The steps to open a representative office in India
Setting up a representative office in India requires taking into account the following steps:
- Meet the eligibility criteria
- Send an application
- File Document
- Setting up a bank account
Meet the eligibility criteria
The applicant must, first and foremost, meet all of the aforementioned conditions. The representative office’s staffing levels, revenue, and turnover must all meet the authority’s standards.
Send an Application
The application must be submitted to the appropriate regulatory authority in India if the applicant satisfies all the requirements for opening a representative office in India. There are particular documents that must be presented with the application.
The applicant would then need to submit the necessary paperwork, as specified by the authority.
- The incorporation certificate
- Statement of Registration
- The Company’s Articles of Association and Memorandum of Association
- Copy of the audit report and accounts maintained by the parent company
- Conditions for the Representative Office’s in India to Operate
- whatever other paperwork the authority may require.
English must be used in all of the materials submitted. Documents of this nature should be translated if they are not in English. Additionally, the authorities must be given copies of the translation.
The authorities would assess the application and the submitted papers in the following phase. The application would be authorised by the relevant authority if there were no inconsistencies with it. Usually, it takes the authority seven to ten working days to approve something. An official letter of approval would be sent to the applicant’s registered email address informing them of the authority’s approval. The validity of this representative office’s registration certificate is for a year. This certificate must be renewed every year. It must be done at least seven days before the certificate expiration.
Setting up a bank account
Once the applicant has the letter of approval, they can submit it to the appropriate bank for opening. An Indian corporate bank account can typically be opened in two to ten working days. The applicant must conduct research on the top banks before applying for a business bank account.
So, in order to open a representative office in India, the applicant must adhere to the method and qualifying conditions listed above.
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