What are the schemes for overseas investment by partnership firms?
• Partnership firms engaged in providing professional services, such as chartered accountancy, legal practice and related services, information technology and entertainment software related services and medical and healthcare services are eligible for investment abroad on an automatic basis by filing form ODA with the AD without prior approval of the Reserve Bank up to an amount of US$ 1 million. Partnership firms, which do not conform to the above parameters, are required to obtain specific approval of the Reserve Bank by filing an application in form ODI (to the extent applicable). Q.37 Is there any specific criteria for overseas investment by a partnership firm under the automatic route? • The investing firm will have to be the member of the respective all-India professional organisation / body and the investment amount should not exceed US$ 1 million. or its equivalent in one financial year. Q.38 What is the procedure to be followed by a partnership firm for making investment under
