Overseas ESOPs

[Darshan Jain]

I am a resident working in Google India. I have been issued Google Stock Units in under the Stock option program. Now, I want to sell the stocks in the US of say $100,000 and reinvest the money in other stocks. Whether I am required to repatriate the proceeds arising out of the sale of such securities as per Regulation 22 of the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2004 or is the transfer covered under the LRS, as provided in Q4 of FAQ's available at https://m.rbi.org.in/scripts/FAQView.aspx?Id=115#Q4 ?

AI Summary

Google India Employee Seeks Clarity on Repatriation Rules for Selling Stock Units and Reinvesting Under Regulation 22. A resident working at Google India inquires about the regulatory requirements for selling Google Stock Units worth $100,000 in the US and reinvesting the proceeds in other stocks. The individual seeks clarification on whether the proceeds must be repatriated according to Regulation 22 of the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2004, or if the transaction is covered under the Liberalized Remittance Scheme (LRS) as mentioned in the Reserve Bank of India's FAQs.