FDI
vivek
(Querist) 30 July 2010
This query is : Open
Query regarding FDI through NRE Bank A/c.
Dear Experts,
Query regarding FDI through NRE Bank A/c.
A is a Non Resident Indian, currently residing in Germany.
A proposes to subscribe for Equity Shares in Indian Company, registered office in Chennai.
A has NRE bank a/c wth HDFC Bank in Mumbai.
A proposes to transfer funds from NRE bank a/c to the company's bank account towards subscription of equity shares.
Query
1. Whether funds from NRE bank a/c of NRI shall be treated as Foreign Direct Investment ?
Ans : ...............................
2. If so, whether the company (upon receipt of Subscription amount) is required to file the necessary forms through Authorised Dealer I Category Bank
to RBI for the purpose of 30 days reporting (along with KYC) and also Form FC-GPR (on allotment of shares to NRI) ?
Ans : ...............................
3. Any other compliances to be done by the company on receipt of funds from NRE bank account of NRI.
Ans : ...............................
4. Whether the Chennai Bank shall treat the funds received through NRE A/c HDFC Bank, Mumbai as Foreign Inward Remittance and issue Foreign Inward Remittance Certificate ?
Ans : ...............................
I shall request the Experts to share their experiences on the said queries.
Thanks for all concerned.
