Section 2 in 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
2. Definitions.
- In these regulations, unless the context otherwise requires -(a)'Act' means the Foreign Exchange Management Act, 1999 (42 of 1999).(b)'Authorised Dealer' means a person authorised as an authorised dealer under sub-section (1) of Section 10 of the Act.(c)'Foreign company' means a body corporate incorporated outside India and includes a firm or other association of individuals.(d)'Branch Office' in relation to a company, means any establishment described as such by the company.(e)'Liaison Office' means a place of business to act as a channel of communication between the principal place of business or Head Office or 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.(f)'Project Office' means a place of business in India to represent the interests of the foreign company executing a project in India but excludes a Liaison Office.(g)'Site Office' means a sub-office of the Project Office established at the site of a project but does not include a Liaison Office.(h)'Stand-alone basis' means such branch offices would be isolated and restricted to the Special Economic Zone alone and no business activity/ transaction will be allowed outside the Special Economic Zones in India which includes branches/subsidiaries of its parent office in India.(i)The words and expressions used but not defined in these Regulations, shall have the same meanings respectively assigned to them in the Act.
