Overseas direct investment without remittance of funds from India
An investment outside India can be done by an Indian party or an individual or (single or in association with another resident individual or with an ‘Indian Party’). All resident individuals, including minors, are allowed to freely remit up to USD 250,000 per financial year.
An Indian Party can make overseas direct investment in any bonafide activity. However, Real estate and banking business are the prohibited sectors for overseas direct investment. But, Indian banks operating in India can set up …