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The Reserve Bank of India amends the Foreign Exchange Management Regulations 2016 for foreign entities establishing a branch office, liaison office, project office, or other place of business in India. The amendment applies to applicants that are a Non-Government Organisation, Non-Profit Organisation, or a body, agency, or department of a foreign government. Such an entity must obtain a certificate of registration under the Foreign Contribution Regulation Act 2010 when it engages in activities covered under that Act, and it must not seek permission under Regulation 5. Applicants must also declare in Form FNC that they will not undertake activities covered under the Foreign Contribution Regulation Act 2010. Any misrepresentation makes the approval void ab initio and withdraws the approval without further notice.
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RESERVE BANK OF INDIA (FOREIGN EXCHANGE DEPARTMENT) CENTRAL OFFICE MUMBAI - 400 001
Notification No. FEMA 22(R)(1)/2018-RB
August 31, 2018
Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) (Amendment) Regulations, 2018
In exercise of the powers conferred by sub section (6) of Section 6 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank makes the following amendments to the Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) Regulations, 2016, Notification No. FEMA 22(R)/2016-RB dated March 31, 2016, namely:
“We will not undertake either partly or fully, any activity that is covered under Foreign Contribution Regulation Act, 2010 (FCRA) and we understand that any misrepresentation made or false information furnished by us in this behalf would render the approval granted under the Foreign Exchange Management (Establishment in India of a branch office or liaison office or a project office or any other place of business) Regulations, 2016, automatically as void ab initio and such approval by the Reserve Bank shall stand withdrawn without any further notice”.
(R. K. Moolchandani) Chief General Manager
Foot Note:- The Principal Regulations were published in the Official Gazette vide G.S.R.No.384 (E) dated March 31, 2016 in Part II, Section 3, sub-Section (i). G.S.R. No. 827(E) dated 31.08.2018.
