What is the eligibility criteria for overseas investment by proprietorship concerns and registered trust.

Eligibility Criteria for overseas investment by proprietorship concern are as under: The proprietorship concern is classified as 'Status Holder' as per the Foreign Trade Policy issued by the Ministry of Commerce and Industry, Government of India from time to time; The proprietorship concern has a proven track record, i.e., the export outstanding does not exceed 10% of the average export realisation of preceding three years and a consistently high export performance; The proprietorship concern is KYC (Know Your Customer) compliant. The proprietorship concern has not come under the adverse notice of any Government agency like the Directorate of Enforcement, Central Bureau of Investigation, Income Tax Department, etc. and does not appear in the exporters' caution list of the Reserve Bank or in the list of defaulters to the banking system in India; and The amount of proposed investment (or financial commitment) outside India does not exceed the export realisation or net owned funds of the proprietorship concern as specified by the Reserve Bank of India. Eligibility Criteria for overseas investment by Trust are as under: The Trust should be registered under the Indian Trust Act, 1882; The Trust deed permits the proposed investment overseas; The proposed investment should be approved by the trustee/s; Trust is KYC (Know Your Customer) compliant and is engaged in a bonafide activity; The Trust has been in existence at least for a period of three years; The Trust has not come under the adverse notice of any Regulatory / Enforcement agency like the Directorate of Enforcement, Central Bureau of Investigation (CBI), etc.