The transactions in foreign exchange in India and by Indian businesses outside India are regulated by the Reserve Bank of India or the RBI. The foreign exchange transaction needs to comply with the provisions of the Foreign Exchange Management Act, 1999, and the rules, regulations, and circulars issued thereunder, from time to time. Besides, the RBI also issues circulars from time to time to incorporate the changing global economic scenario.
With so many provisions and regulations, compliance with RBI/FEMA requirements becomes complicated. But globalization has led to a manifold increase in the importance of these compliances.
To cater to the increasing need to ease these processes and provide a one-stop solution to our clients, our experienced team provides services related to any of the issues under RBI/FEMA, from consultancy to statutory compliances, some of which are:
- Advisory on transactions involving foreign exchange, inbound and outbound transactions
- Drafting of agreements
- Setting up of partnerships and joint ventures by NRIs or persons of Indian origin
- Regular compliances with the provisions by filing various documents and forms as required
- Certifications of various forms
- Obtaining approvals from competent authorities and making representations
- Compounding and regularization of offenses under FEMA
- Due diligence and audits of compliances at regular intervals
