02 August 2008
Dear Sir i hv a query regarding share transfer. plz suggest me ASAP One indian resident has to transfer his share to one- person having person of Indian Orgin and resident person and 2nd- person having Foreign citizenship and Resident person. plz guide me regarding FEMA Compliance. company is PVT Ltd Co. it`s urgent Thanks a lot.
If one resident transfer the shares of the private limited co to a NRI or vice versa then under FEMA u have to file form FCTRS with RBI with in 30 days of such transfer.
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