https://www.taxtmi.com/notifications?id=105746 An Indian party may open, hold and maintain a Foreign Currency Account abroad exclusively for overseas direct investment into a JV/WOS, provided the party is eligible under existing overseas direct investment regulations, the host country requires a designated account, and the FCA is maintained under host country law. Remittances into the FCA must be used only for the investment; dividends and entitlements must be repatriated within thirty days; annual debit/credit details must be submitted to the designated AD bank with a statutory auditor's certificate; and the FCA must be closed immediately or within thirty days after disinvestment or cessation. en-us Wed, 08 May 2013 00:00:00 +0530 Fri, 12 Jul 2013 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=105746 An Indian party may open, hold and maintain a Foreign Currency Account abroad exclusively for overseas direct investment into a JV/WOS, provided the party is eligible under existing overseas direct investment regulations, the host country requires a designated account, and the FCA is maintained under host country law. Remittances into the FCA must be used only for the investment; dividends and entitlements must be repatriated within thirty days; annual debit/credit details must be submitted to the designated AD bank with a statutory auditor's certificate; and the FCA must be closed immediately or within thirty days after disinvestment or cessation. Notifications FEMA Wed, 08 May 2013 00:00:00 +0530 https://www.taxtmi.com/notifications?id=105746