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Question and Answers

What is the difference between a subsidiary, branch office, and liaison office?

The three most common entry strategies for foreign companies in India: •   Private Limited Company (Subsidiary): A fully incorporated company in India. Can do all types of business... Read More

FEMA 1 Answer
Can a foreign company set up a fully-owned company in India without an Indian partner?

Yes. India offers 100% Foreign Direct Investment (FDI) in most industries through the Automatic Route; that is, a foreign company can establish a fully-owned company in India without any Indian... Read More

FEMA 1 Answer
We are trying to add a foreign investor(Australian) to our company. In this regard the investor has initiated the FDI amount to our Authorized dealer bank(IDFC). Bank has specific instructions about the investment transfer like.. along with the SWIFT transfer the buyer should send his KYC details as part of the SWIFT transfer via MT199 Swift message. The buyer has visited the bank in Australia and made the transfer but the Bank in Australia are not complying with the request to send a separate MT199 KYC message, saying that they dont do that. IDFC is stuck with this point that if they do not receive MT199 KYC details of the buyer they wont accept the inward remittance. My question is.. is this the norm for any investor to make FDI to India as per RBI regulations in order to proceed for FCTRS proceedings. Why is bank insisting that KYC need to be sent via SWIFT MT199 only, kyc can be done by any other means also. thank you

multiple answers

FEMA Unanswered
What is the difference between a subsidiary, branch office, and liaison office?

The three most common entry strategies for foreign companies in India: •   Private Limited Company (Subsidiary): A fully incorporated company in India. Can do all types of business... Read More

FEMA 1 Answer
Can a foreign company set up a fully-owned company in India without an Indian partner?

Yes. India offers 100% Foreign Direct Investment (FDI) in most industries through the Automatic Route; that is, a foreign company can establish a fully-owned company in India without any Indian... Read More

FEMA 1 Answer
We are trying to add a foreign investor(Australian) to our company. In this regard the investor has initiated the FDI amount to our Authorized dealer bank(IDFC). Bank has specific instructions about the investment transfer like.. along with the SWIFT transfer the buyer should send his KYC details as part of the SWIFT transfer via MT199 Swift message. The buyer has visited the bank in Australia and made the transfer but the Bank in Australia are not complying with the request to send a separate MT199 KYC message, saying that they dont do that. IDFC is stuck with this point that if they do not receive MT199 KYC details of the buyer they wont accept the inward remittance. My question is.. is this the norm for any investor to make FDI to India as per RBI regulations in order to proceed for FCTRS proceedings. Why is bank insisting that KYC need to be sent via SWIFT MT199 only, kyc can be done by any other means also. thank you

multiple answers

FEMA Unanswered
What is the difference between a subsidiary, branch office, and liaison office? Can a foreign company set up a fully-owned company in India without an Indian partner? We are trying to add a foreign investor(Australian) to our company. In this regard the investor has initiated the FDI amount to our Authorized dealer bank(IDFC). Bank has specific instructions about the investment transfer like.. along with the SWIFT transfer the buyer should send his KYC details as part of the SWIFT transfer via MT199 Swift message. The buyer has visited the bank in Australia and made the transfer but the Bank in Australia are not complying with the request to send a separate MT199 KYC message, saying that they dont do that. IDFC is stuck with this point that if they do not receive MT199 KYC details of the buyer they wont accept the inward remittance. My question is.. is this the norm for any investor to make FDI to India as per RBI regulations in order to proceed for FCTRS proceedings. Why is bank insisting that KYC need to be sent via SWIFT MT199 only, kyc can be done by any other means also. thank you

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