Loan from Foreign National
This query is : Resolved
09 May 2009
An individual is seeking loan of USD 100000/- from foreign national. What is the procedure and term and conditions as to its 1. rate of interest, 2. repayment, and 3) prepayment. Whether any permission required to be taken, if yes from whom? Does it make any difference if the loan is to be availed from NRI?
10 May 2009
1.PROCEDURE IS NOT SO SHORT TO EXPLAIN HERE, YOU HAVE TO PROVIDE FURTHER INFORMATION LIKE WHETHER LENDER IS RELATIVE?PERIOD OF LOAN?ETC.
2.PERMISSION FROM RBI MAY OR MAY NOT REQUIRED DEPENDS ON UR CASE.
3.YES, DEPENDS ON UR CASE
ALL THE TRANSACTION WILL BE MADE AS PER FEMA REGULATION.YOU CAN CHECK FEMA FOR DETAIL
2.PERMISSION FROM RBI MAY OR MAY NOT REQUIRED DEPENDS ON UR CASE.
3.YES, DEPENDS ON UR CASE
ALL THE TRANSACTION WILL BE MADE AS PER FEMA REGULATION.YOU CAN CHECK FEMA FOR DETAIL
26 December 2012
Not allowed under FEMA unless specific regulations (ECB) are taken care of.
Also individual is not allowed to take loan from foreign parties/individuals.
Anuj
femaquery@gmail.com
Also individual is not allowed to take loan from foreign parties/individuals.
Anuj
femaquery@gmail.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Applicability of Ind As to associate of associate
- Confusion around Form 26QB fields
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- Disallowance of Section 43B(h) to sez units
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Bogus purchase treatment for it act gst dealer
- Gst input for FY 23-24
- Company registration : Rental agreement or NOC?
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
