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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> Reserve Bank of India <br /><br /> RBI clarifications for start-ups<br /><br /> MANU/APDR/0014/2016 - (11 Feb 2016)<br /><br /> </td> </tr> <tr> <td align="left" valign="top"></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>The Reserve Bank of India has issued clarifications relating to acceptance of payments and issue of shares by start-ups. The Bank reiterates, variously, a start-up in India with an overseas subsidiary is permitted to open foreign currency account abroad to pool foreign exchange earnings out of the exports/sales made by the start-up; it is also permitted to avail facilities for realising receivables of overseas subsidiary or making the above repatriation through Online Payment Gateway Service Providers for a value not exceeding US$10,000.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Relevant : Clarifications relating to Issue of Shares <manuid>MANU/APDR/0013/2016</manuid> Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fourth Amendment) Regulations, 2015 <manuid>MANU/RFEM/0010/2015</manuid> Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 <manuid>MANU/RFEM/0006/2016</manuid></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : start-up, payments, shares, clarifications</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>