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Current Account - LO/BO/PO
A Current Account can be opened by foreign companies (a body corporate incorporated outside India, including a firm or other association of individuals) for establishing BO/LO/PO (branch office/liaison office/project office) in India as per the guideline given by the Reserve Bank of India (RBI). The principal business of these foreign entities falls under sectors where 100 percent Foreign Direct Investment (FDI) is allowed.
Features & Benefits
The non-resident entity applying for a BO/LO/PO in India should have a financially sound track record viz:
- For branch office - a profit making track record during the immediately preceding five financial years in the home country and net worth of not less than USD 100,000 or its equivalent.
- For liaison office - a profit making track record during the immediately preceding three financial years in the home country and net worth of not less than USD 50,000 or its equivalent.
- For project office - the intending foreign company should have secured a contract to execute a project in India from an Indian company.
The non-resident entity applying for a BO/LO/PO in India should have a financially sound track record viz:
Fees & Charges - Current Account LO/BO/PO
Nil Charges
Related Products
Current Account - Jewellers
- Monthly Average Balance
Monthly Average Balance requirement of ₹25,000/- - Monthly Cash Deposit Limit
Enjoy Monthly Cash Deposit limit @8 times Monthly Average Balance up to maximum of ₹2 crores - Cash Withdrawal
Unlimited with Unlimited for Home Branch, ₹50000 per day for Non Home Branch.
Cash Deposit/month:
₹ 2 Cr
Open Instantly
Current Account - Channel One
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