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In a bid to boost the ease of doing business in the country, the Finance Ministry, in consultation with the Reserve Bank, notified rules and regulations for overseas investments in line with the amendment in the Foreign Exchange Management Act 2015.
Currently, overseas investment by an Indian resident is governed by the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 and the Foreign Exchange Management (Acquisition and Transfer of Immovable Property Outside India) Regulations, 2015.
The Government has put the draft Foreign Exchange Management (Overseas Investment) Rules and draft Foreign Exchange Management (Overseas Investment) Regulations in the public domain for consultations. These rules and regulations have also subsumed the extant regulations regarding Overseas Investments and Acquisition and Transfer of Immovable Property Outside India.
As per the Government, the revised regulatory framework for overseas investment simplifies the existing framework for overseas investment and is aligned with the current business and economic dynamics.
