Can an NRI purchase securities by subscribing to public issue? What are the permissions/approvals required?

April 26, 2017approvals ISSUE NRI permissions public purchase securities subscribing

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Can an NRI purchase securities by subscribing to public issue? What are the permissions/approvals required?

2 Answers

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Yes. The issuing company is required to issue shares to NRI on the basis of specific or general permission from GOI/RBI. Therefore, individual NRI need not obtain any permission.

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Ans. Yes. The issuing company is required to issue shares to NRI on the basis of specific or general permission from GoI/RBI. Therefore, individual NRI need not obtain any permission.