Transfer of Shares from resident to Non resident of Pvt Ltd

This query is : Resolved

charmi nagda (Querist)
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27 April 2009 Hello All

Please tell me the detailed procedure to transfer the shares of unlisted Private Company from Resident
individuals to Non resident Company.

Thank You all in Advance.

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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27 April 2009 Step 1 : Verify the quantum of amount involved.

Step 2 : Verfy the amount with that of fema regulation whether it falls under automatic route or specific route.

Step 3 : If the amount falls under automatic route then receive money and inform RBI about the receipt of foreign funfds.

Stepp 4 : if the amount is falling under specific route then apply to Foreign investment promotion board for approval.

Step 5 : After approval only you can receive money and on receipt inform RBI.