Tue 23-08-2022 13:50 PM
Krishnan Nayar New Delhi, 23rd August 2022 (WAM) – Considering the increasing investment by Indians in the overseas real estate market and other investments by Indian companies abroad, the Ministry of Finance of India has We have simplified the rules to facilitate a more efficient process.
The United Arab Emirates is a prime destination for such individual and corporate investments. Indians are among the top investors in Dubai’s real estate market.
The simplified regulations came into effect yesterday and were published in the Indian Gazette.
“Given the evolving needs of Indian companies in an increasingly integrated global market, there is a need for Indian companies to become part of global value chains,” the Ministry of Finance said.
“The revised regulatory framework for foreign investment offers a simplification of the existing framework for foreign investment and is aligned with current business and economic dynamics. and conducted a comprehensive exercise to simplify these regulations.”
In connection with the surge in real estate investment by Indians in foreign markets such as the United Arab Emirates, the ministry said, “Existing regulations on foreign investment and the acquisition and transfer of real estate outside India are included in these rules and regulations. It has been clarified that
The Gazette notice reveals that various foreign investment-related transactions that previously required approval from the Indian government can now be traded automatically and freely. The ministry said the change would “significantly improve the ease of doing business” with India.
WAM/MOHD AAMIR/Laura Algour