Investment in shares by NRI
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 January 2011
Dear Sir,
I want to allot equity shares of a private limited company to Nri. Please tell me about the procedure of allottemnt.
Thanks
Regards
I want to allot equity shares of a private limited company to Nri. Please tell me about the procedure of allottemnt.
Thanks
Regards
udit sharma
(Expert)
11 January 2011
Hi..
As per the Master Circular on Foreign Direct Investment(FDI) issued by RBI on 01.07.2010,your company is required to initmate the receipt of Share Application Money from NRI within 30 days from the receipt of funds in prescribed form along with a copy of Foreign Inward Remittance Certificate(FIRC) and a KYC of the NRI issued by the Bank through whom the funds are remitted. This is to be submitted to RBI through Authorised Dealer Category -I bank.
The Shares must be allotted within a period of 180 days from the date of receipt of funds.
Part A of FCGPR is to be submitted to RBI through Authorised Dealer within 30 days from the date of allotment along with all the annexures and Part B is to be submitted annually latest by 31st July every year.
Regards
CS Udit Sharma
As per the Master Circular on Foreign Direct Investment(FDI) issued by RBI on 01.07.2010,your company is required to initmate the receipt of Share Application Money from NRI within 30 days from the receipt of funds in prescribed form along with a copy of Foreign Inward Remittance Certificate(FIRC) and a KYC of the NRI issued by the Bank through whom the funds are remitted. This is to be submitted to RBI through Authorised Dealer Category -I bank.
The Shares must be allotted within a period of 180 days from the date of receipt of funds.
Part A of FCGPR is to be submitted to RBI through Authorised Dealer within 30 days from the date of allotment along with all the annexures and Part B is to be submitted annually latest by 31st July every year.
Regards
CS Udit Sharma
CA. Anuj Gupta
(Expert)
16 May 2011
Please confirm whether the shares are being issued on repatriation basis or non-repatriation basis.
Anuj
0-9810106211
Anuj
0-9810106211
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reward for festival
- 18% Rent a cab
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Movement of goods by packers and movers - type of sale - Reg.
- Gst credit note by supplier
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Closer of business and itc of capital goods
- Rectification under processing even after 6 months cpc portal
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
