Transfer of shares/convertible debentures from Resident to Non-Resident

Transfer of shares/convertible debentures from Resident to Non-Resident

 

Transfer of shares or convertible debentures by Resident to Non-Resident is allowed subject to various terms and conditions.

The ‘Person Resident outside India’ now includes incorporated non-resident entity, foreign national, NRI, FII other than erstwhile OCB.

The foreign national, NRI, FII were earlier excluded from the definition of the ‘Person Resident outside India’ for the purposes of transfer of shares/convertible debentures from resident to the non-residents.