9B.2
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Temporary Site/Project Offices Abroad
Indian firms/companies executing contracts/projects abroad with the approval of the appropriate authority are permitted under a general permission granted by Reserve Bank to set up site/project offices abroad provided that such offices are maintained out of project receipts and remittances from India are not required. These offices are required to be closed down and surplus foreign exchange earnings repatriated to India after completion of the project (See paragraph D.1 of Memorandum PEM).