Back to Top of Index Question-3: What is an OCB ?
Overseas Corporate Bodies predominantly owned by individuals of Indian nationality or origin resident outside India (OCBs) include overseas companies, partnership firms, societies and other corporate bodies which are owned, directly or indirectly, to the extent of at least 60% by individuals of Indian nationality or origin resident outside India as also overseas trusts in which at least 60% of the beneficial interest is irrevocably held by such persons. The various facilities granted to NRIs are also available with certain exceptions to OCBs so long as the ownership/beneficial interest held in them by NRIs continues to be at or above the level of 60%.
