The Indian party/ Resident Individual is required to route all transactions in respect of a particular overseas JV/WOS only through one branch of an Authorized Dealer. This branch would be the ‘designated Authorised Dealer’ in respect of that JV/WOS and all transactions and communications relating to the investment in that particular JV/WOS are to be reported only through this ‘designated’ branch of an Authorized Dealer. In case the JV/WOS is being set up abroad by two or more Indian promoters, then all Indian promoters collectively called the Indian party and the Resident Individual, would be required to route all transactions in respect of that JV/WOS only through one ‘designated Authorised Dealer’. In case the Indian Party/ Resident Individual wants to switch over to another AD, an application by way of a letter may be made to the Reserve Bank after obtaining an NOC from the existing Authorized Dealer.
The Indian promoters are free to designate different branches of the same Authorised Dealer or branches of other Authorised Dealers for their separate JVs/WOSs. The only requirement is that regardless of the number of promoters, one JV/WOS will have only one ‘designated Authorised Dealer’ to route all its transactions.
Have you violated FEMA due to ignorance? Did you receive ED notice for FEMA violation?
Schedule your Tele-Appointment with Ozgians to save your precious time and hard-earned money on unwanted legal costs for your FEMA / RBI and Enforcement Directorate related matters.
#FemaCompliance #FemaConsultant #fcraregistration #femaviolation #EDsummons #DebitCardBlocked #CreditCardBlocked #OnlineForexTrading #MoneyLaunderingCase #ozglawyer #MarginPayment #ForexTrading
Consultation ₹4141 ☎️ ozglaw.com/
Get Email Advisory ☎️ ask@fema.in
#fcgpr #OzgLaw #forextrader #FemaConsultant #FcraConsultant #RbiCompliance #OzgLawyers #LRSScheme #EDraid #OzgIndia #FATF #WhatsAppGroup
WhatsApp / DM 📲 @FEMAconsultant
24/7 Support Chat ☎️ 8779696580
