Indian Nationals froming company in US
This query is : Resolved
26 May 2007
Can Indian Nationals form company out side India. Does it require any permission from any Govt department or agency. Investment would be with in the permissible limit of remitting funds abroad applicable to individual.
29 May 2007
As per Chapter 9 of Fema if the investment outside India is with in the permissible limit and the activity carried outside india is in the automatic permitted route then there is no condition to take any approval,,however if the limit exceeds or the activity is not in automatic permissible limit then permission is required
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