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of <h1>Regulation 19A FEMA allows proprietorships and unregistered partnerships to establish overseas ventures with RBI approval</h1> Regulation 19A under FEMA permits proprietorship concerns and unregistered partnership firms in India to establish or acquire joint ventures or wholly owned subsidiaries outside India, subject to Reserve Bank of India's prior approval. These entities must satisfy overseas direct investment criteria prescribed by the Reserve Bank. The regulation was initially limited to Star Export Houses with proven track records but was later amended to broaden eligibility requirements while maintaining the mandatory prior approval framework.
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