Current Account for foreign entities

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ICICI Bank in its capacity of Authorised Dealer Category 1 can authorise the setup of Liaison Office (LO), Branch Office (BO) and Project Office (PO) in India within FEMA framework. Bank also offers LO/BO/PO accounts to respective offices. Establishment of LO/BO/PO is governed by Foreign Exchange Management Act (FEMA), 1999 and Notification no. 22(R)/2016-RB dated Mar 31, 2016.

Types of Current Account

Bank also takes pride in offering Special Non-resident Rupee Account (SNRR) to foreign entities having business interest in India. SNRR account can also be offered to entities setting up unit in Gujarat International Finance Tech-city.