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        FEMA

        Regulation 19A - Overseas Direct Investments by Proprietorship Concern/Unregistered Partnership Firm in India

        Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004

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        Overseas direct investment by proprietorships requires prior Reserve Bank approval under amended FEMA regulations for JV or WOS formation. A proprietorship concern or an unregistered partnership firm in India may set up or acquire a Joint Venture (JV) or Wholly Owned Subsidiary (WOS) outside India only with the prior approval of the Reserve Bank, provided they satisfy the eligibility criteria for Overseas Direct Investment as prescribed by the Reserve Bank. The amendment replaces an earlier version that conditioned permission on recognition as a Star Export House and compliance with Schedule II criteria.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Overseas direct investment by proprietorships requires prior Reserve Bank approval under amended FEMA regulations for JV or WOS formation.

                                A proprietorship concern or an unregistered partnership firm in India may set up or acquire a Joint Venture (JV) or Wholly Owned Subsidiary (WOS) outside India only with the prior approval of the Reserve Bank, provided they satisfy the eligibility criteria for Overseas Direct Investment as prescribed by the Reserve Bank. The amendment replaces an earlier version that conditioned permission on recognition as a Star Export House and compliance with Schedule II criteria.


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