Loading...

Overseas Corporate Body (OCB)

It is a company, partnership firm, society, overseas trust, and other corporate body located outside India owned directly or indirectly by NRIs with at least sixty percent of beneficial ownership.

Zerodha (Trade with the best stock broker)

Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account and start trading today.

Overseas Corporate Body (OCB) is a company, partnership firm, society, overseas trust, and other corporate body located outside India owned directly or indirectly by Non-Resident Indians with at least sixty percent of beneficial ownership.

OCBs were de-recognized as a class of eligible investors in India in September 2003 and thus prohibited to invest under the Portfolio Investment Scheme. Later, in 2015 with significant changes in FDI policy, OCB got a re-recognition as an NRI investment vehicle but with a twist.

New Rules:

  • The earlier 60% control by NRI has been amended to 50%
  • An OCB need not be a corporate body. It can be a company, trust or a partnership firm.

 

ProStocks Non-PIS NRO Trading

 

Answered on

Zerodha (India's Best & No. 1 Broker)

  Special Offer - Free Equity Delivery and Mutual Funds

  • Brokerage-free equity delivery trades.
  • Brokerage-free Direct Mutual Fund.
  • Pay ₹20 per trade for Intraday & F&O.
  • The best trading platform in India.

Open Instant Demat Account Read Reviews


Comments

Add a public comment...