No Overseas Direct Investment in Countries Identified as Non-Cooperative Countries and Territories

Our undertakings for long-term impact are an organic extension of our purpose.

They are to employ our deep knowledge of the law beyond the business, the transaction, the deal. To use the opportunities and skills we possess, to reflect on the culture we’re creating. Individually and collectively, these are our efforts to help shape the thinking of our future generations, and arm them with strategies for true, sustainable growth.

Apr 01, 2017

No Overseas Direct Investment in Countries Identified as Non-Cooperative Countries and Territories

RBI has, by way of a notification dated January 2, 2017, amended the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 to restrict an Indian Party from making an investment in an entity set up or acquired abroad either directly or indirectly, in countries identified by the Financial Action Task Force as “non co-operative countries and territories” (or as notified by the RBI from time to time).

DISCLAIMER

These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.