MANU/RPRL/0109/2021

Ministry : Reserve Bank of India

Department/Board : Press Releases

Press Release No. : 2021-2022/661

Date : 09.08.2021

Notification/ Circulars Referred : Notification No. FEMA 120/RB-2004 dated July 07, 2004 MANU/RFEM/0035/2004;Notification No. FEMA 7 (R)/2015-RB dated January 21, 2016 MANU/RFEM/0005/2016 Notification No. FEMA 120/RB-2004 dated July 07, 2004 MANU/RFEM/0035/2004;Notification No. FEMA 7 (R)/2015-RB dated January 21, 2016 MANU/RFEM/0005/2016

Citing Reference:
Notification No. FEMA 120/RB-2004 dated July 07, 2004 MANU/RFEM/0035/2004  Referred

Notification No. FEMA 7 (R)/2015-RB dated January 21, 2016 MANU/RFEM/0005/2016  Referred

Rationalisation of Overseas Investment Regulations under FEMA, 1999 - Draft rules/regulations for comments

Overseas Investments and acquisition of immovable properties outside India by persons resident in India is presently governed by the provisions contained in Notification No. FEMA 120/RB-2004 dated July 07, 2004 [Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004] and Notification No. FEMA 7 (R)/2015-RB dated January 21, 2016 [Foreign Exchange Management (Acquisition and Transfer of Immovable Property Outside India) Regulations 2015] respectively.

With a view to further liberalize regulatory framework and also to promote ease of doing business, it has been decided to rationalize the existing provisions governing overseas investment. The Rules and Regulations will be finalized after public consultations.

Accordingly, the Reserve Bank of India (RBI) has today placed on its website two documents viz draft Foreign Exchange Management (N........