KYC guidelines for Liaison/ Representative office/ Project office/ Branch office Accounts:
- Certificate of Incorporation (COI) and company formation documents (as applicable in the respective country), duly notarised by the Indian Embassy/ notary public in the country of registration. If COI and company formation documents are in any language other than English, then the English version of the COI and company formation documents must be attested by the Indian Embassy/ notary public in the country of registration. All copies should be certified as “True and Updated Copy” and attested by a Company Secretary or the director of the foreign company.
- Communication address proof of the entity. Note: Only Indian communication address proof is accepted.
- Current landline/ mobile number and e-mail ID of the entity.
- Permanent Account Number (PAN) of the entity.
- Latest passport-size colour photograph of each of the authorised signatories.
- A copy of one valid photo identification and address proof of each of the authorised signatories. In case of foreign nationals, a copy of passport (attested by the customer) is required and the signature on the Customer Information Updation Form should be verified by either a foreign notary public/ Consulate General/ Indian Embassy in order to be accepted (the passport should be current and should bear the photograph and signature of the applicant).
- Shareholding pattern/ list of beneficial owners holding more than 25% in the company either directly or indirectly (on letterhead).(click here)
- PAN/ identity proof of such beneficial owners as identified above.
- Address proof of beneficial owners as identified above.
- Permission to set up office as mentioned below.
- Account opening Cheque from existing Current Account
Liaison/ Representative Office:
- Copy of permission from the Reserve Bank of India (RBI) is required, OR
- Copy of Insurance Regulatory and Development Authority (IRDA) approval for foreign insurance companies.
For Branch Office:
- Copy of RBI permission to open a Branch Office in India is required, OR
- For banking company, a copy of approval under provisions of The Banking Regulation Act is required, OR
- For branch/ unit in a Special Economic Zone (SEZ), a copy of the certificate to establish a branch/ unit in SEZ is required.
For Project Office:
- Duly acknowledged copy of report stating project details made to the RBI is required, OR
- Project/ Contract award letter and Declaration in lieu of RBI permission for project office and underlying document to confirm the category which is mentioned in the declaration that the project is actually among the categories allowed.
Note: Original verification and other guidelines are applicable as per current process.
