Branch Office in India

What activities can a branch office perform in India?

The branch office are often opened by any foreign company. The activities it can undertake are mentioned below:

• 1 Export/Import of products
• 2 Rendering consultancy services
• 3 Carrying out research work, during which the foreign parent company is engaged.
• 4 Promoting technical or financial collaborations between Indian companies and parent or overseas group company.
• 5 Representing the parent company in India and acting as buying/selling agents in India.
• 6 Rendering services in Information Technology and development of software in India.
• 7 Rendering technical support to the products supplied by the parent/ group companies.
• 8 A branch office cannot perform manufacturing activities on its own but can subcontract these to any manufacturer based in India. Branch Offices can remit the profits to its parent company after paying taxes on an equivalent (RBI).

Who is that the approving authority for branch office?
Reserve bank of India is that the nodal authority to urge the permission to start out a branch office in India

How much time does it fancy setup a branch office in India?
The Branch office could also be registered in 45–60 days

What are the pre requisites to start out a branch office in India?

• 1 The name of Indian Branch office should be same as that of a parent company.
• 2 The Branch is simply extension of the exiting company within the foreign country.
• 3 All the expenses of the BRANCH office are met by the top office, if it doesn’t have the revenue from Indian operations.
• 4 The foreign parent company getting to setup a Branch office should have a profitable diary during immediately preceding 5 years.
• 5 The Net worth of the foreign company should be quite or adequate to USD 100,000. The networth certificate should be
• 6 A branch office is is suitable for foreign companies looking to setup a short lived office in India and not interested or not getting to have future plans for the Indian operations; except banking, shipping and airlines etc. mentioned above.

Documents required for forming a Branch Office in India
The application for forming a branch office is to tend to the bank in India. The bank then submits the appliance to RBI for approval.

The following documents are required to open a branch office in India:

• A Indian resident who are going to be liable for branch operations and can be susceptible to make the tax payments and regular compliances Form FNC 1 (Three copies)
• 1 Letter from the principal officer of the Parent company to RBI.
• 2 Letter of authority from the parent company in favor of Local Representative.
• 3 Letter of authority/ Resolution from parent company for fixing BRANCH office in India.
• 4 Comfort letter from the parent company meaning to support the operation in India.
• 5 Two copies of English version of the Certificate of Incorporation, Memorandum & Articles of association (Charter Document) of the parent company duly attested by the Indian embassy or notary within the country of registration.
• 6 Certification of Incorporation — Translated & Duly Notarized and properly authenticated.
• 7 The Latest audited record and annual accounts of parent company duly Translated notarized for past Three years and properly authenticated
• 8 Name, Address, email ID and phone number of the authorized person in Home Country.
• 9 Details of Bankers of the Organization the Country of Origin along side the checking account number
• 10 Commitment from the Organization to the effect that it’ll be hospitable report / opinion sought from its banker by the govt of India / Federal Reserve Bank of India
• 11 Expected funding level for operations in India.
• 12 Details concerning address of the proposed local office, number of persons likely to be used , number of Foreigners among such employees and address of the top of the Local office, if decided
• 13 Details of Activity administered in Home Country by the applicant organization in short about the merchandise and services of company in short .
• 14 Bankers Certificate from the bank of the parent company about the small print of parent company and duration of banking with parent company
• 15 Latest Proof of identity of all the administrators — Properly Certified by Banker in Home Country and duly authenticated
• 16 Latest Proof of address all of Directors — Properly Certified by Banker in Home Country and duly authenticated
• 17 Details of the Individuals / Company holding more 10% of Equity
• 18 Structure of the Organization and its Shareholding pattern
• 19 Complete KYC of Shareholders holding quite 10% Equity within the Applicant Company
• 20 Resolution for Opening up checking account with the Banker
• 21 Duly Signed checking account Opening Form for Indian Bank
• 22 The application for BRANCH office Licenses is approved by the RBI, but as per the recent changes the applications for BRANCH office are routed through the Authorized Dealers (AD). thanks to this the timeline for fixing the BRANCH office has increased tremendously. Further the documentation required for an equivalent has also increased to an excellent extent.

Post Incorporation Procedural Requirements
After Incorporation, the subsequent registrations also are necessary for a branch office:

• 1 Permanent account number — PAN
• 2 Tax deduction number — tan number Shop & establishment
• 3 Registration GST Registration if providing services to Indian Customers
• 4 What are the compliances after the Branch Office is made in India?

Every year a branch office is required to undertake the subsequent activities:

• 1 Book Keeping
• 2 Audit
• 3 Annual activity Certificate with RBI
• 4 Filling of financials with Registrar of Companies

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How To Change A Company Name?

Changing the name of a corporation cannot continue without complying with the wants of selecting a corporation name set by the Registrar of Companies.

Changing a corporation Name

Getting a corporation ’s name changed by the Registrar of Companies (RoC) is not any small matter! Executing a company name search will assist you select an appropriate name. an equivalent rules and laws apply to vary a person’s name, as well. The procedure to vary the corporate name is well-defined and is to be followed strictly. Hence, it's essential to follow all the wants of the registrar of companies in India.

Benefits To Changing name

1. once you Can’t Get A Copyright: Acquiring copyright and trademark is important to the success of a business because it forms a part of its branding and marketing strategy. However, if the present name of the corporate cannot get copyright it'll affect revenue streams and future earning potential. for brand spanking new names, check name availability, before you opt to vary the corporate name.

2. Memorable Business Name: From a marketing and a business standpoint, memorability is everything when it involves the name of the corporate . So when registering the name of the corporate with the registrar of companies, confirm you select a reputation that's easy to recollect , and also the one that's available as per a corporation name check.

3. Repositioning: To change name or a brand’s name, especially when your business is prepared to maneuver into a replacement market helps with the concept of repositioning. this is often done to specialise in one particular product or niche that's doing better than others, or when entering a replacement market.

4. Specific product or service: This occurs when a business gains popularity for one particular product or service. For that reason, a business or a brand are often renamed to maximize their popularity and generate more demand, or sales.

5. Location Friendly Name: When it involves choosing the way to change name , one effortless thanks to move forward is to think about the situation . If your business is moving to a location then it might be prudent to rename your business to something that's more friendly and acceptable with the situation of the business.

6. Change Of Ownership: When a business passes ownership, it's only natural for the new owner to see name availability, and alter name . For this purpose, the owner will approach the registrar of companies India to vary his/her name .

Checklist For Updating name , After name Change
1. Updating your social media accounts
2. Update Email footers
3. Name change on stationery – letterheads, business cards, etc.
4. Website changes
5. Informing customers and suppliers
6. Voicemails, messages on answering machines
7. Company registers and Articles of Association
8. Update your computer systems
9. Employment Contracts
10. Update business licenses or permits
11. Supplier Contracts

How To Execute a corporation Name Search

One of the foremost important steps before registering a corporation name with the registrar of companies is to make sure to see name availability.

It is advised to shortlist four to 5 business names before checking availability, within the event a number of those names are already taken or in use. When registering your company with the registrar of companies, the Ministry of Corporate Affairs will authorize the name to be used supported existing rules and regulations.

In the event, a brand has already been trademarked, you'll need a NOC certificate from the owner of the name .

Documents Required For name Change When a corporation decides to vary its name, a resolution is passed among the board of directors/members of the corporate . After which, the subsequent two documents are filed with the registrar of companies;

MGT-14:

This e-form is filed with the registrar of companies on the Ministry of Corporate Affairs portal, thirty days after filing the resolution to vary the corporate name. along side the MGT-14 form, the subsequent forms need to be attached also .

1. Notice of Extraordinary general meeting (EGM).
2. Copy of special resolution passed within the EGM.
3. Copy of altered Memorandum of Association and Article of Association, with the new name .

INC-24

After the MGT-14 is approved, the INC-24 e-form is filed within a period of 30 days with the registrar of companies on the Ministry of Corporate Affairs portal. along side the INC-24 form, the subsequent forms need to be attached also .
1. Extract of the Minutes of the Extraordinary general meeting of the corporate
2. Notice of EGM
3. Copy of resolution agreement
4. Copy of altered MOA and AOA, with the new name .

Source: How To Change A Company Name?