URGENT: CONVERSION OF LIAISON OFFICE TO WHOLLY OWNED SUBSIDIARY

[Rahul Singhal]

Dear Members,

Kindly advise the procedure need to be followed for conversion of liaison office into wholly owned subsidiary.

Take it on urgent note.

Thanks in advance.

[pravin navamoney]

For opening a Liaison office in India you need RBI approval. Such approval is for a period of 3 years, after which you can renew the licence for a further period of 3 years or opt for closure. For Closure you need to make an application to RBI. 

Wholly owned Subsidiary is a Company registered under the Companies Act.

You will have to apply for closure of Liaison office and subsequently incorporate a wholly owned subsidiary. 

Learned members may correct me if wrong.

Regards,

Pravin

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Best Regards,
Pravin

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