What are the guidelines for transfer of existing shares from non-residents to residents or residents to non-residents?

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What are the guidelines for transfer of existing shares from non-residents to residents or residents to non-residents?

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Transfer from Non-Resident to Resident: The term ‘transfer’ is defined under FEMA as including “sale, purchase, acquisition, mortgage, pledge, gift, loan or any other form of transfer of right, possession or lien”. {Section 2 (ze) of FEMA, 1999}. The FEMA Regulations give specific permission covering the following forms of transfer i.e. transfer by way of sale and gift.

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