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remittance of funds

satbir singhwahi

Indian company wants to transfer funds to its subsidiary in south africa, what is the procedure to trf Rs. 10 crore.

Remittance of funds: consult authorised dealer and RBI Master Circulars to comply with FEMA procedures for foreign subsidiary transfers. Remittance of funds by an Indian company to its foreign subsidiary requires processing through the Authorised Dealer and conformity with FEMA requirements; consult RBI Master Circulars and the Authorised Dealer to confirm permissible remittance routes, documentation, limits and any approvals necessary for transfers to a subsidiary in South Africa. (AI Summary)
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YAGAY andSUN on Jul 10, 2012

You would have to check it from your Authorised Dealer or from RBI.  Further, you may go through the Master Circulars issued by RBI on it's Website www.rbi.org.in in this regard.

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