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of <h1>Resident individuals can acquire foreign entity shares for professional services within LRS limits under Regulation 20</h1> Regulation 20 of FEMA permits resident individuals to acquire foreign entity shares as consideration for professional services or director's remuneration within Liberalized Remittance Scheme limits. Acquisitions exceeding LRS limits require Reserve Bank permission. The Reserve Bank evaluates applications based on individual credentials, net worth, profession nature, forex earnings, foreign entity's track record, potential forex inflow, and country benefits. The regulation was amended in 2013 to allow automatic acquisition within LRS limits, previously requiring prior approval for all such transactions.
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