nri director
This query is : Resolved
14 January 2011
NRI is the one of the director of private limited company and he is a share holder of the company.so he want to invest in that company what is the procdure to repatriate from USA to Indian company. let me know the procudure for that.
14 January 2011
suppose if he want to send money from abroad he has to mention the reason what reason should say. kindly let me know
14 January 2011
First we need to ascertain whether the Investment (FDI) will come under Automatic Route (or) Specific Permission route.
In case it comes under specific permission route, the relevant FDI clearances needs to be taken before receiving and allotment of shares.
In case it is coming under automatic route, there is no prior permission is required. The amount received shall be supported by the FIRC certificate from the banker specifying the purpose of receipt of forex. Within 90 days of the receipt , the shares shall be allotted for the amount received and all the details needs to be filed with RBI in Form FC GPR.
In case it comes under specific permission route, the relevant FDI clearances needs to be taken before receiving and allotment of shares.
In case it is coming under automatic route, there is no prior permission is required. The amount received shall be supported by the FIRC certificate from the banker specifying the purpose of receipt of forex. Within 90 days of the receipt , the shares shall be allotted for the amount received and all the details needs to be filed with RBI in Form FC GPR.
14 January 2011
90 days as stated above or 180 days ,pl confirm.
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