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of <h1>Master Circular Guides Indian Overseas Investments Under FEMA 1999; Details Routes, Prohibitions, and Compliance Until July 2015.</h1> The Master Circular consolidates guidelines for direct investments by Indian residents in Joint Ventures (JV) and Wholly Owned Subsidiaries (WOS) abroad under the Foreign Exchange Management Act, 1999. It outlines permissible routes for investment, including the Automatic and Approval Routes, and specifies prohibitions, such as investments in real estate or banking without Reserve Bank approval. The circular provides detailed instructions on funding methods, reporting requirements, and the process for obtaining necessary approvals. It also covers the roles of Authorised Dealer banks in facilitating these investments and emphasizes compliance with regulatory norms. The circular is effective until July 1, 2015, after which it will be updated.
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