If its possible i would like to know the technicalities and under which law/rule it comes under.my friend says it is not possible to transfer funds out of india which i doubt.
2007-10-08 23:01:44 · 2 answers · asked by suresh v 2 in Politics & Government ➔ Law & Ethics
There is no bar on transfering own funds to parent organisations.FEMA Act permits it.The Indian Organisation should approach an authorised dealer in India,They will do the rest.In case of repatriation of profits,sale of investments there are specific ceilings up to which Authorised Dealer can permit.Beyond the ceiling they have to obtain permission of RBI.There is no BAR on transfer of multi national corporates to parent organistion abroad.
Authorised Dealers are normally banks in India.
Incase of any difficulty please write to
Reserve Bank of India
Foreign Exchange Deptt
Shahid Bhgath Singh Marg
Mumbai-400 001
INDIA
2007-10-08 23:23:46 · answer #1 · answered by leowin1948 7 · 0⤊ 0⤋
The easiest way is to "pay" for some good or service offered by the parent corporation.
2007-10-08 23:04:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋