ROHIT SINGH
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Can resident individuals acquire shares of a foreign entity in lieu of the professional services rendered by them or in lieu of Director’s remuneration under the General Permission?
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veeru
answered
Hi,
Resident individuals are allowed under General Permission to acquire shares of a foreign entity in part / full consideration of
professional services rendered to the foreign entity or in lieu of Director’s remuneration. The limit of acquiring such shares in terms
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ARJUN PRATAP SINGH
answered
Dear Friend,
as far as your query is concerned that Can resident individuals acquire shares of a foreign entity in lieu of the professional services rendered by them or in lieu of Director’s remuneration under the General Permission?
Let me informed that Resident individuals are allowed under General Permission to acquire shares of a foreign entity in part / full consideration of
professional services rendered to the foreign entity or in lieu of Director’s remuneration. The limit of acquiring such shares in terms of
value shall be within the overall ceiling prescribed for the resident individuals under the Liberalized Remittance Scheme (LRS) in force
at the time of acquisition
Hope answer was helpful to you
Regards,
Arjun Pratap Singh
jitendra etikala
answered
Resident individuals are allowed under General Permission to acquire shares of a foreign entity in part / full consideration of professional services rendered to the foreign entity or in lieu of Director’s remuneration. The limit of acquiring such shares in terms of value shall be within the overall ceiling prescribed for the resident individuals under the Liberalized Remittance Scheme (LRS) in force at the time of acquisition.
