Cross-border equity transfers by non-residents require investment-route, cap, pricing, approval, reporting and gift-condition compliance requirements.

Rule 13 permits non-resident individuals to transfer Indian company equity instruments or units, subject to the applicable Schedule conditions. Repatriation-basis holdings may be sold or gifted to persons resident outside India, with Government approval for approval-sector companies and certain ownership or control transfers involving land-bordering countries. Non-repatriation-basis sales are subject to applicable investment routes, caps, pricing, documentation and reporting, except for transfers to specified eligible non-resident investors. Gifts require prescribed eligibility, approval where applicable, sectoral-cap compliance, relative status and value limits.

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