ÿþ<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> <meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" /> <title>Indo European Business Forum</title> <link href="css/iebf.css" rel="stylesheet" type="text/css" /> <!--Script For dropdown menus --> <link href="css/ddsmoothmenu.css" rel="stylesheet" type="text/css" /> <script type="text/javascript" src="js/jquery.min.js"></script> <script type="text/javascript" src="js/ddsmoothmenu.js"> /*********************************************** * Smooth Navigational Menu- (c) Dynamic Drive DHTML code library (www.dynamicdrive.com) * This notice MUST stay intact for legal use * Visit Dynamic Drive at http://www.dynamicdrive.com/ for full source code ***********************************************/ </script> <script type="text/javascript"> ddsmoothmenu.init({ mainmenuid: "smoothmenu1", //menu DIV id orientation: 'h', //Horizontal or vertical menu: Set to "h" or "v" classname: 'ddsmoothmenu', //class added to menu's outer DIV //customtheme: ["#1c5a80", "#18374a"], contentsource: "markup" //"markup" or ["container_id", "path_to_menu_file"] }) </script> <!--Script For dropdown menus --> <script type="text/javascript" src="js/fadeslideshow.js"> /*********************************************** * Ultimate Fade In Slideshow v2.0- (c) Dynamic Drive DHTML code library (www.dynamicdrive.com) * This notice MUST stay intact for legal use * Visit Dynamic Drive at http://www.dynamicdrive.com/ for this script and 100s more ***********************************************/ </script> <link href="css/contentslider.css" rel="stylesheet" type="text/css" /> <script type="text/javascript" src="js/contentslider.js"> /*********************************************** * Featured Content Slider- (c) Dynamic Drive DHTML code library (www.dynamicdrive.com) * This notice MUST stay intact for legal use * Visit Dynamic Drive at http://www.dynamicdrive.com/ for this script and 100s more ***********************************************/ </script> </head> <body> <table width="1002" border="0" align="center" cellpadding="0" cellspacing="0"> <tr> <td><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="11"><img src="images/tl.jpg" alt="" /></td> <td class="top"><img src="images/dot.gif" alt="" width="1" height="1" /></td> <td width="11"><img src="images/tr.jpg" alt="" /></td> </tr> <tr> <td class="left">&nbsp;</td> <td> <table width="100%" border="0" cellspacing="0" cellpadding="0"> <!--Header part --> <tr> <td><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td align="right" class="blackbg white11 datepad"> <span><strong> <a href="#" style="text-decoration: none; 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Some foreign companies establish a liaison office as an intermediate step before entering into a Joint Venture (JV) or setting up a Wholly Owned Subsidiary (WOS). The establishment of liaison offices is governed by the Reserve Bank of India (RBI). By its very nature, a liaison office in India can act only as a communicative channel for the parent company to supply information on the Indian market and customers, and cannot carry on any business activities in India. As a result, the liaison office cannot generate any revenue in India and all the expenses of running and maintenance of the Indian office are required to be met out of the foreign exchange remitted from abroad. <br /> <span>'Liaison Office'</span> means a place of business to act as a channel of communication between the Principal place of business or Head Office by whatever name called and entities in India but which does not undertake any commercial /trading/ industrial activity, directly or indirectly, and maintains itself out of inward remittances received from abroad through normal banking channel; </td></tr> <tr><td><h1>Permitted activities for a Liaison Office in India</h1> <br /> <ol type="i"> <li>Representing in India the parent company/group companies.</li> <li>Promoting export import from/to India.</li> <li> Promoting technical/financial collaborations between parent/group companies and companies in India.</li> <li> Acting as a communication channel between the parent company and Indian companies.</li> </ol> </td></tr><br /> <tr><td>Procedure to Set up a Liaison Office in India.</td></tr><br /> <tr><td>Foreign companies intending to set up a liaison office in India for undertaking liaison activities on behalf of the parent company or foreign trading companies intending to set up liaison offices in India for promotion of exports from India should submit their application in Form FNC 1 to the Central office of RBI, Mumbai (Foreign Investment Division). In approved cases, permission is granted initially for a period of 3 years. However, application for renewal of application should be made to the concerned regional office of the RBI under whose jurisdiction the office is situated.</td></tr><br /> <tr><td><h1>Form FNC 1</h1></td></tr> <tr><td> 1. The application should be completed in quadruplicate and submitted to the Chief General Manager, Exchange Control Department (Foreign Investment Division), RBI, Central office, Mumbai - 400 023.<br /> 2. English version of the certificate of incorporation / registration attested by Indian Embassy / Notary public in the country of registration.<br /> 3. Latest balance sheet of the applicant company / firm. <br /> 4. Certified photo-copy of the agency Agreement, if any, with parties in India. <br /> 5. Photo-copy of the Agreement / draft- Agreement / correspondence indicating the terms of appointment of the proposed representative duly authenticated by the applicant. <br /> 6. Where applicable, certified photocopy of Government of India s approval for undertaking projects in India. <br /> 7. Where applicable, certified photocopy of the contract / Agreement for undertaking activities / rendering services. <br /> </td></tr> <tr><td><h1>Conditions Imposed While Granting Permission</h1></td></tr> <tr><td> The conditions precedent for setting a liaison office in India are as follows : <br /> 1. No commission / fee will be charged or any other remuneration received by the Indian office of the foreign company for its liaison activities in India. <br /> 2. Except the liaison work, the office will not undertake any activity of a trading, commercial or industrial nature without the prior permission of RBI <br /> 3. The entire expenses of the Indian office will be met exclusively by remittance from abroad through normal banking channels. </td></tr> <tr><td><h1>Zero Tax Liability</h1></td></tr> <tr><td> Since a liaison office is not allowed to earn any income, there is no tax liability of a liaison office or its parent company for this representative office. </td></tr> <tr><td><h1>Maintenance of Bank Accounts</h1></td></tr>] <tr><td> A liaison office in India is permitted to maintain and operate bank accounts in India but only with authorised dealers. While opening such rupee accounts in the name of office, bank obtains an undertaking in prescribed form QA22 duly signed by all the persons who are authorised to operate on the accounts. Following are the documents required for opening such account: 1. Account opening Form duly completed and signed by all authorised signatories.<br /> 2. Complete address and telephone number filled in account opening Form.<br /> 3. Account opening Form duly introduced (name, account No. and signature of the introducer).<br /> 4. Specimen signature (s) on the signature card by all authorised signatories.<br /> 5. One photograph of each authorised signatory.<br /> 6. Board resolution authorising opening of account (duly attested by Notary / Banker).<br /> 7. Copy of the Government approval for setting up of a liaison office / branch office in India or RBI approval to carry on activity in India.<br /> 8. Memorandum and Articles of Association (duly certified as true copy).<br /> 9. If the Memorandum and Articles of Association is in any other language other than English, a copy of Memorandum and Articles of Association duly translated in English and Notarised.<br /> 10. List of Directors along with their photographs.<br /> 11. Copy of Power of Attorney vesting authority to operate the account in case of liaison / branch office (duly Notarised).<br /> 12. Form QA - 22 (in duplicate).<br /> 13. 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class="padtb10" colspan="2"><img src="images/divider_news.gif" alt="" /></td></tr> <tr><td colspan=2><span class="displayblock blue12">Private equity: global money in Indian industry</span></td></tr> <tr><td><img src="vijay_goel.jpeg"/></td><td>S A SEPARATE ASSET CLASS, PRIVATE equity has grown remarkably over the past few years....</td></tr> <tr><td colspan=2><a href="B.html">read more</a></td></tr> <tr><td class="padtb10" colspan="2"><img src="images/divider_news.gif" alt="" /></td></tr> <tr><td colspan=2><span class="displayblock blue12">Indian hospitality: the industry, regulations and incentives</span></td></tr> <tr><td><img src="vijay_goel.jpeg"/></td><td>HOSPITALITY IS ONE OF THE OLDEST AND most complex commercial activities in the world...... </td></tr> <tr><td colspan=2><a href="C.html">read more</a></td></tr> <tr><td class="padtb10" colspan="2"><img src="images/divider_news.gif" alt="" /></td></tr> </table> </td> </tr> <tr> </tr> <tr> <td><img src="images/dot.gif" alt="" width="1" height="7" /></td> </tr> <tr> <td><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="11"><img src="images/greybxlft.jpg" alt="" width="11" height="39" /></td> <td class="greybxmid white17">Advisory Board Members</td> <td width="11"> <img alt="" class="style1" height="39" src="images/greybxrgt.jpg" width="11" /></td> </tr> </table> </td> </tr> <tr> <td class="greybxmidbrd"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td> <div id="slider1" class="sliderwrapper"> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img1.jpg" /></td> <td> <span class="black15">Vijay Goel</span><br /> <br /> <span class="arialblack11">Founder of <br /> <strong>Web</strong>: <a class="bluelink" href="www.singhania.com">IEBF<br /> www.singhania.com</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img2.jpg" /></td> <td> <span class="black15">Lord Mackenzie</span><br /> <br /> <span class="arialblack11">Lord Mackenzie of <br />Framwellgate Chairman<br /> <strong>Web</strong>: <a class="bluelink" href="www.haymarketco.com"><br />www.haymarketco.com</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img3.jpg" /></td> <td> <span class="black15">Lord Raj Loomba</span><br /> <span class="arialblack11">Founder Chairman of <br />Rinku Group plc,<br />Founder-Loomba Trust.<br /> <a class="bluelink" href="www.rinku.co.uk">www.rinku.co.uk</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img4.jpg" /></td> <td> <span class="black15">Dr.Rami Ranger</span><br /> <br /> <span class="arialblack11">Sun Mark Ltd<br /> <strong>Web</strong>: <a class="bluelink" href="www.sunmark.co.uk"><br />www.sunmark.co.uk</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img5.jpg" /></td> <td> <span class="black15">Lord G.K.Noon</span><br /> <span class="arialblack11">Boss of utilities<br /> giant Centrica & Asian <br />food G.K.Noon<br /> <strong>Web</strong>: <a class="bluelink" href="www.centrica.co.uk"><br />www.centrica.co.uk</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img6.jpg" /></td> <td> <span class="black15">S. Jagadeeshan</span><br /> <span class="arialblack11">Former Minister,<br />High Commission of<br />India,London<br /> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img7.jpg" /></td> <td> <span class="black15">Saroj Poddar</span><br /> <br /> <span class="arialblack11">X-Chairman of <br />Gillette India Ltd<br /> <strong>Web</strong>: <a class="bluelink" href="www.poddarheritage.com">www.poddarheritage.com</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img8.jpg" /></td> <td> <span class="black15">Pushpendrasinh <br />Jhala</span><br /> <br /> <span class="arialblack11">CEO,Nivid Technology<br />Solutions Co-Founder-IEBF<br /> <strong>Web</strong>: <a class="bluelink" href="www.nivid.net">www.nivid.net</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img9.jpg" /></td> <td> <span class="black15">Nikhil Gandhi</span><br /> <br /> <span class="arialblack11">Group Chairman, SKIL<br /> Infrastructure Ltd. Group<br /> <strong>Web</strong>: <a class="bluelink" href="www.skilgroup.co.in"><br />www.skilgroup.co.in</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img10.jpg" /></td> <td> <span class="black15">Marsha Singh</span><br /> <br /> <span class="arialblack11">MP House of<br /> Commons London<br /> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img11.jpg" /></td> <td> <span class="black15">Manoj Prasad</span><br /> <span class="arialblack11">CEO &<br /> Managing Partner,<br /> Signature Capital PTE.; <br /> <strong>Web</strong>: <a class="bluelink" href="www.signatureamc.com"><br />www.signatureamc.com</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img12.jpg" /></td> <td> <span class="black15">Mohit Burman</span><br /> <br /> <span class="arialblack11">Managing Director,<br /> Dabur India<br /> <strong>Web</strong>: <a class="bluelink" href="www.dabur.com">www.dabur.com</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img13.jpg" /></td> <td> <span class="black15">Lord King</span><br /> <br /> <span class="arialblack11">Lord King of<br /> West Bromwich<br /> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img14.jpg" /></td> <td> <span class="black15">Kishore Lulla</span><br /> <span class="arialblack11">Chairman and Chief <br />Executive Officer, <br />Eros International Plc</br> <a class="bluelink" href="www.erosentertainment.com">www.erosentertainment.com</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img16.jpg" /></td> <td> <span class="black15">Jayant Thaker</span><br /> <br /> <span class="arialblack11">Chairman,<br /> Thaker Properties<br /> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img17.jpg" /></td> <td> <span class="black15">H.P. Kanoria</span><br /> <br /> <span class="arialblack11">Chairman, Srei Group<br /> <strong>Web</strong>: <a class="bluelink" href="www.srei.com"><br />www.srei.com</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img18.jpg" /></td> <td> <span class="black15">Dr Geoffrey <br />Clements</span><br /> <span class="arialblack11">MD& India <br />Director,Commonwealth <br />Business School<br /> <strong>Web</strong>: <a class="bluelink" href="www.cbs.ac">www.cbs.ac</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img19.jpg" /></td> <td> <span class="black15">Deepak Puri</span><br /> <span class="arialblack11">Chairman& MD<br />Moser Baer India<br /> Ltd.<br /> <strong>Web</strong>: <a class="bluelink" href="www.moserbaer.in"><br />www.moserbaer.in</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img20.jpg" /></td> <td> <span class="black15">Kamal Syed</span><br /> <br /> <span class="arialblack11">Member of <br />European Parliament<br /> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img21.jpg" /></td> <td> <span class="black15">Subodh Agarwal</span><br /> <br /> <span class="arialblack11">Euromax Capital<br /> <strong>Web</strong>: <a class="bluelink" href="www.euromaxcapital.com"><br />www.euromaxcapital.com</a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img22.jpg" /></td> <td> <span class="black15">Jeh Wadia</span><br /> <br /> <span class="arialblack11">Managing Director,<br /> GOAIR AIRWAYS<br /> <strong>Web</strong>: <a class="bluelink" href="www.goair.in ">www.goair.in </a></span> </td> </tr> </table> </div> <div class="contentdiv"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td class="imgpad" valign="top" width="80"> <img alt="" class="style1" src="images/img23.jpg" /></td> <td> <span class="black15">G P Hinduja</span><br /> <br /> <span class="arialblack11">MD of<br /> Hinduja Group<br /> <strong>Web</strong>: <a class="bluelink" href="www.hindujagroup.com"><br />www.hindujagroup.com</a></span> </td> </tr> </table> </div> </div> <div id="paginate-slider1" class="pagination"> </div> <script type="text/javascript"> featuredcontentslider.init({ id: "slider1", //id of main slider DIV contentsource: ["inline", ""], //Valid values: ["inline", ""] or ["ajax", "path_to_file"] toc: "#increment", //Valid values: "#increment", "markup", ["label1", "label2", etc] nextprev: ["Previous", "Next"], //labels for "prev" and "next" links. 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