Registration/approval of representative service agreement
This query is : Resolved
24 September 2015
A foreign company wants to appoint a indian company as a representative for promoting/marketing its products. Does Indian company have to take approval or register the agreement with RBI etc?
Guest
Guest
(Expert)
24 September 2015
If there is contract between Indian company and the foreign company for marketing the products containing the compensation for Indian company, then there is no requirement for approval from RBI as this falls under Current Account Transaction u/s 2(j) of FEMA Act.
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