Investment by Individuals

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....nsideration of the professional services rendered to the foreign entity or in lieu of director's remuneration, provided the limit of acquiring such shares in terms of value shall be within the overall ceiling prescribed for the resident individuals under the Liberalized Remittance Scheme (LRS) in force at the time of acquisition. (2) A resident individual may apply to the Reserve Bank for permi....

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....sp; ******************* NOTES:- 1. Substituted vide Notification No. 277/2013-RB dated 08-05-2013 w.e.f. 28-03-2013, before it was read as, "20. .Investment by Individuals (1) A Resident individual may apply to the Reserve Bank for permission to acquire shares in a foreign entity offered as consideration for professional services rendered to the foreign entity. ....