Overseas investment permissions: residents may hold and invest in qualifying foreign assets subject to reporting, approvals and NOC requirements. A person resident in India may hold, own, transfer or invest in foreign currency, foreign securities or immovable property abroad if those assets were ... Summary
Overseas investment permissions: residents may hold and invest in qualifying foreign assets subject to reporting, approvals and NOC requirements.
A person resident in India may hold, own, transfer or invest in foreign currency, foreign securities or immovable property abroad if those assets were acquired while resident outside India or inherited from a person resident outside India; such assets and income may be utilised for payments or fresh investments abroad provided consideration is met exclusively from eligible assets and transactions comply with FEMA. Rights issues and bonus shares in foreign entities are permitted with reporting requirements for exercised rights; overseas investments must be in foreign entities engaged in bona fide business activities and may require prior Central Government or Reserve Bank approval in specified jurisdictions or strategic sectors. An NOC is required where the resident is an NPA, willful defaulter, or under investigation.
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