Investments by Person Resident outside India

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.... the beneficial ownership of an investment is vested in any such country, shall invest only under the Government route specified in sub-clause (ii) of clause (a) of paragraph (3) of Schedule I; (ii) a citizen of Pakistan or an entity incorporated in Pakistan shall invest only under the Government route, in sectors or activities other than defence, space, atomic energy and such other sectors or activities prohibited for foreign investment; (iii) in the event of the transfer of ownership of any existing or future FDI in an entity in India, directly or indirectly, resulting in the beneficial ownership falling within the restriction of the above clauses (i) and (ii), such subsequent change in beneficial ownership shall also re....

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....a) a citizen of a country sharing land border with India; or (b) an entity incorporated or registered in such country sharing land border with India, has the ability to directly or indirectly, individually or cumulatively with any another citizen or entity, independently or collectively with any another citizen or entity, whether acting together or otherwise, hold rights or entitlements - (A) in excess of the applicable thresholds specified in sub-rule (3) of rule 9 of Prevention of Money-laundering (Maintenance of Records) Rules, 2005 over an investor entity which is incorporated or registered in a country other than a country sharing land border with India; or (B) which enables such citizen or entity or....

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....Provided that a person who is a citizen of Bangladesh or Pakistan or is an entity incorporated in Bangladesh or Pakistan cannot purchase equity instruments without the prior government approval: Provided further that a citizen of Pakistan or an entity incorporated in Pakistan cannot invest in defence, space, atomic energy and sectors or activities prohibited for foreign investment even through the government route." 2. Inserted vide Notification No. S.O. 4441 (E) dated 08-12-2020, w.e.f. 08-12-2020. 3. Substituted vide Notification No. S.O. 2174(E) dated 01-05-2026 w.e.f. 01-05-2026 before it was read as,  "(a) may subscribe, purchase or sell equity instruments of an Indian ....