Project Office is the temporary type of office which is used to execute specific projects in India by foreign companies. Go Company provides services for establishment of such offices of foreign companies in india. All the services required for project office registration in india are available at Go Company at affordable prices.
- To establish a Project Office in India, one should have approval for the concerned project sanctioning authority and permission of the Reserve Bank of India.
- For payment in foreign currency, the contract should be provided under which the project had been sanctioned.
- Two foreign currency accounts are allowed for each project office, one of those is denominated in USD and other one in home currency and both should be maintained with the same AD Category-I bank.
- After completion of the project, both the foreign currency accounts should be closed.