Project Office
Foreign Companies planning to undertake and execute specific projects in India can set up temporary project/site offices in India. A Project Office is essentially a branch office with the limited objective of executing specified projects in India. Foreign companies engaged in the "turnkey" construction or installation generally set up project offices for their smooth and profitable operation in India. For setting up a project office in India, a general approval has been given by the RBI subject to the complete fulfillment of certain conditions. Such permission is generally accorded in respect of projects approved by the appropriate authorities or where the projects are financed by Indian bank/Financial Institution or a multilateral/ bilateral international financial institution.
