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Foreign Companies- FDI, Name Rules, Notary, Apostillation & Consularisation

Foreign Companies- Few Important Aspects Including FDI, Rules on Names, Notary, Apostillation And Consularisation At the outset, the recent changes w.r.t. the running of business in India, it includes the start-ups are getting recognition, the MSMEs are getting their dues clear due to the stringent payment norms issued by Government of In...

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Posted Under: Fema / RBI |

FAQ on Liberalised Remmitance Scheme

As a legal US resident, am I still subject to the LRS? Residential Status as per Income Tax Act As per the provisions of section 6 of Income Tax Act: A taxpayer would qualify as a resident of India if he satisfies one of the following 2 conditions: 1. Stay in India for a year […]...

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Posted Under: Fema / RBI |

Insight Into Prevention of Money Laundering Act, 2002

The term Money Laundering means procedures adopted in legitimizing assets earned which may be not under the four corners of the law. The source of such ill-gotten wealth may be Corruption, Organized Crime, Narcotics Trade, prostitution arms trade etc....

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Posted Under: Fema / RBI |

Mandatory Requirement to Obtain LEI Code pursuant to RBI Circulars

Mandatory Requirement To Obtain Legal Entity Identifier (LEI) Code Pursuant To RBI Circulars/ Instructions Legal Entity Identifier (LEI) is a 20-character unique code which every company is required to obtain who are parties to financial transactions.  The concept of LEI and its deadlines are issued pursuant to RBI circulars dated 29.11....

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Posted Under: Fema / RBI |

18 recent changes related to FEMA and FDI Policy

Foreign Direct Investment (FDI) means any investment made by a person resident outside India on a repatriable basis in capital instruments of an Indian company or to the capital of an LLP. FDI means investment through capital instruments (equity shares, debentures, preference shares and share warrants) by a person resident outside India i...

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Posted Under: Fema / RBI |

How to file RBI Form FC-GPR

Every company having foreign investment (FDI), is required to report Reserve Bank Of India. Below two conditions need to be looked in to in case of FDI . 1. Foreign investment must be in compliant to FDI policy. 2. Securities issued must be in accordance with the Foreign Exchange Management. As announced  in the First Bi-monthly [&helli...

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Posted Under: Fema / RBI |

FEMA-Key Points

I. Introduction  FERA 1973 replaced by FEMA 1999 FERA being strict, not suitable in the new and liberal economy FEMA, 1999 came into effect from 01.06.2000 FEMA is soft, liberal and simplified, aims at boosting foreign trade investment and more in tune with the country’s new economic era. The objectives of FEMA being- To consolidate [&...

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Posted Under: Fema / RBI |

FEMA –A summary of Compounding Orders

Foreign Exchange Management Act (FEMA/ Act), 1999 provides for compounding of contraventions done under the Act. Any contravention of the Act, any rules, regulations, notification, orders, directions, circulars issued thereunder can be compounded. Compounding is the voluntarily admitting the contravention, pleading guilty and seeking redr...

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Posted Under: Fema / RBI |

Incorporating a Non- Banking Financial Company (NBFC)

Article explains about Non- Banking Financial Company (NBFC), Importance of NBFC in Indian Economy, Principal Business activities (Financials Activities) of NBFC’s recognized but not limited, Restricted Activities: Activities that are exclusively restricted to be carried on by the NBFC’s, Difference between NBFC & Bank, Requiremen...

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Posted Under: Fema / RBI |

RBI modifies and increases P2P Lending Restriction to INR 50 Lakh

Reserve Bank of India has announced certain changes pertaining to peer- to- peer lending platform.  RBI made amendments to the P2P lending platform on 23rd December 2019. The purpose of changes is to make it more consumers friendly and to protect consumer interest. The largest banking body of India consciously made the alteration. As per...

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Posted Under: Fema / RBI |