Can an Indian Trust or Society make overseas direct investment ? What are the eligibility criteria for an Indian Trust or Society for making Overseas Direct Investment under the Foreign Exchange Management (Overseas Inve

Yes, an Indian Registered Trust or Society can make Overseas Direct Investment by following certain conditions. Eligibility Criteria for Overseas Direct Investment (ODI) by Registered Trust or Society: Any person being a registered Trust or a registered Society engaged in the educational sector or which has set up hospitals in India may make ODI in a foreign entity with the prior approval of the Reserve Bank, subject to the following conditions, namely: - the foreign entity is engaged in the same sector that the Indian Trust or Society is engaged in; the Trust or the Society, as the case may be, should have been in existence for at least three financial years before the year in which such investment is being made; the trust deed in case of a Trust, and the memorandum of association or rules or bye-laws in case of a Society shall permit the proposed ODI; such investment has the approval of the trustees in case of a Trust and the governing body or council or managing or executive committee in case of a Society; in case the Trust or the Society require special license or permission either from the Ministry of Home Affairs, Central Government or from the relevant local authority, as the case may be, the special license or permission has been obtained and submitted to the designated AD bank.