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of <h1>Master Circular on Foreign Investments by Residents in JVs and WOS Abroad Under FEMA 1999.</h1> The Master Circular addresses direct investments by residents in Joint Ventures (JV) and Wholly Owned Subsidiaries (WOS) abroad, as per the Foreign Exchange Management Act, 1999, and related regulations. It consolidates existing instructions on these investments into a single document, with a list of relevant circulars and notifications provided in the appendix. This circular is effective for one year and will be replaced by an updated version on July 01, 2013. It is directed to all banks authorized to deal in foreign exchange.
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