Regulation 19A - Overseas Direct Investments by Proprietorship Concern/Unregistered Partnership Firm in India - Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004

2 [19A. Overseas Direct Investments by Proprietorship Concern/Unregistered Partnership Firm in India A proprietorship concern or an unregistered partnership firm in India, satisfying the criteria for Overseas Direct Investment as prescribed by the Reserve Bank from time to time, may set up/acquire a Joint Venture (JV)/Wholly Owned Subsidiary (WOS) outside India with the prior approval of the Reserve Bank. ] **************** NOTES:- 1. Inserted vide Notification No. G.S.R. 13(E) dated 09-10-2007 , w.e.f. 27-03-2006. 2. Substituted vide Notification 325/2014-RB - dated 12-11-2014 , w.e.f. 12-11-2014 before it was read as, 1 19A Overseas Investments - Proprietorship Concerns Proprietary / unregistered partnership firm in India being a recognised Star Export House with a proven track record and a consistently high export performance satisfying the criteria as per Schedule II of the Notification may set up a JV/WOS outside India with the prior approval of the Reserve Bank.