Share transfer from non resident to non resident

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Is there is any Compliance needed if share are transfer from NRI  to Non Resident Company  ,Shares are of Indian pvt company which are acquired by NRI when he was resident in India ?

 

Praveen Kumar

praveenkca25 @ gmail.com

Replies (4)

Dude,

 

Compliance is compulsoryly needed as the company is "private limited" and company to which the shares are transfered is outside our nation.

 

Moreover the period has to be taken into account. That is,

 

1) The date of shares acquired by the person when he was in India

 

2) The date of transfer to the Non-Resident Company

 

This is applicable, if, it is a foreign company in their nation or has branch / base in India.

What are the complinace under FEMA ?

Dude, You check with this link. It might help you. https://rbi.org.in/scriptts/NotificationUser.aspx?Mode=0&Id=5094#16

Thanks sir ........

 


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