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Can I remit funds for acquisition of shares in a company abroad?

A resident individual may make a remittance under the Liberalized Remittance Scheme for resident individuals upto USD 250,000 (for details refer to Q.12 below) for acquisition of shares (of listed or otherwise) or debt instruments in a company abroad.

In addition to the above , as per relevant guidelines, a person resident in India:

  • May purchase a foreign security out of the funds held in RFC account maintained in accordance with Foreign Exchange Management (Foreign Currency accounts by Person Resident in India) Regulations, 2000;
  • May acquire bonus shares on the foreign securities held in accordance with the provisions of the FEMA or rules or regulations made there under;
  • When not permanently resident in India, may purchase a foreign security from out of his foreign currency resources outside India;