Repatriation/Remittance of Profits and Capital

The repatriation of capital and profits of foreign shareholders is possible after deduction of applicable withholding taxes and other deductions, if any. The following procedures apply in this regard:

• Application for repatriation of capital invested in India should be made to the Reserve Bank through an authorised dealer, together with following information/documents
• Whether any undertaking was given at any time to the Government of India/Reserve Bank not to seek repatriation facilities
• Documentary evidence in support of the investment proceeds
• Whether the investor (in case of individual) was ever resident in India; if so, particulars of foreign exchange availed of at the time of leaving India and thereafter
• No Objection certificate/Clearance certificate from the Indian Income Tax Authorities
• A certificate from a chartered accountant or the concerned company’s secretary confirming that necessary share transfer forms duly completed have been received by the transferee or his agent and/or lodged with the company for registration in favour of the transfers of bulk holdings.