FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF ANY FOREIGN SECURITY) (AMENDMENT) REGULATIONS, 2004Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004
FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF ANY FOREIGN SECURITY) (AMENDMENT) REGULATIONS, 2004Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004
Overseas direct investment restrictions: resident individuals barred from investing in foreign real estate, banking and FATF non-cooperative jurisdictions. Regulation 20A restricts overseas direct investments by resident individuals in JVs/WOS abroad by prohibiting investments in real estate, banking and ... Summary
Overseas direct investment restrictions: resident individuals barred from investing in foreign real estate, banking and FATF non-cooperative jurisdictions.
Regulation 20A restricts overseas direct investments by resident individuals in JVs/WOS abroad by prohibiting investments in real estate, banking and financial services, and in FATF non-cooperative jurisdictions; requiring investments to be in bonafide operating entities (no step-down subsidiaries); imposing LRS ceiling limits including EEFC/RFC balances; mandating valuation as prescribed; prohibiting additional financial commitments; requiring reporting of shareholding changes and Form ODI submissions to authorised dealers and the Reserve Bank; and prescribing disinvestment timing, repatriation and reporting rules.
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