Opening of Escrow account

Can an escrow account be opened without RBI permission for the non-resident permitted to acquire share on stock exchange under FDI scheme?

Answer (1)

Team Legistify

  • Sector-1, Noida

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

Answered on 28 Sep 2018

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