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FEMA provisions for Resident and Non Resident Individuals

Foreign Direct Investment

1 Pictorial presentation

2 Concepts

3 FDI Policy

4 Manufacturing

5 Construction

6 Trading

7 Pharmaceuticals

8 FDI Compliances

9 Issue Price

10 FDI in LLP

Other Select Provisions of FEMA

1 Borrowing / Lending in INR

2 Borrowing in Foreign Currency

3 Remittance by Resident

4 Remittance by NRI

5 Some other important provisions 6

6 Investment by NRI

FDI means Foreign Direct Investment by a non-resident in the capital of the Indian company under Schedule 1 of the Regulation

Capital means

1  Equity shares

2 Preference shares *

3 Debentures

* * Must be fully, compulsorily & mandatorily convertible into equity shares.

Person Resident in India

Residing in India for > 182 days in preceding Financial Year

Exceptions :

a. gone out / stays outside India – for employment / business / vocation – any other purpose with an intention to stay for an uncertain period.

b. Comes or stays in India for any reason other than – for employment / business / vocation – any other purpose with an intention to stay for an uncertain period.

– any person or body corporate registered or incorporated in India,

– an office, branch or agency in India owned or controlled by a person resident outside India

– an office, branch or agency outside India owned or controlled by a person resident in India.

Person resident outside India means a person who is not resident in India

Non-Resident Indian (NRI) means an individual resident outside India who is

– a citizen of India  or

– a person of Indian origin

Person of Indian Origin (PIO) is a Citizen of any country other than Bangladesh or Pakistan and

– has at any time held an Indian passport

– he, either of his parents or any grandparents were citizen of India

– spouse of either of the above two categories.

FDI can be made through

Automatic route

– Fulfill all the conditions as may be prescribed

– Reporting to RBI

Approval route

– The overseas investor or the Indian investee company should obtain prior approval from Foreign Investment Promotion Board (FIPB).

– A citizen/entity incorporated in Bangladesh / Pakistan can invest in India, only under the Government route.

Prohibited Sectors

1 Lottery business, gambling, betting & casinos

2  Chit funds, Nidhi company

3 Real estate business, Farm houses, Trading in TDR

4 Manufacturing of tobacco products or its substitutes

5 Sectors not open to private investments like atomic energy, railways (other than railway infrastructure as per entry 18 of Annexure B to FDI scheme).

FEMA provisions for Resident and Non Resident Individuals

FEMA provisions for Resident and Non Resident Individuals

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