Sale of shares to n.r.i.

This query is : Resolved

SUBHASH JAIN (Querist)
Follow

04 October 2011 HELLO,
CAN I SALE A PVT. LTD. COMPANY'S SHARES TO N.R.I. , SHOULD I ANY COMPLIANCE OR PERMISSION WITH RESERVE BANK OF INDIA. WHETHER N.R.I. REMITT. AMOUNT FROM OVERSEAS IN MY SAVING ACCOUNT.

Vishal D Shah

Vishal D Shah (Expert)
Follow

04 October 2011 Yes. You need to adhere to FDI regulations. If Indian company is in allowed sector & other criteria fulfilled then no approval required.
There are pricing guidelines which require value of shares to be determined, further inward remittance needs to be reported to RBI via your AD bank.
Amount can be deposited to your bank account.
Better consult before you move.

Regards,
cavishalshah @ gmail.com

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now