Overseas Investments by Resident Indians:
Since quite some time, residents are permitted to freely invest in movable or immovable assets outside India . Presently residents can make overseas investments upto an amount of US$ 200,000 per financial year.
Such investment can be made for purchase of immovable properties or acquiring shares; bonds and even placement of foreign exchange deposits.
It may be noted that investments are not permitted for speculative transaction such as trading in foreign currencies; horse racing, betting etc.
Investments can also be made in wholly owned Companies wherein resident individuals amongst residnent family members or friends and investmets can be routed through such Special Purpose Investment Vehicle although income tax issues of such SPVs need appropriate attentiion. Remittance is also permissible for current account transactions such as education or medical expenses of any family member or friend and also for making legitimate gifts to friends or relatives.
We, at femaonline.com offer composite advisory services which also include compliance of all procedural aspects prescribed under FEMA1999 and related regulations and the Income Tax Act , 1961,.
keynote@femaonline.com or keynote@nribanks.com or call
Keynote Consultancy Pvt. Ltd.
Tel. No. : 0091 281 245 3367 (four lines)
