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of <h1>Consolidated Guidelines for Resident Investments in Foreign JVs and Subsidiaries under FEMA 1999 Valid Until July 2011.</h1> This Master Circular consolidates existing instructions regarding direct investments by residents in Joint Ventures (JV) and Wholly Owned Subsidiaries (WOS) abroad, as permitted under the Foreign Exchange Management Act 1999 and related regulations. It compiles all relevant guidelines and notifications into a single document, with a validity period of one year, expiring on July 01, 2011. The circular will be succeeded by an updated version thereafter. The document aims to streamline the regulatory framework for residents investing in foreign entities.
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