Dear Members,
A foreign national, being Director of India Company, is residing in India for last 3 year and having valid Business Visa. Being Director he may continue to stay in India for further period.
Another shareholder in Company, who is resident, intends to sell his share to this Foreign National.
On this background, can this Foreign National be treated as person resident in India (as he is living for more than 3 yrs and for business purpose) as per FEMA and one can skip the requirement of filing Form FC-TRS for transfer of shares?
Please guide.
transfer
statusfemashare
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