FEMA/RBI Compliances

Foreign Exchange Management Act, 1999 (‘FEMA’) is one of the key Indian legislations brought into force with an objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India. Reserve Bank of India (‘RBI’), which is the Apex Bank, governs FEMA and Regulations made thereunder.

In India, Foreign Direct Investment (‘FDI’) inflows have been witnessing increase every year. Similarly, Indian companies are going global by investing abroad in the recent past.

The importance of FEMA compliances is indispensable considering the fact there are penal consequences in case of non-compliances. There are lots of Annual Compliances specified under FEMA for Indian Companies having FDI and for Indian entities having investments in overseas Joint Venture (‘JV’) and/or Wholly Owned Subsidiary (‘WOS’) (‘collectively referred as ODI’). 

Our consulting Services includes,
  • Advisory on Inbound Structuring i.e. structuring of Investments into India & advising on the nature & structure of the Business entity (e.g., Liaison Office, Branch Office, Joint Venture, Wholly Owned Subsidiary etc).
  • Assisting in setting up of, or purchase of an existing entity.
  • Assisting in obtaining Approvals & Compliance with various requirements of RBI/ FEMA.
  • Approval from the Foreign Investment Promotions Board (FIPB), Ministry of Finance and assistance in preparation of the Foreign Collaboration Agreements.
  • Advisory on change/ exit from existing Business model.
  • Advisory on Outbound Structuring, i.e. choice of appropriate jurisdiction, structuring of investments etc.
  • Assisting in regular FEMA compliances as per statutory provisions like filing of Form/Returns etc.

Our Compounding Services Includes,

  • Preparation and Filing of Application with RBI.
  • Assisting in Compounding of Offences under FEMA.
  • Assisting in the process of voluntarily admitting the contravention, pleading guilty and seeking redressal under FEMA,1999.
  • Submission of applications seeking compounding of contraventions under section 3(a) of FEMA to the Directorate of Enforcement at RBI.
  • Representation before RBI.