ESTABLISHMENTOF OVERSAES OFFICE, FEMA

[MAMTA BATRA]

Whether Form OBR is required to be filed with AD to establishment overseas branch at the time of making initial remittances?

Awaiting your prompt reply.

Posts / Replies

[Anuj Gupta]

The Indian firm/companies should submit applications to their bankers (authorized dealers) in form OBR along with the particulars of their turnover duly certified by their auditors and also a declaration to the effect that they have not approached/would not approach any other authorized dealer for the facility being applied for.

The application form OBR needs to be filled in with necessary details along with supporting documents.  After which the foreign exchange is released by the authorized dealer (bank).