https://www.taxtmi.com/notifications?id=119365 The amendment allows insurance/reinsurance companies registered with IRDA to maintain foreign currency accounts abroad for business expenditures and to credit premia received outside India. It further permits Indian startups, or other entities notified by the Reserve Bank in consultation with the Central Government that have overseas subsidiaries, to open foreign currency accounts abroad to credit export/sales earnings and overseas subsidiary receivables, provided account balances are repatriated to India within the period prescribed under the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015; "startup" follows the government notification definition. en-us Wed, 01 Jun 2016 00:00:00 +0530 Tue, 07 Jun 2016 11:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=119365 The amendment allows insurance/reinsurance companies registered with IRDA to maintain foreign currency accounts abroad for business expenditures and to credit premia received outside India. It further permits Indian startups, or other entities notified by the Reserve Bank in consultation with the Central Government that have overseas subsidiaries, to open foreign currency accounts abroad to credit export/sales earnings and overseas subsidiary receivables, provided account balances are repatriated to India within the period prescribed under the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015; "startup" follows the government notification definition. Notifications FEMA Wed, 01 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/notifications?id=119365