Overseas Corporate Body (OCB)

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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.

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.

 

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