Overseas direct investment permitted for resident individuals meeting eligibility, allowing investment in equity and convertible preference shares of foreign JV/WOS.

Regulation 20A permits a resident individual, alone or in association with another resident individual or an Indian party, to make overseas direct investment in the equity shares and compulsorily convertible preference shares of a Joint Venture or Wholly Owned Subsidiary abroad, provided the individual satisfies the eligibility criteria in Schedule V of the Notification under the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004.

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