Overseas investment compliance requires UIN registration, designated AD banking and timely document submission and repatriation obligations. Residents acquiring equity reckoned as ODI must submit share certificates or equivalent host jurisdiction documents to the designated AD bank within the prescribed period, obtain a Unique Identification Number for the foreign entity via the AD before outward remittance, route all transactions for a UIN through the designated AD, realise and repatriate receivables and disposal proceeds in accordance with host law within the prescribed timeframe, and may remit earnest money or obtain bid bond guarantees which must convert from open ended to close ended within a specified period after contract award.
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Provisions expressly mentioned in the judgment/order text.
Overseas investment compliance requires UIN registration, designated AD banking and timely document submission and repatriation obligations.
Residents acquiring equity reckoned as ODI must submit share certificates or equivalent host jurisdiction documents to the designated AD bank within the prescribed period, obtain a Unique Identification Number for the foreign entity via the AD before outward remittance, route all transactions for a UIN through the designated AD, realise and repatriate receivables and disposal proceeds in accordance with host law within the prescribed timeframe, and may remit earnest money or obtain bid bond guarantees which must convert from open ended to close ended within a specified period after contract award.
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