Transfer to a foreign individual

Dear Sandeep,

First of all let us know under what route your company has been established,whether under FIPB route or under automatic route.Kindly have a look and confirm.If your company is under FIPB route approval then you have to take prior approval otherwise no prior approval required for the automatic route approved activities of your company for tranfering Indian Company shares.Kindly use for FC-TRS for transfering Indian Company shares.

For detail please go through the Master Circular issued by the RBI for the year 2009-10.

Thanks & Regards

Dear Sandeep,

I would request you to kindly once go through the Form FC-TRS,in the form you will find the details of documents what all required.Also at the same time request you to kindly discuss with your Authorised Dealer/Banker where the proposed money of such transfer is coming.

Apart from the documents what all is there to be required in the form,you have to adduce an additional documents called declaration unedr press note 1 from the foreigner to whom shares is going to be transfered.

Kindly get on this forum for any further clarification. Will be happy to help you.

Thanks & BR