In the past, as per Foreign Exchange Management (Current Account Transactions) Rules, 2000, there was a requirement of RBI’s prior approval for remittances towards purchase of trademark and franchise.
With effect from 10th July 2006 in a Notification issued by the Foreign Exchange Department of the RBI it has been stated that no approval is required from now on for remittances for the use and purchase of trademark
The notification states as below-
"In the Foreign Exchange Management (Current Account Transactions) Rules, 2000, in Schedule III, item number 16 and the entry relating thereto shall be omitted."
This change is definitely good for foreign companies that are investing in India as it further eases the entry of foreign companies in India
With effect from 10th July 2006 in a Notification issued by the Foreign Exchange Department of the RBI it has been stated that no approval is required from now on for remittances for the use and purchase of trademark
The notification states as below-
"In the Foreign Exchange Management (Current Account Transactions) Rules, 2000, in Schedule III, item number 16 and the entry relating thereto shall be omitted."
This change is definitely good for foreign companies that are investing in India as it further eases the entry of foreign companies in India
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