Transfer of shared of an Indian Company from a non resident to a non resident, FEMA

[Sanjeev Sharma]

Whether any permission is required from FIPB or RBI for Transfer of shares of an Indian company from a non resident to a non resident ? How the valuation and withoding tax aspect to be done ??

Posts / Replies

[Rama Krishana]

It appears that as such there is no restriction on transfer of shares from a non resident to another non resident of an India company as per FEMA regulations or FDI policy. For more details, you should refer to latest consolidated FDI policy paragraph no. 3 = http://www.taxmanagementindia.com/site-map/fema/detail_circular.asp?ID=8033