Eligibility for Closure:
1. When approved time period has been expired. or
2. When LO/BO/PO wish to close their office in india. 

Pre-requisites conditions for closure of LO/BO/PO;
1. Confirmation from the applicant/parent company that no legal proceedings in any Court in India are pending and there is no legal impediment to the remittance
2. No-objection / Tax Clearance Certificate from Income-Tax authority for the remittance/s.
3. Any other document/s, specified by the Reserve Bank while granting approval.

Procedure of Closure of LO/BO/PO:

Step I-  First such offices have to get NOC from MCA / RoC for closure of place of business in India

a. For getting NOC all the required forms and details should have been provided to Forms like FC 2, FC-3 and FC-4 should have been filed on annual basis and as per the instructions mentioned.
b. If all the Annual Returns are filed with the RoC. After filling Annual Activity Certificate, Undertaking from such Offices in India, Certificate from Auditors and also from the parent company has to be uploaded as an attachment to form FC-2 for closure of place of business in India.

Step 2- Application with AD Category – I bank
The application request has to be submitted with the following documents-
1. Copy of the approval by the Reserve Bank or the Authorized Dealer category-1 bank for the establishment of the liaison office.
2. Auditors certificate indicating manner of remittance, disposal of assets and statement of assets & liability
3. A confirmation from LO/BO/PO that there is legal proceedings pending in any court in India
4. Necessary approval from ROC and Income tax or relevant authorities in india with board resolution has to be passed by the parent company for closing the liaison office in India with closure date.
5. Annual activity certificate
6. Certificate from the statutory Auditor that no tax liabilities are pending .

Step 3- designated AD Category – I bank will report to the Reserve Bank (the Regional Office Closure of such LO/BO/PO.

Step 4- Return of alteration in the documents filed by LO/BO/PO in Form FC-2 within 30 days after such closure.