic choice for foreign companies aiming to execute time-bound projects. This process involves obtaining approval from the Reserve Bank of India (RBI) in specific cases and adhering to eligibility criteria. The application is submitted through a designated bank, along with essential documents, including company details, project contracts, and financial evidence. Once approved, the foreign entity is allotted a Unique Identification Number (UIN) and can establish the PO. Within 30 days of PO setup, registration with the Ministry of Corporate Affairs (MCA) is required. This process ensures compliance and facilitates successful project execution within India