Investment abroad in foreign unlisted company by Resident individual

[Guest]

A Resident individual is proposing to invest abroad in a foreign unlisted company. What are the compliances that are required to be done by the individual while investing the money abroad? what are the formalities to be complied with the RBI and the Central Governement. Is Form 15CA required to be filed?

upto what limit can the amount be invested? is it USD 200,000 as has been stated in the recently updated Liberalized Remittance Scheme?

Kindly Clarify.

Venkatesan .K

[Anuj Gupta]

For resident individual it shall be beneficial to use the LRR scheme for investing upto USD 200,000.

Form 15CB shall be required for the same.

AI Summary

Liberalized remittance for foreign investment: residents may use the scheme for overseas equity and must obtain Form 15CB. Resident individuals may utilise the Liberalized Remittance Scheme to remit funds for investment in a foreign unlisted company, subject to the Scheme's eligibility and RBI/Central Government operational conditions. For remittances under the Scheme, a certificate in the form of Form 15CB is required to accompany the outward remittance.