Take up Employment
Taking up Employment, Business etc. in India
Indian Nationals on their return from abroad can take
up employment, business or profession in India without any
reference to RBI. With amendment to FERA, 1973, persons of
Indian Origin do not require any permission from RBO for taking
up employment in India.
Foreign Nationals of Indian Origin permanently resident in
India have been granted general exemption from the requirements
of Section 28(I) and 29(ii) of FERA, 1973 vide RBI notification
no- FERA- 146/93-RB DT. 26th April 1993. Accordingly, no
permission of RBI is required in the following cases. (i) For
acting or accepting appointment as agent of any person or
company in the trading or commercial transactions of such person
or company. (ii) To carry on in India any activity of trading,
commercial or industrial nature or to establish a place of
business in India for carrying on such activities. (iii) For
acquiring the whole or any part of any undertaking in India of
any person or company carrying on any trade, commerce or
industry. (iv) For purchasing shares in India of any company
carrying on any trade, commerce or industry.
It will be observed from above discussion that foreign
nationals of Indian Origin not permanently resident in India
will not be exempted from the operations of Sections 28(i) and
29(ii) and will accordingly require necessary permission from
RBI.
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