https://www.taxtmi.com/manuals?id=2889 Overseas Direct Investment under Rule 19 prohibits residents from investing in foreign entities engaged in real estate activity, gambling, or rupee-linked financial products without RBI approval. Start-up investments must be from internal accruals or resident individuals' own funds. Residents may not make financial commitments that create structures with more than two layers of subsidiaries, and no further layers may be added to existing multi-layer structures. Exceptions cover specified regulated and government companies. Authorised dealer banks must not facilitate transactions in prohibited entities or notified jurisdictions; "subsidiary" is defined by control, including a stake of ten percent or more. en-us Sat, 17 Jun 2023 13:19:00 +0530 Tue, 24 Sep 2024 12:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=2889 Overseas Direct Investment under Rule 19 prohibits residents from investing in foreign entities engaged in real estate activity, gambling, or rupee-linked financial products without RBI approval. Start-up investments must be from internal accruals or resident individuals' own funds. Residents may not make financial commitments that create structures with more than two layers of subsidiaries, and no further layers may be added to existing multi-layer structures. Exceptions cover specified regulated and government companies. Authorised dealer banks must not facilitate transactions in prohibited entities or notified jurisdictions; "subsidiary" is defined by control, including a stake of ten percent or more. Manuals FEMA Sat, 17 Jun 2023 13:19:00 +0530 https://www.taxtmi.com/manuals?id=2889