Project Office Registration
A Project Office refers to a concentrated division within an industry that a foreign firm in India establishes. It is mainly founded to execute a project in India. This type of Project Office Registration is mainly used for short-term projects. This spares the foreign business from establishing a full-fledged subsidiary in order to have a restricted presence in India.
Overview of Project Office Registration
A project office is a location of business where a foreign corporation carrying out a project in India can have its interests represented.
If the goal is to have a presence for a short time, one of the best ways for international enterprises to start up shop in India is to open a project office. It is effectively a branch office created with the express intent of carrying out a certain project.
Only with the Reserve Bank of India's approval may a foreign corporation establish a project office in India. In order to begin a project, international corporations must first sign a contract with an Indian company before establishing a project office in India. According to RBI recommendations and the Companies Act of 2013, a foreign firm that wants to open a project office in India must register with the Registrar of Companies (ROC) and follow specific procedural requirements.