Foreign venture capital investor fees and remittance rules are revised, with updated payment timing and designated depository participant obligations. The fee and remittance framework for foreign venture capital investors is revised under the amended registration regulations. The amendment removes the reference to a fee specified in the Second Schedule from regulation 3(3), and the Second Schedule substitutes the existing fee amounts with revised rupee-equivalent charges payable in eligible foreign exchange equivalent. It also requires initial registration fees to be paid prior to the grant of the certificate of registration, and restates the designated depository participant's obligation to remit collected fees to the Board within five working days.
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Foreign venture capital investor fees and remittance rules are revised, with updated payment timing and designated depository participant obligations.
The fee and remittance framework for foreign venture capital investors is revised under the amended registration regulations. The amendment removes the reference to a fee specified in the Second Schedule from regulation 3(3), and the Second Schedule substitutes the existing fee amounts with revised rupee-equivalent charges payable in eligible foreign exchange equivalent. It also requires initial registration fees to be paid prior to the grant of the certificate of registration, and restates the designated depository participant's obligation to remit collected fees to the Board within five working days.
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