Transfer from non- resident to non -resident

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 October 2012 I want to transfer the share of a non- resident to a non resident which transfer form should i use. IS there any compliance in FEMA.

Ajay Mishra

Ajay Mishra (Expert)
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12 October 2012 hi

whether the company is listed or unlisted and shares are in physical or demat.

Querist : Anonymous

Querist : Anonymous (Querist)

12 October 2012 Dear Sir

Its a unlisted private company and shares are physical.

Ajay Mishra

Ajay Mishra (Expert)
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12 October 2012 Hi

You take the assistant of Authorised Dealer Bank (AD) and file Form FC-TRS.

For more details read Consolidated FDI policy issued by DIPP page no.20 under heading 3.4 Issue/Transfer of shares.

Querist : Anonymous

Querist : Anonymous (Querist)

12 October 2012 My understanding is FEMA will not come into picture for transfer of shares from NON-Resident to NON-Resident as there is no inflow and outflow of money.

Ajay Mishra

Ajay Mishra (Expert)
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12 October 2012 I understand that their is no flow of money in or from India. But suppose such NRI transfer his/its shares to such company which are not permitted to hold shares under FDI policy, then without RBI approval, if you have approve the transfer of shares to such NRI then what will be implication on shareholding of the company.

Querist : Anonymous

Querist : Anonymous (Querist)

12 October 2012 In my case FDI is allowed to 100%
My Pvt Company is a software company

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