What is a project office in India?

A project office in India is a branch office set up with a limited goal for a specific project. It permits the company to establish a presence for a certain period of time.

The project of a project company is crucial to its existence. The project has to be:

• Funded with remittances from abroad;
• Funded by an international financing agency;
• Cleared by an appropriate authority; or
• Based on a contract awarded by a company or entity in India which in turn is funded by a term loan from a public financial institution or bank in India.

Failing to meet these criteria, the company must be accompanied by a special approval from the Reserve Bank of India.