Indian LLPs Permitted To Invest Offshore

Published on Thu, Jun 19,2014 | 17:57, Updated at Thu, Jun 19 at 17:58Source : Moneycontrol.com 

With effect from 7 May 2014, the Reserve Bank of India (RBI) has released amendments to the necessary regulations and also appropriate circulars under the Foreign Exchange Management Act, 1999 (FEMA) permitting Limited Liability Partnerships (LLPs) registered under the Limited Liability Partnership Act, 2008 to invest in joint ventures and wholly owned subsidiaries abroad. Prior to this, only companies registered under the Companies Act, 1956 / Companies Act, 2013 and ordinary partnership firms that were formed and registered under the Indian Partnership Act, 1932, were permitted to invest abroad. For more, please read the attached report by Khaitan & Co.

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