The Ministry of Finance has released the Report of the Working Group on Foreign Investment, led by U. K. Sinha.
Monday, August 30, 2010
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Nice... that the margin ban for outflows will most likely be lifted.
ReplyDeleteThere is another gray area: there is a remittance restriction of $200K per year. But, what if someone has earned in a foreign currency and would like to keep it in a foreign account (so there is no remittance involved). There shouldn't be a restriction of margin, etc in this case? I'm not sure whether the law distinguishes between outward remittance and external income.