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Does FEMA restricts investing through foreign brokers in outside India
27-Jan-2023 (In Corporate Law)
Does fema restricts us from investing in forex or commodity or buying shares through foreign brokers in america or england because recently i was planning on joining a foreign broker for commodity broker and they replied that our countries laws doesnt allow us to do so is it true?
No there is no such restriction although yes there are certain regulations which are to be complied with. I personally deal with many people who have been doing the work in USA and Dubai. RBI guidelines and Circulars are issued from time to time. You can do this work easily without any problems.
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Yes it is true that FEMA restrict you from investing you in foreign commodities through foreign brokers untill and unless it is as per the norms of FEMA, hence the foreign broker's wouldn't be under FEMA so restrictions are there to stop blackmoney
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Adv. Siddhartha Mishra
Allahabad | 100+ Answers
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