Overseas Corporate Body (OCB)

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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.