Foreign investment threshold increase: caps raised and ownership limits relaxed permitting full ownership in bona fide overseas JV/WOS. The notification amends Regulation 6 of the Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations by increasing the monetary threshold in sub regulation (2)(i), replacing sub regulation (2)(iii) to require direct investment in an overseas JV or WOS engaged in a bona fide business activity, and by revising sub regulation (3)(ii) to permit up to full ownership while omitting the prior proviso.
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Foreign investment threshold increase: caps raised and ownership limits relaxed permitting full ownership in bona fide overseas JV/WOS.
The notification amends Regulation 6 of the Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations by increasing the monetary threshold in sub regulation (2)(i), replacing sub regulation (2)(iii) to require direct investment in an overseas JV or WOS engaged in a bona fide business activity, and by revising sub regulation (3)(ii) to permit up to full ownership while omitting the prior proviso.
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