Fema queey:
Querist : Anonymous
A & B would give loan from abroad to Indian company and get Interest etc. A & B will also hold 80% of equity shares.
Query
i) Whether Investment by NRI A & B in a company whose main object is to buy properties and earn Rental income is allowable in FEMA.
ii) Is it in Automatic Route or require any prior Approval from RBI.
iii) Any other applicable provision of FEMA for above transactions.
Please reply.
Thanks in Advance
Prior permission is required in case of buying commercial property in order to earn rental income.
Querist : Anonymous
Can you give the Reference No. of Master Guide / Circular of RBI
Under which such restriction are put for purchase of commercial
Properties to earn Rental income.
This would be of great help to us.
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