21 May 2022
i taken residency of other country and opened company and personal bank account. opening business account also. i will not stay in india to be nri. someone say if i open a company in foreign it is require by rbi to transfer capital for company from india. that is real? i have to or not? the country i opened company do not say to transfer capital no rule. so why india rule for foreign company? help please
23 May 2022
sir please confirm again no rule of rbi correct? no need of send capital? for now status is not changed as nri in bank. company was opened then i came to this country and taken residency. just now
someone say if i open a company in foreign it is require by rbi to transfer capital for company from india. that is real? i have to or not? the country i opened company do not say to transfer capital no rule. so why india rule for foreign company? help please
23 May 2022
Being individual you can send money under liberalised remittance scheme yearly upto 2.50 lacs USD without RBI permission. For any excess remittance RBI permission is required. No permission is required for your funds parked outside India.
24 May 2022
sir i do not want to send funds as company capital. but someone said i have to send capital amount because it is rbi rule. is there any rule? why rbi want to do that?
24 May 2022
Yes FEMA rules are there it's RBI rules. Our imports are more than exports so there is deficit in foreign currency earning. To use the scarce foreign currency such rules are made.
27 May 2022
sir i know i do not need rbi permission for 50 lakh. but i just want to confirm. is it a requirement of rbi or any government department to send capital if someone opens company in foreign? please confirm this . will be help. please talk to your ca friends also
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