Where does one find the Form ODI?

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Application to Reserve Bank of India for Direct Investment in a Joint Venture/ Wholly Owned Subsidiary Abroad. Form ODI is available as an Annex to the ‘Master Circular on Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad’ dated July 1,2014’ available on the RBI website. With effect from March 2,… Read more »

What measures have been taken by the Government to protect the interests of emigrating workers?

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The Government is committed to protect the interests of Indian emigrants. The PGE makes all efforts to redress the grievances of the emigrants with the help of the recruiting agents, the Indian Missions/posts abroad, foreign governments and/or foreign employers concerned. The Indian Missions provide assistance and take up complaints/grievances of Indian emigrant workers with the… Read more »

What is ‘financial commitment’?

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Financial commitment means the amount of direct investments outside India by an Indian Party – by way of contribution to equity shares or CCPS of the JV / WOS abroad contribution to the JV / WOS as preference shares (for reporting purpose to be treated as loan) as loans to its the JV / WOS… Read more »

There are a large number of Indian workers in the Gulf nations. Are there any special guidelines for Indians immigrating to the Gulf region for employment?

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The Protector General of Emigrants has issued the following guidelines especially for people going to the Gulf for employment: If you are a foreign worker in Saudi Arabia, you can be arrested if you are found without your ‘Iqama’ at any place or time. In the United Arab Emirates (UAE), laws demand that you must… Read more »

What is the procedure for withdrawal of security deposited by an emigrant?

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An emigrant is entitled to withdraw the security deposit after lapse of a period of three years from the date of deposit. The emigrant is required to personally present his/her passport and the used ticket along with the Bank Receipt to the POE concerned. The deposit can be withdrawn from the Bank after taking approval… Read more »

What are the prohibited activities for overseas direct investment?

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Real estate as defined in Regulation 2(p) of the Notification and banking business are the prohibited sectors for overseas direct investment. However, Indian banks operating in India can set up JVs/WOSs abroad provided they obtain clearance under the Banking Regulation Act, 1949, from the Department of Banking Operations and Development (DBOD), CO, RBI. An overseas… Read more »

Who are eligible to make overseas direct investment under the Automatic Route? Who is an “Indian Party”?

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An Indian Party is eligible to make overseas direct investment under the Automatic Route. An Indian Party is a company incorporated in India or a body created under an Act of Parliament or a partnership firm registered under the Indian Partnership Act 1932 or a Limited Liability Partnership (LLP) incorporated under the LLP Act, 2008… Read more »

What is direct investment outside India?

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Unskilled workers and a household service workers seeking employment abroad should furnish (in original) the following documents at the time of obtaining emigration clearance: Passport valid for a minimum period of six months Valid employment visa. Employment contract signed by the foreign employer and duly attested by the Indian Mission or permission letter from the… Read more »

On what grounds can an application for emigration clearance be rejected?

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Subject to other provisions of the Emigration Act 1983, the PoE may reject an application for emigration clearance on any one or more of the following grounds: That the terms and conditions of employment which the applicant proposes to take up are discriminatory or exploitative. That the employment which the applicant proposes to take up… Read more »