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| Home > Business Law > Investment in India |
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| Specific Permission of RBI |
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SPECIFIC PERMISSION OF RBI
Permission of the RBI is required to be obtained by all Non-Residents, resident foreign citizens, foreign companies and branches of foreign companies operating in India for:
- Carrying on in India any trading, commercial or industrial activity on its own or through an agent;
- Establishing a place of business in India to carry on such activity;
- Acquiring the whole or any part of business or industrial undertaking in India;
- The purchase of shares in Indian companies;
- Accepting appointment or acting as agents in India of any person or company;
- Acquiring, holding, transferring, disposal by sale, mortgage, gift, lease of more than 5 years, settlement or
otherwise, of any immovable property situated in India.
An Indian company in which non-resident interest is more than 40%, requires RBI permission to engage in agriculture or plantation activities or to acquire the whole or part of any undertaking engaged in such activity.
Foreign nationals require RBI permission to practice any profession or to carry on any occupation, trade or business in India if they wish to repatriate their earnings abroad.
Permission of RBI is required for sending goods from India on lease or hire or under any other agreement other than sale or disposal.
Repatriation of foreign capital requires permission of the RBI. Sale proceeds of investments (including capital gains) made in India and income from such investments are allowed to be repatriated with the approval of the Government or the RBI.
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