India partially lifts currency transfer
restrictions for foreign investment purposes. India strictly controls foreign currency transfers, making it
hard for Indian companies to transfer funds out of the country. The new Foreign
Exchange Manual Act (FEMA) Regulations 2000, however, contain important changes
that will allow Indian companies to invest abroad. For example, Part I (Direct
Investment Outside India) states the general rule that no Indian resident shall
directly invest abroad, and that no Indian party shall directly invest in a
foreign entity engaged in the real estate or banking business. On the other
hand, an Indian party may now directly invest in a Joint Venture or in a wholly
owned subsidiary outside India as long as (1) the total financial investment
does not exceed U.S.$50 million, (2) the foreign entity is engaged in the same
line of business. Citation: FEMA
(Transfer of Issue of any Foreign Security) Regulations 2000, published as FEMA
Manual by Nashi Publications, P.O. Box No. 37, New Delhi - 110001, India.
**** Mr. William B. Blanchard (“Bill Blanchard”) is a Real Estate Attorney with offices in St. Charles and Oakbrook Terrace, Illinois. Bill specializes in representing real estate clients for purchases and sales as well as home owner real estate tax assessment appeals. Mr. Blanchard is General Counsel for Gaia Title, Inc. a title insurance agency and settlement services provider. The Company is owned by real estate attorneys who demand exemplary title insurance services and accurate and efficient settlement services. As General Counsel he is responsible for title examination, commitment and policy review, escrow settlement supervision and regulatory review. - Attorney Profile: https://solomonlawguild.com/william-b-blanchard%2C-esq - Attorney News: https://attorneygazette.com/william-blanchard%2C-esq#40b43d7b-94b2-48d3-b055-1979a636f1e7
