Share Transfer
This query is : Resolved
Deepanshu arora
(Querist)
04 April 2009
can any one tell me the procedure of transfer of share to freign national company by an Indian resident company.
CA. B.SRINIVASULU
(Expert)
05 April 2009
First you have to check whether it is on repatriation basis or non repatriation basis.
If it is on repatriation basis then comply with fema regulations and get approval from rbi before you receive the investment.
If it on non-repatriation basis then you have to check whether it is in automatic route or approval route.
If automatic route receive the money inform rbi within 30days of receipt of money to rbi.
If it is on approval route first get the approval from FIPB foreign investment promotion board and then only you can receive money. After receipt of money within 30days you have to inform RBI as per fema.
If it is on repatriation basis then comply with fema regulations and get approval from rbi before you receive the investment.
If it on non-repatriation basis then you have to check whether it is in automatic route or approval route.
If automatic route receive the money inform rbi within 30days of receipt of money to rbi.
If it is on approval route first get the approval from FIPB foreign investment promotion board and then only you can receive money. After receipt of money within 30days you have to inform RBI as per fema.
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