resident between shares transfer
The method of payment and remittance/credit of sale proceeds in case of transfer of shares between a resident and a non-resident in India is subject to compliance with the regulations under the Foreign Exchange Management Act (FEMA), 1999. The payment and remittance/credit of sale proceeds can be done through the following methods:
Through a normal banking channel: The payment can be made through a normal banking channel, which includes electronic fund transfer (EFT), wire transfer, or any other electronic mode of payment.
Through the Non-Resident External (NRE) or Foreign Currency Non-Resident (FCNR) account: The payment can be made through the NRE or FCNR account of the non-resident, subject to compliance with the regulations prescribed by the RBI.
Through the Foreign Direct Investment (FDI) route: If the transfer of shares is part of a foreign direct investment, the payment can be made through the FDI route, subject to compliance with the regulations prescribed by the RBI.
The sale proceeds of the shares can be remitted to the non-resident's account through any of the above methods, subject to compliance with the regulations under FEMA and any other applicable laws and regulations. The remittance/credit of sale proceeds must be reported to the RBI within the prescribed timelines, using the appropriate forms and documents.
It is important to note that the payment and remittance/credit of sale proceeds in case of transfer of shares between a resident and a non-resident may vary depending on the nature and type of the shares being transferred, the value of the shares, and other factors. Therefore, it is important to consult with a qualified professional, such as a lawyer or a chartered accountant, to ensure compliance with all applicable regulations and laws.
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Transfer of shares between a resident and a non-resident in India is subject to compliance with the regulations under the Foreign Exchange Management Act (FEMA), 1999. The process and compliance requirements for transfer of shares between a resident and a non-resident are as follows:
Obtain No Objection Certificate (NOC): The transferor must obtain a No Objection Certificate (NOC) from the Reserve Bank of India (RBI) before transferring the shares to a non-resident. The NOC can be obtained by filing the relevant forms and documents with the RBI.
Valuation of Shares: The shares being transferred must be valued as per the guidelines prescribed by the RBI. The valuation can be done by a registered valuer or a chartered accountant.
Issue Share Transfer Deed: The transferor must execute a share transfer deed in favor of the transferee, which must be stamped as per the Indian Stamp Act, 1899.
Report the Transfer: The transfer of shares must be reported to the RBI within 60 days of the transfer, using the appropriate forms and documents.
Compliance with Tax Regulations: The transferor and the transferee must comply with the tax regulations under the Income Tax Act, 1961, and any other applicable tax laws.
It is important to note that the compliance requirements for transfer of shares between a resident and a non-resident may vary depending on the nature and type of the shares being transferred, the value of the shares, and other factors. Therefore, it is important to consult with a qualified professional, such as a lawyer or a chartered accountant, to ensure compliance with all applicable regulations and laws.