A Singapore-based NRI or OCI holder can invest in an Indian company or LLP on a repatriation basis, treated as foreign investment with pricing and reporting rules, or on a non-repatriation basis, treated almost like domestic investment. We review the business, negotiate protections suited to an investor in Singapore and make sure FEMA filings are done so you can exit cleanly.
- Document route
- Singapore notary public, then apostille from the Singapore Academy of Law
- Time difference
- Singapore is 2h30 ahead of IST all year
- Law
- FEMA 1999 and NDI Rules 2019
- Routes
- Repatriable (Schedule 1) or non-repatriable (Schedule 4)
Legal Advisory for NRI Investors from Singapore: how it works
We start with your objective and whether you invest personally or through a Singapore holding company, which turns the investment into foreign direct investment by that company and brings in the treaty and beneficial ownership rules. Due diligence covers the company's MCA filings, cap table, ESOPs, convertible instruments, charges, litigation and tax compliance, with a short written risk report.
We negotiate the term sheet, shareholders agreement and articles with protections such as information rights, consent over new share issues and debt, board or observer seats with video meetings, anti-dilution, pre-emption and exit rights, and arbitration, often seated in India or with SIAC rules where the parties prefer. Repatriable money comes from Singapore or your NRE account, and the company files Form FC-GPR within 30 days. After closing, we can review the annual accounts and board papers for you, so that a new funding round or a large loan does not dilute you without your knowledge.
What clients in Singapore should know
- Many Indian startups have Singapore holding structures; check whether you are investing in the Indian company or its Singapore parent, as the protections differ.
- Farming, plantation and real estate trading businesses remain closed to NRI money on every route.
- Gains on Indian shares acquired after April 2017 are taxable in India under the amended treaty.
Step by step from Singapore
Video consultation
A call at a time that suits Singapore, after we have read your documents.
Documents signed in Singapore
Singapore notary public, then apostille from the Singapore Academy of Law
Work in India
Our team files, appears and follows up in India, and shares scans of everything filed.
Result and handover
Certified copies and originals are couriered to you in Singapore where needed.
The full guide
This page covers what changes when you are in Singapore. For the law, the documents and the step-by-step procedure, read our main page on Legal Advisory for NRI Investors, or see all services for clients in Singapore and the Doing Business in India practice area.
Questions from clients in Singapore
Should I invest personally or through my Singapore company?
It depends on control, tax and exit plans. We advise after understanding your structure.
Can we choose SIAC arbitration?
Yes. Indian law allows foreign-seated arbitration between an Indian company and foreign parties, and Indian courts enforce such awards.
What filings does the Indian company make?
It reports a repatriable allotment to the RBI on the FIRMS portal within 30 days and files a return of foreign liabilities and assets every July.