Loan from Foreign National
This query is : Resolved
manoj mahimkar
(Querist)
09 May 2009
An individual is seeking loan of USD 100000/- from foreign national. What is the procedure and term and conditions as to its 1. rate of interest, 2. repayment, and 3) prepayment. Whether any permission required to be taken, if yes from whom? Does it make any difference if the loan is to be availed from NRI?
Ca Anand Dubey
(Expert)
10 May 2009
1.PROCEDURE IS NOT SO SHORT TO EXPLAIN HERE, YOU HAVE TO PROVIDE FURTHER INFORMATION LIKE WHETHER LENDER IS RELATIVE?PERIOD OF LOAN?ETC.
2.PERMISSION FROM RBI MAY OR MAY NOT REQUIRED DEPENDS ON UR CASE.
3.YES, DEPENDS ON UR CASE
ALL THE TRANSACTION WILL BE MADE AS PER FEMA REGULATION.YOU CAN CHECK FEMA FOR DETAIL
2.PERMISSION FROM RBI MAY OR MAY NOT REQUIRED DEPENDS ON UR CASE.
3.YES, DEPENDS ON UR CASE
ALL THE TRANSACTION WILL BE MADE AS PER FEMA REGULATION.YOU CAN CHECK FEMA FOR DETAIL
CA. Anuj Gupta
(Expert)
26 December 2012
Not allowed under FEMA unless specific regulations (ECB) are taken care of.
Also individual is not allowed to take loan from foreign parties/individuals.
Anuj
femaquery@gmail.com
Also individual is not allowed to take loan from foreign parties/individuals.
Anuj
femaquery@gmail.com
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