Taxmann Overseas Investment Ready Reckoner By Sudha G. Bhushan Edition July 2023

Overseas Investment Ready Reckoner By Sudha G. Bhushan

Overseas Investment Ready Reckoner By Sudha G. Bhushan

Description

This is a comprehensive book on overseas investment outside India by various entities covering all provisions in every possible detail. Every attempt has been made in the book to keep the complex law simple. Pictorial representation, checklist, examples, case studies, and compounding orders issued by the Reserve Bank of India have also been provided for clear understanding.

It is a one-stop solution to all the needs of professionals, global investors, institutional investors, CFOs of multinational companies looking to expand globally, and the AD banks dealing with overseas investment for undertaking the transaction and effective implementation, management and execution of overseas investment in India.

The Present Publication is the Latest 2023 Edition and has been amended up to June 2023. This book is authored by renowned CA Sudha G. Bhushan with the following noteworthy features:

• [Exhaustive Commentary] on all the Sections, Rules, Regulations, Master Directions, etc., as applicable to overseas investment
• [Practical Examples] are used in this book to explain every point
• [Entity-wise Bifurcation of Various Provisions under Overseas Investment] All provisions with respect to one type of entity, i.e., Residents, IFSC, Companies etc., are discussed in the respective chapters. This makes the book useful for practitioners who are advising their clients.
• [Extensive Discussion on Guidelines and Procedures Required for Transaction] have been discussed in detail

The structure of the book is as follows:

• The book deals with the Foreign Exchange Management (Overseas Investment) Rules, 2022 and Foreign Exchange Management (Overseas Investment) Regulations, 2022, along with Foreign Exchange Management (Overseas Investment) Directions, 2022 [New Regime/Revised Regulatory Framework/New OI Regime] in entirety
• It is divided into seventeen chapters and deals with the subject matter of making investments outside India in great detail
• Chapters 1 and 2 touch upon the basic framework of the making overseas investment outside of India
• Chapter 3 dissects the new definition that has been introduced in the new framework
• Chapter 4 deals with grandfathering provisions with regard to erstwhile investments made in the old regulations
• Chapter 5 deals in great length with the manner and process of making investments outside India
• Chapter 6 deals with Overseas Direct Investment, Overseas Portfolio Investment and Financial Commitment which are at the helm of understanding investment outside India. All the provisions are discussed with examples to make it transaction oriented
• To make the provisions more helpful to practitioners, the book discusses the entity-wise manner of making investments outside of India
• Chapter 7 deals with overseas investment by Resident Individual
• Chapter 8 deals with overseas investment by Trusts/Societies/AD Banks/Depository/Stock Exchanges
• Chapter 12 deals with overseas investment by AIFs and Venture Capital Funds
• The New OI Regime promotes and enables overseas investment in the financial services sector, including IFSC
• Chapter 9 deals with IFSC in detail
• Chapter 10 deals with the role and responsibility of AD Banks with regard to overseas investments
• Under the erstwhile regime, several conditions were imposed concerning the transfer and disinvestment of overseas direct investments. The same has been done away with the new regime
• Chapter 11 deals with the exit from overseas investment in detail
• Chapter 13 deals with loans to foreign entities, which has been significantly rationalised
• One of the considerable reliefs provided in the New OI regime is the extension of the facility of Late Submission Fees (LSF) to the reporting non-compliances of overseas investment
• LSF has been dealt with in detail in Chapter 14
• Chapter 15 discusses every possible aspect of compounding
• The Foreign Exchange Management (Acquisition and Transfer of Immovable Property Outside India) Regulations, 2015 have also been repealed and have been subsumed in the New OI Regime
• The provisions with regard to the acquisition and transfer of immovable property outside India under the new regime have been discussed in Chapter 16
• Chapter 17 deals with the reporting requirements for overseas investment.
• Chapter 18 presents the intricacies of TCS provisions on remittances under the liberalised remittance scheme in a simplified manner
• Chapter 19 presents the reporting requirements for overseas investments

The detailed contents of the book are as follows:

• Introduction
• New Overseas Investment Regime
• New Definitions Introduced
• Erstwhile Investments
• Framework of New Overseas Investment Regime
• Overseas Investment
• Investment by Resident Individuals
• Overseas Investment by Trusts/Societies/AD Banks/Depository/Stock Exchanges, etc.
• Investment in IFSC
• Role and Responsibility of AD Banks
• Exit from Overseas Investment
• Overseas Investment by AIFs and Venture Capital Funds
• Loan to Foreign Entities
• Late Submission Fees (LSF)
• Compounding under FEMA
• Acquisition of Immovable Property Outside India
• Cross Border Transaction with Regard to Virtual Currencies
• TCS on Remittances under Liberalised Remittance Scheme
• Reporting of Overseas Investments

About the author

Ms Sudha G. Bhushan is a member of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India. She is an Insolvency Resolution Professional, a Registered Valuer registered with the Insolvency and Bankruptcy Board of India, and an independent director registered with the Ministry of Corporate Affairs.

She founded the multifaceted consulting firm Taxpert Professionals and is an Independent Director with Aurionpro Solutions Limited, Choice International Limited, DIGJAM Limited, Matix Fertilisers and Chemicals Ltd, West Coast Papers Mills Ltd., and JNK India Ltd.

She is an expert in India’s FDI Policy and Foreign Exchange Management Act, 1999 (FEMA), matters related to Enforcement Directorate [ED]and has worked in the domain for over three decades. She is a sought-after consultant in complex issues related to FEMA and ED.

She has authored 7+ books on the FDI, FEMA and International Taxation. She is the Entrepreneurs Now committee chairperson Indian Merchant Chamber – LW. She is a member of Indo French Chamber of Commerce and Industry. She has been/is a member of the Committee of International Taxation, Valuation Committee, Member of Editorial Committee of WIRC of ICAI and Committee of women empowerment of ICAI. She is the subject matter leader with regard to FEMA with Taxmann Advisory.

Her experience is gained by extensive working with international firms. She started her career with Deloitte, then moved to a German Consulting firm and then to an Indian investment banking arm of an Irish Company. She advises corporates, PSUs as well as government authorities in complex transactions. Rendering tax and regulatory advisory services, she has overseen and played a crucial role in executing complex international transactions involving issues revolving around Forex laws, taxation, repatriation, minimisation of tax exposure, Foreign Investment (Inbound and outbound) etc. She also advises multinational companies, including Fortune 500 companies.

A scholar throughout her life, she has been awarded many awards and recognitions, including ‘Women Empowerment through CA Profession’ by the Northern India Regional Council (NIRC) of the CA Institute.

Her articles are regularly published in the Journals of several institutes like IMC, ICAI etc. She is visiting faculty at prestigious business schools like Kohinoor Business School, NMIMS etc. She is among the Global thought leader in Foreign Direct Investment, having been called to share her thoughts in international forums like Horasis Asia meet.