How does an NRI obtain permission of Reserve Bank for investment under the above schemes?
In terms of compliance and procedures, the Foreign Direct Investment is divided into two parts: 1) Prior Government approval is required only for industries listed in Annexure A to the Notification FEMA.20 / 2000 RB dated 3rd May 2000. 2) No prior permission is required for investment made in industries covered in Annexure B, to the above Notification, subject to the sectoral cap prescribed therein. In such cases, only post-investment declaration is prescribed for the company. Top • Can NRIs make investments in companies engaged in real estate development in India? Yes. Notification FEMA.20 / 2000 RB dated 3rd May 2000, in Annexure B permits NRI investment in companies engaged in housing and real estate development up to 100 per cent of share capital of the company. Top • What is the procedure for obtaining Reserve Bank permission in this regard? Since investment in companies engaged in housing and real estate development is placed under Foreign Direct Investment, no permission is requ
Related Questions
- Back to Top of Index Question-62: How does an NRI obtain permission of Reserve Bank for investment under the 40% or 100% Scheme ?
- Back to Top of Index Question-65: How can an NRI obtain permission of Reserve Bank for investment in a sick industrial unit ?
- How does an NRI obtain permission of Reserve Bank for investment under the above schemes?
