Employee purchase of foreign shares permitted subject to concessional pricing and annual remittance cap, with authorised dealer approval required.

Residents of India who are individuals may acquire foreign securities by gift from non-residents, under a cashless ESOP issued by a foreign company without remittance from India, or by inheritance. Employees or directors of specified Indian offices or companies with majority foreign equity may purchase shares from the foreign company provided the shares are offered at a concessional price and the purchase complies with an annual consideration limit; authorised dealers may permit remittance when those conditions are met.

---

---

---