Clarification on "indian party" in fema

Hi ,

Refer the faqs on odi along with the LRS scheme.

an individual can invest in jv or subsidiaries abroad.

the obligation will apply to individuals as well. for eg submission of share certificates , annual performance report etc.

also the odi form mentions Resident Individual / Indian Party.

so according to me the restrictions obligations etc. as applicable to IP equally applies to resident individual read with LRS Scheme.

Thank u sir.