What are the schemes available to NRIs for direct investments in India with repatriation benefits? What are the details of such schemes?
NRIs are allowed to invest in business in India under Foreign Direct Investment scheme, subject to the regulations contained in Schedule 1 of Notification FEMA.20 / 2000 RB dated 3rd May 2000. Top • 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 estat
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