https://www.taxtmi.com/circulars?id=11573 Indian parties may open, hold and maintain a Foreign Currency Account abroad for overseas direct investment where the host country mandates routing through a designated account. Eligibility requires compliance with FEMA overseas direct investment provisions and host-country rules. Remittances to the account must be used only for equity investment in JV/WOS; dividends and other entitlements must be repatriated to India within thirty days of credit. Annual debits/credits must be reported to the designated AD bank with a statutory auditor's certificate of compliance. The account must be closed immediately or within thirty days of disinvestment or cessation. en-us Mon, 02 Apr 2012 00:00:00 +0530 Mon, 02 Apr 2012 17:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11573 Indian parties may open, hold and maintain a Foreign Currency Account abroad for overseas direct investment where the host country mandates routing through a designated account. Eligibility requires compliance with FEMA overseas direct investment provisions and host-country rules. Remittances to the account must be used only for equity investment in JV/WOS; dividends and other entitlements must be repatriated to India within thirty days of credit. Annual debits/credits must be reported to the designated AD bank with a statutory auditor's certificate of compliance. The account must be closed immediately or within thirty days of disinvestment or cessation. Circulars FEMA Mon, 02 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11573