Investment in real state by foreign company
Querist : Anonymous
And Directors of that company are NRI (Indian)
Weather it can do??
Pls. provide me required information with required Forms.
Thanking You
VIMAL
As per Master Circular issued by RBI on July 01, 2013:
Prohibition on foreign investment in India
(i) Foreign investment in any form is prohibited in a company or a partnership firm or a proprietary concern or any entity, whether incorporated or not (such as, Trusts) which is engaged or proposes to engage in the following activities3:
(a) Business of chit fund, or
(b) Nidhi company, or
(c) Agricultural or plantation activities, or
(d) Real estate business, or construction of farm houses, or
(e) Trading in Transferable Development Rights (TDRs).
(ii) It is clarified that “real estate business” means dealing in land and immovable property with a view to earning profit or earning income therefrom and does not include development of townships, construction of residential / commercial premises, roads or bridges, educational institutions, recreational facilities, city and regional level infrastructure, townships.
It is further clarified that partnership firms /proprietorship concerns having investments as per FEMA regulations are not allowed to engage in print media sector.
Querist : Anonymous
Is it Correct option??
That US company, Incorporate a new Company in India & Hold the maximum Shareholding of that Indian Company to Control. And that Indian company invest funds in Real Estate, which is provided by US Company.
Whether it can do??
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