Format pack, 3 formats · FV08-E3

Bona Fide Business, Prohibited Activities, Financial Services and Strategic Sectors

What the foreign entity actually does decides whether the investment is allowed at all, whether extra conditions apply, and whether the limits can be relaxed, test the activity of the foreign entity and of every step-down subsidiary before anyone discusses price.

Length
5 pages
Blanks to fill
90
Files
Word and PDF
Law stated to
16 September 2026

The 3 formats inside

  1. 1Board note on bona fide business activity of the foreign entityOI Rules r.9(1), r.19 · MD-OI paras 3, 20, 21(7)39 blanksOn its own₹149
  2. 2Confirmation letter to the AD bank, ODI in a foreign entity engaged in financial servicesSch. I para 2 · Sch. V para 2 · MD-OI para 21(7)35 blanksOn its own₹149
  3. 3Auditor's certificate, ODI in a host-country start-up funded from internal accrualsOI Rules r.19(2) · MD-OI para 926 blanksOn its own₹149

Read the opening

The first part of “Board note on bona fide business activity of the foreign entity”, as it downloads. Blanks are highlighted.

Note to the Board of Directors of [Name of the Indian entity] — Agenda item [Agenda item number] for the meeting on [Date of Board meeting]

PROPOSED OVERSEAS INVESTMENT IN [NAME OF FOREIGN ENTITY] — NOTE ON BUSINESS ACTIVITY AND ELIGIBILITY

1. Purpose of this note

This note places before the Board the information required to satisfy itself that the proposed investment of [Proposed investment amount] in [Name of foreign entity] is in a foreign entity engaged in bona fide business activity and is not in an activity prohibited or restricted under the Foreign Exchange Management (Overseas Investment) Rules, 2022.

17 more paragraphs and tables follow in the full format.

More in RBI, FEMA & Cross-border