An Overseas Corporate Body (OCB) is a company, partnership firm, society or any other corporate body owned directly or indirectly by a Non-Resident Indian. It also includes an overseas trust where not less than 60% beneficial interest is held by Non-Resident Indians directly or indirectly. Such ownership interest must be held by them and not in the capacity of a nominee.
OCBs cannot invest in the Indian markets as the RBI derecognised OCBs in 2003.