Corporate law,Escrow Account,Foreign Direct Investment
Can an escrow account be opened without RBI permission for the non-resident?
Can an escrow account be opened without RBI permission for the non-resident permitted to acquire share on stock exchange under FDI scheme?
By  Esha Dhir  |  17 May 2016  |  Upvotes: 0  | 

1 Answer(s)

Vishal Kumar Thakur
Advocate

Yes, an escrow account for the purpose can be opened under General Permission under Regulation 5(5) of Foreign Exchange Management (Deposit) Regulations.

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