Is permission from the Reserve Bank required by NRIs for sale / transfer of shares / debentures of Indian companies to other NRIs ?
Ans. No. Transfer of shares/debentures of Indian companies by NRIs to other non-residents does not require permission from the Reserve Bank. However, the transferee NRI would need permission for purchase of such shares for which an application is required to be made to Reserve Bank in the form – FNC 7.
Related Questions
- Back to Top of Index Question-87: Is permission of Reserve Bank required by NRIs for sale/transfer of shares/debentures of Indian companies to other NRIs ?
- Is permission from the Reserve Bank required by NRIs for sale / transfer of shares / debentures of Indian companies to other NRIs ?
- Is permission of Reserve Bank required by NRIs for sale/transfer of shares/debentures of Indian companies to other NRIs?
