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of <h1>Indian residents can acquire foreign securities through gifts, inheritance, or ESOP schemes without India remittance</h1> Indian residents may acquire foreign securities through gifts from non-residents, inheritance, or cashless employee stock option schemes without remittance from India. Employees or directors of Indian offices/branches of foreign entities, or subsidiaries with foreign equity holding, may accept ESOP shares if offered globally on uniform basis and annual returns are submitted to Reserve Bank. Authorized dealer banks may permit remittances for ESOP acquisitions. Sale proceeds must be repatriated within 90 days. Foreign companies may repurchase shares under specified conditions. Domestic depositories may handle underlying shares for Indian Depository Receipts with specific holding and sale requirements for different investor categories.
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