9911796707
TMI BlogManner of making Overseas Investment by resident individualX X X X Extracts X X X X X X X X Extracts X X X X ..... ity capital or OPI in the manner provided in this Schedule and unless otherwise provided hereunder, shall be subject to the overall ceiling under the Liberalised Remittance Scheme of the Reserve Bank. (2) A resident individual may make or hold Overseas Investment by way of,- (i) ODI in an operating foreign entity not engaged in financial services activity and which does not have subsidiary or s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... res issued for holding a management post in a a. foreign entity; (h) acquisition of shares or interest under Employee Stock Ownership Plan or Employee Benefits Scheme: Provided that ODI in respect of clauses (e), (f), (g) and (h) may be made in a foreign entity whether or not such foreign entity is engaged in financial services activity or has subsidiary or step down subsidiary where the res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act or from a person resident outside India. (2) A resident individual, without any limit, may acquire foreign securities by way of gift from a person resident in India who is a relative and holding such securities in accordance with the provisions of the Act. (3) A resident individual may acquire foreign securities by way of gift from a person resident outside India in accordance with the provi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on a uniform basis. Explanation.- For the purposes of this paragraph, the expression,- (i) "indirect equity holding" means indirect foreign equity holding through a special purpose vehicle or step down subsidiary; (ii) "Employee Benefit Scheme" means any compensation or incentive given to the directors or employees of any entity which gives such directors or employees ownership interest in a ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
