Transfer of shares from nri to resident
This query is : Resolved
Divya Prasad
(Querist)
13 June 2014
Please let me know the procedure to be followed by an Unlisted Private Limited company for the transfer of shares from NRI to resident. The transferee had been alloted the shares under automatic route.
Nikhil Kaushik
(Expert)
13 June 2014
you need to report receipt of share application money alongwith KYC of the buyer to RBI through Authorised dealer.
on allotment, you need to file FC-TRS
on allotment, you need to file FC-TRS
Divya Prasad
(Querist)
13 June 2014
Thanks Sir,but do I need the prior permission of RBI, for which application in form TS 1 may be made to Reserve Bank?
Nikhil Kaushik
(Expert)
13 June 2014
under automatic route, no approval is required.
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