RBI issues ‘place of business’ regulations

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On 31 March the Reserve Bank of India (RBI) issued the Foreign Exchange Management (Establishment in India of a branch/liaison/project office or any other place of business) Regulations, 2016 (place of business regulations). The regulations state that no person resident outside India shall set up a branch office, liaison office, project office or a place of business in India without prior RBI approval. This prohibition is subject to certain exceptions stipulated in the regulations. For instance, the following companies do not require prior RBI approval:

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The business law digest is compiled by Nishith Desai Associates (NDA). NDA is a research-based international law firm with offices in Mumbai, New Delhi, Bangalore, Singapore, Silicon Valley and Munich. It specializes in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner.