CA Ankur Goel (sr. executive) (133 Points)
23 January 2012Can a NRI become a shareholder & director in INDIAN company ?
If Yes, please tell the requirements that have to be completed.
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 23 January 2012
You have to comply with the FDI guidelines issued by RBI read with Circulars issued from time to time. You can read the Master Circular on FDI read with FEMA 1999 and Rules/Regulations framed thereunder. Check if the investment is under automatic or approval route.
There is no bar for a NRI becoming a Director of an Indian company. There is general permission given by RBI on this.
Regards
CAclubindia
