FVCI stands acronym for Foreign Venture Capital Investor’ (FVCI). FVCIs are investors incorporated and established outside India and registered with the Securities and Exchange Board of India under the Securities and Exchange Board of India (Foreign Venture Capital Investors) Regulations, 2000. They can make an investment in India in terms of schedule 7 of FEMA 20(R) as per the conditions prescribed therein.
The investment made by FVCIs from abroad to be received through banking channels or out of funds held in a foreign currency account and/ or a Special Non-Resident Rupee (SNRR) account maintained by the FVCI with an AD bank in India. The foreign currency account and SNRR account shall be used only and exclusively for transactions under the relevant Schedule. The sale proceeds/maturity proceeds (net of taxes) of securities may be repatriated or credited to the foreign currency account or a Special Non-resident Rupee Account of the FVCI.
Previously, Alternative Invest Fund (AIF), Infrastructure Investment Trust (InvIt), and Real Estate Investment Trust (REIT) commonly known as investment vehicles were included under the erstwhile SEBI (Venture Capital Funds) Regulations, 1996. These entities are now excluded under Foreign Venture Capital Investors Regulations, 2000
Click the following link to know ‘What is meant by Foreign Investment, Foreign Direct Investment, and Foreign Portfolio Investment?’
Related Post:
A computerized accounting system is a software application that automates financial records and reporting processes…
As the name says ‘computerised accounting’ is the use of computers, software, and hardware to…
The Supreme Court today overruled a 2008 decision by the National Consumer Disputes Redressal Commission…
The Bank’s financial statements are prepared under the historical cost convention, on the accrual basis…
The term "accounting treatment" represents the prescribed manner or method in which an accountant records…
The Basel Committee on Banking Supervision (BCBS) is the primary global standard setter for the…