OVERSEAS INVESTMENT

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..... OVERSEAS INVESTMENT
Query (Issue) Started By: - SANJAY RAWAL Dated:- 18-10-2011 Last Reply Date:- 19-10-2011 FEMA
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FEMA
PLEASE CONFIRM IF FOLLOWING INTERPRETATION IS CORRECT 1 .....

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..... . A RESIDENT INDIVIDUAL CAN REMIT USD 200000 PER ANNUM(UNDER LIBERALISED SCHEME) FOR INVESTMENT IN INCORPORATED jOINT VENTURE ABROAD.IF INVESTMENT IS BEYOND USD 20000 THEN PERMISSION FROM RBI IS REQUI .....

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..... RED Reply By R.S. Mangal: The Reply: A RESIDENT INDIVIDUAL CAN REMIT USD 200000 PER ANNUM(UNDER LIBERALISED SCHEME) per financial year for any permitted capital or current account transaction. It is .....

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..... pertinent to note that the remittance by resident individual under this scheme is not permitted for setting up a company abroad, however such individual can acquire shares abroad.For remittance beyon .....

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..... d USD 200000/ per FY, the other schemes can be looked into.
Discussion Forum - Knowledge Sharing .....

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