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What is Liaison Office of a Foreign Company ?
A Liaison Office (LO) functions as a representative office set up primarily to explore and understand the business and investment climate. A Liaison Office can undertake only liaison activities; it acts as a communication channel between the Head Office abroad and parties in India.
Eligibility for Registering Liaison Office of a Foreign Company
- Must receive specific approval from the Reserve Bank of India’s (RBI) Foreign Exchange Department to operate a liaison office in the country
- Shall obtain approval from the Insurance Regulatory and Development Authority (IRDA) for establishing in insurance sector
- Shall obtain approval from the Department of Banking Regulation (DBR), RBI in case of establishing in the banking sector
- Must have a three-year record of profitable operations in the home country
- Must have a minimum net worth of US$50,000 verified by the most recent audited balance sheet or account statement
Key Features & Benefits of Liaison Office of a Foreign Company
Channelizing
The parent company through the Liaison Office gets a platform to promote its products and services in India.
Import & Export
The parent company can easily promote export import from/to India.
Collaborations
With the representation in India, the parent company can go forward with promoting technical/financial collaborations with companies in India.
Process for Registering Liaison Office of a Foreign Company
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Documents Required for Registering Liaison Office of a Foreign Company
Following documents are required for registering Liaison Office:
- 2 Copies of Certificate of Incorporation / Registration (notarized and attested by Indian Embassy) (One copy each for RBI & ROC). If it is in a language other than English then Translation of the same notarized and attested by Indian Embassy is required.
- 2 Copies of Memorandum & Articles of Association (English Translation) notarized and attested by Indian Embassy
- Details of Last Three Years Import Into / Export From India (On letterhead, signed with a stamp, five copies)
- Latest 3 years Audited Balance Sheet (English translation) notarized/attested by Indian Embassy
- Details of authorized representatives.
- Details of existing Indian Clients, if any
- Details of products/services to be rendered in India by the parent company. Also, provide some literature like brochures/catalogues of products and literature on the company, if any. Indian regulators (RBI) love this literature and it helps in getting the process completed speedily
- Regulatory and legal Forms/ documents.
- Details of Activities to be undertaken in India.
- Proof of Registered Address.