Can NRIS invest in Air Taxi Operations ?
NRIs can participate in the equity of companies carrying on air taxi operations upto 100%. • Applications to RBI is to be made in form ISD by the investee company. • Repatriation of the investment and or dividends is possible only after expiry of 5 years of operation and only out of accumulated net foreign exchange earnings. Q10) Can I invest my funds as Deposits with repatriation rights – in Indian companies ? A) NRIs are permitted to place deposits with Public LImited Companies in India for a minimum period of 3 years subject to certain conditions. The investee company applies to RBI for receiving the deposits from NRIs. Q11) I have been holding shares of Indian Companies in the form of GDRs? Do I need to take RBI permission for sale ? A) RBI has granted general permission for the sale/transfer of underlying shares obtained after conversion of Global Depository Receipts / American Depository Receipts by NRIs. This is applicable to sale of these shares through a Stock Exchange or the
