Ministry of Finance (MoF), Govt. of India and RBI have notified the Foreign Exchange Management Overseas Investment (OI) Rules/ Regulations/ Directions 2022, as a step towards the Ease of Doing Business. In line with the amendment in the Foreign Exchange Management Act (FEMA) 2015, the Indian Govt. (GOI) has framed/ consolidated the Outward Investments Rules/ Regulations, as part of a comprehensive exercise to simplify these Rules/ Regulations, in consultation with the Reserve Bank of India (RBI).
Overseas Investments Rules/ Regulations/ Directions (the framework) have been simplified for ‘ease of doing business’ and to provide global opportunities for growth/ competitiveness of the Indian entrepreneurs/ entities (persons resident in India), to boost their global business/ brand value, which eventually will contribute to India’s economic growth also, by way of increase in foreign trade, employment, investment, etc.
The Foreign Exchange Management (Overseas Investment) Rules/ Regulations 2022 notified by the Govt. will subsume/ supersede the extant regulations applicable for Indian residents, like Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 and Foreign Exchange Management (Acquisition and Transfer of Immovable Property Outside India) Regulations, 2015.
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