02 July 2013
I am applying for IEC application for my client. I am new to this. In the company, one of the director is a non resident and another one is a resident managing the business. To apply for IEC, officer in DGFT is asking for RBI approval. Can anyone tell me whether it is necessary. If so, how to get this?
POINT 5-NRI interest in the firm-Kindly tick one of the following:
(i) There is no non-resident interest in the firm/company and no non resident investment with or without repatriation benefits has been made in the firm/company; or
(ii)There is non-resident interest in the firm/company and non resident investment without repatriation benefits in the firm/companyis held with the general/specific permission of RBI; or
(iii)There is non-resident interest in the firm/company and non-resident investment with repatriation benefits in the firm/company is held with the specific permission of RBI.
In case of NRI interest/holding with repatriation benefits in the firm/company, please furnish
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