Dividend payment to NRI
This query is : Resolved
25 February 2009
What are the compliances under various laws and authorities like RBI, SEBI or FEMA for dividend remittance to NRI ? ( also specific the various forms and format required to be filled)
CS. Ashish Shah
(Expert)
27 February 2009
In case of Listed Company, for Dividend Payment to NRI, under Listing Agreement you have to just intimate to the Stock Exchanges about this within 15 minutes of the conclusion of Board Meeting by fax and followed by a letter which can be courier, no other formalities are required to be done for RBI. just go throug following circular of RBI A.P. (DIR Series) Circular No. 45 dt. 14.05.2002. You need to just provide a Certificate from CA to your Authorised Dealer Bank at the time of remittance.
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