Rental deposit paid by foreign holding company on behalf of India subsidiary
This query is : Resolved
Gomathi Sundar
(Querist)
13 July 2023
Indian company gets monetary support in the form of funding for rental deposit from a foreign company at the time of setting up business ie pre incorportion. The foreign company subsequently becomes a 100% holding company of the Indian company.
Now the Indian company want to reimburse the deposit paid to foreign holding company.
Can I understand the procedure involved in light of FEMA.
Now the Indian company want to reimburse the deposit paid to foreign holding company.
Can I understand the procedure involved in light of FEMA.
CA R SEETHARAMAN
(Expert)
13 July 2023
Investment outside India under the automatic route can be made to set-up a new company abroad (JV or WOS). This can only be done by an Indian Company set-up under the Companies Act' 1956.
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