11 December 2008
I understand that a foreign company has the option of starting a business in India through a plethora of options - liason offices, branch offices, subsidiaries etc.
Assume that a foreign company chooses to open a liaison office and does so. What I would like to know is if there is a special procedure that a company is expected to follow if it want to convert this liaison office into a wholly owned subsidiary?
Right now there is a confusion regarding this. A new notification from the ministry is coming up regarding this. I presume that if the area is not in Automatic Route FIPB Approval wl hv to be sought for opening WOS.
CAclubindia
