Section 29: Restrictions on establishment of place of business in India .-(1) Without prejudice to the provisions of section 28 and section 47 and notwithstanding anything contained in any other provision of this Act or the provisions of the Companies Act, 1956 (1 of 1956), a person resident outside India (whether a citizen of India or not) or a person who is not a citizen of India but is resident in India, or a company (other than a banking company) which is not incorporated under any law in force in India [* * *] or any branch of such company, shall not, except with the general or special permission of the Reserve Bank,

Q: What does Section 29 of The Foreign Exchange Regulation Act, 1973 (FERA) deal with?

Section 29 FERA pertains to "Restrictions on establishment of place of business in India .-(1) Without prejudice to the provisions of section 28 and section 47 and notwithstanding anything contained in any other provision of this Act or the provisions of the Companies Act, 1956 (1 of 1956), a person resident outside India (whether a citizen of India or not) or a person who is not a citizen of India but is resident in India, or a company (other than a banking company) which is not incorporated under any law in force in India [* * *] or any branch of such company, shall not, except with the general or special permission of the Reserve Bank,". It is part of the The Foreign Exchange Regulation Act, 1973, a legislation enacted by the Parliament of India. Section 29 of The Foreign Exchange Regulation Act, 1973 (FERA) prohibits restrictions on establishment of place of business in India .-(1) Without prejudice to the provisions of section 28 and section 47 and notwithstanding anything contained in any other provision of this Act or the provisions of the Companies Act, 1956 (1 of 1956), a person resident outside India (whether a citizen of India or not) or a person who is not a citizen of India but is resident in India, or a company (other than a banking company) which is not incorporated under any law in force in India [* * *] or any branch of such company, shall not, except with the general or special permission of the Reserve Bank,. As verified on 22 May 2026.

Q: Is Section 29 FERA still in force?

Yes, Section 29 of the The Foreign Exchange Regulation Act, 1973 is currently in force across the Republic of India.

Q: What is धारा 29 FERA?

धारा 29 FERA is the Devanagari Hindi reference for Section 29 of the The Foreign Exchange Regulation Act, 1973. Section 29 of The Foreign Exchange Regulation Act, 1973 (FERA) prohibits restrictions on establishment of place of business in India .-(1) Without prejudice to the provisions of section 28 and section 47 and notwithstanding anything contained in any other provision of this Act or the provisions of the Companies Act, 1956 (1 of 1956), a person resident outside India (whether a citizen of India or not) or a person who is not a citizen of India but is resident in India, or a company (other than a banking company) which is not incorporated under any law in force in India [* * *] or any branch of such company, shall not, except with the general or special permission of the Reserve Bank,. As verified on 22 May 2026.

Q: What is Dhara 29 FERA?

Dhara 29 FERA is the Roman Hindi reference for Section 29 of the The Foreign Exchange Regulation Act, 1973. "Dhara" means "Section" in Hindi. Section 29 of The Foreign Exchange Regulation Act, 1973 (FERA) prohibits restrictions on establishment of place of business in India .-(1) Without prejudice to the provisions of section 28 and section 47 and notwithstanding anything contained in any other provision of this Act or the provisions of the Companies Act, 1956 (1 of 1956), a person resident outside India (whether a citizen of India or not) or a person who is not a citizen of India but is resident in India, or a company (other than a banking company) which is not incorporated under any law in force in India [* * *] or any branch of such company, shall not, except with the general or special permission of the Reserve Bank,. As verified on 22 May 2026.

Q: How to cite Section 29 of The Foreign Exchange Regulation Act, 1973?

Cite as: "Section 29, The Foreign Exchange Regulation Act, 1973 (FERA)" in legal briefs. For academic writing, use the BlueBook format: The Foreign Exchange Regulation Act, 1973, 1973, § 29 (India).

Law on Tips Editorial Board

carry on in India, or establish in India a branch, office or other place of business for carrying on any activity of a trading, commercial or industrial nature, other than an activity for the carrying on of which permission of the Reserve Bank has been obtained under section 28, or;

acquire the whole or any part of any undertaking in India of any person or company carrying on any trade, commerce or industry or purchase the shares in India of any such company.

[(1-A) A company (other than a banking company) in which the non-resident interest is more than forty per cent., shall not, except with the general or special permission of the Reserve Bank, carry on in India any activity relating to agriculture or plantation or acquire the whole or any part of any undertaking in India or any person or company carrying on any activity relating to agriculture or plantation or purchase the shares in such company.] [ Inserted by Act 29 of 1993, Section 16 (w.e.f. 8.1.1993).]

(2)

(3)

Notwithstanding anything contained in sub-section (2), the Reserve Bank may, having regard to-

(4)