OVERSEAS INVESTMENT

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....VERSEAS INVESTMENT<br> Query (Issue) Started By: - SANJAY RAWAL Dated:- 18-10-2011 Last Reply Date:- 19-10-2011 FEMA<br>Got 1 Reply<br>FEMA<br>PLEASE CONFIRM IF FOLLOWING INTERPRETATION IS CORRECT 1.....

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.... A RESIDENT INDIVIDUAL CAN REMIT USD 200000 PER ANNUM(UNDER LIBERALISED SCHEME) FOR INVESTMENT IN INCORPORATED jOINT VENTURE ABROAD.IF INVESTMENT IS BEYOND USD 20000 THEN PERMISSION FROM RBI IS REQUIR....

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....ED Reply By R.S. Mangal: The Reply: A RESIDENT INDIVIDUAL CAN REMIT USD 200000 PER ANNUM(UNDER LIBERALISED SCHEME) per financial year for any permitted capital or current account transaction. It is ....

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....pertinent to note that the remittance by resident individual under this scheme is not permitted for setting up a company abroad, however such individual can acquire shares abroad.For remittance beyond....

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.... USD 200000/ per FY, the other schemes can be looked into.<br> Discussion Forum - Knowledge Sharing ....