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OVERSEAS INVESTMENT, FEMA

Issue Id: - 3503
Dated: 18-10-2011
By:- SANJAY RAWAL

OVERSEAS INVESTMENT

Contents

PLEASE CONFIRM IF FOLLOWING INTERPRETATION IS CORRECT

1. 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 REQUIRED

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Showing Replies 1 to 1 of 1 Records

Page: 1

1 Dated: 19-10-2011
By:- R.S. Mangal

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 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 beyond USD 200000/ per FY, the other schemes can be looked into.

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