What does Foreign Exchange Regulations mean?
Over the years, foreign exchange rules have been deregulated to allow remittance of funds to and from India. Such reforms are made on a continuous basis, in accordance with the policies of the government of economic liberalization.
Nevertheless, there are certain situations that require prior clearance from international regulatory authorities for foreign exchange transfers and remittances..
Foreign Exchange Regulations in India Foreign Exchange Administration Act, 1999. Reserve Bank of India is the highest authority accountable for all main permissions and also controls the rules..
FEMA is a significant piece of legislation that impacts foreign nationals who operate in India, as well as Indian citizens who have left India. It is necessary to abide by the rules on exchange control.
Where the Foreign Exchange Management Act (FEMA) is applicable?
- All subsidiaries, departments and institutions owned and controlled by a person residing in India (PRI)
- All the branch, offices and setups which are owned or controlled by a person resident outside India (PROI)
- It also contains all legislation which have a significant impact on external trade and payments
Key Services offered by us are discussed below:
- Guidance to international companies in India to start up a branch office, a liaison office and a project office, together with the strategies needed to set up a project.
- Regulatory Due Diligence
- Assistance on Foreign exchange transactions.
- Enforcement with the health check, administrative risk analysis of past and current foreign-exchange enforcement
- Description before bodies such as the Reserve Bank of India, the Foreign Investment Promotion Board, etc.
- Financial assistance in the identification of compounding problems and securing permits for potential corporate embezzlement.
We also offer following advice related to FEMA functions such as
- Banking activities involving the form of bank account kept by a foreign national.
- Investments in real estate, investments in India by foreign citizens
- Procedure for remitting wages outside India and other revenue such as interest income, interest earned in India
- Foreign Exchange Rules on investments accumulated outside India prior to entering India
- Resettlement outside India of proceeds of the sale of securities, immovable land, etc.
- Method for acquiring an Indian Person of Origin Card / Indian Overseas Citizenship