fema

Opening Liaison Offices in India

Fema / RBI - Prospective companies and investors looking to enter India must carefully consider their options for investment and available avenues for establishing a business presence in India. Foreign Investor or Foreign companies can open a liaison office in India for promoting and facilitating the parent company business activities and which can ac...

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LEI Code – A Unique Code for Entities Participate in Financial Transaction

Fema / RBI - The LEI system has been implemented in a phased manner for participants (other than individuals) in the over-the-counter markets for rupee interest rate derivatives, foreign currency derivatives and credit derivatives in India in terms of RBI circular FMRD.FMID No. 14/11.01.007/2016-17 dated June 1, 2017 and for large corporate borrowers ...

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Investment by Resident Indian in JV/WOS abroad

Fema / RBI - With the aim to diversify the business abroad, avail the opportunity given by the overseas market, in order to make full utilization of full capacity, branding, and many more reasons to inspire the entities to go overseas, invest and set up an entity outside the jurisdiction. Further, it’s not only benefits the investing entities, but [...

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How to Set up Branch/ Liaison Office in India

Fema / RBI - Recently, India has been growing at an unprecedented pace which has aroused a keen interest among foreign entities to establish their operations in India and tap into one of the largest and fastest growing market, and have access to some of the best human resources in the world....

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How to Set up Project Office in India?

Fema / RBI - 'Project Office' means a place of business to represent the interests of the foreign company executing a project in India but excludes a Liaison Office.The project office is the ideal method for companies to establish a business presence in India, if the object is to have a presence for a limited period of time. ...

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Investments by NRIs as FDI and in stock changes

Fema / RBI - Non-Resident Indians (NRIs) can invest in India as per the following regulation of Foreign Exchange Management (Transfer or issue of Security by a person resident outside India) Regulations, 2000 dated May 3, 2000 as amended from time to time: i. As per Regulations 5(1), NRIs may invest in shares/Compulsorily Convertible Preference Shares...

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Draft ‘Fugitive Economic Offenders Bill, 2017’ -Govt invite comments

Fema / RBI - It is widely felt that the spectre of high-value economic offenders absconding from India to defy the legal process seriously undermines the rule of law in India. It is, therefore, felt necessary to provide an effective, expeditious and constitutionally permissible deterrent to ensure that such actions are curbed....

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NHAI Masala Bond Launched at London Stock Exchange

Fema / RBI - The Union Minister of Road Transport & Highways and Shipping Shri. Nitin Gadkari yesterday launched the NHAI Masala Bond issue at the London Stock Exchange. The NHAI issue witnessed an overwhelming response from a wide range of investors, some of them being first timers to participate in the Masala Bond market....

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SIT directs ED to take action against Export Companies

Fema / RBI - SIT directs Enforcement Directorate to take necessary action under FEMA with respect to 216 Companies for the period before 1st March, 2016 and against 572 Companies for the period after 1st March, 2016 for which each such Company had export proceeds pending for realisation for more than Rs. 100 crore....

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NRIs can now join & subscribe to NPS online through eNPS

Fema / RBI - NRIs have a pivotal role to play in the Indian economy. India has the second-largest Diaspora in the world, with around 29 million people living in over 200 countries and out of these 25% live in the Gulf countries. Most of the Indians going to the Gulf and some other countries go for employment and return to India after having worked abr...

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SC held provisions of Section 45(1) of PMLA provision Imposing Twin Condition for granting Bail as unconstitutional

Nikesh Tarachand Shah Vs. Union Of India & Anr. (Supreme Court of India) - SC held that Section 45(1) of the Prevention of Money Laundering Act, 2002, insofar as it imposes two further conditions for release on bail, to be unconstitutional as it violates Articles 14 and 21 of the Constitution of India. ...

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PML Act, 2002 Provisions cannot be invoked Retrospectively

M/s Obulapuram Mining Company Pvt Ltd Vs Joint Director (Karnataka High Court) - By consent of the learned advocates appearing for the parties, all these writ petitions are taken up for hearing together, as similar questions of law are involved in these writ petitions, in order to avoid a conflicting judicial opinion. We are also informed that facts are, almost, identical....

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Members cannot be appointed part-time to Fema Tribunal

Union Of India And Others Vs S. Srinivasan (Supreme Court of India) - Rule 2 (1) (b) provides the qualification to be a Member. Needless to say, the same is in total accord with the Act. The first proviso to Rule 5 introduces part time Member. We have held that the said proviso, as far as it introduces the concept of part time Member, is contrary to the provision cont...

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FEMA – Claim for interest in the nature of compensation for wrongful retention of money is not maintainable

Directorate Of Enforcement Vs. Subhash Muljimal Gandhi (Delhi High Court) - Directorate of Enforcement Vs. Subhash Muljimal Gandhi ( Delhi HC)- that interest at the rate of 6% per annum under Rule 8 could have been awarded to the respondent on the seized Indian currency only. The learned Single Judge has however applying the said Rule also awarded interest on the seized fo...

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SC asks Ketan Ketan Parikh and Co to Deposit deposit 50 percent of penalty imposed for Fema violations

Ketan V. Parekh Vs. Special Director, Directorate of Enforcement and another (Supreme Court of India) - Ketan V. Parekh Vs. Special Director, Directorate of Enforcement and another (Supreme Court)- Ketan Parikh, Kartik Parikh and M/s. Panther Fincap and Management Services Ltd, were imposed a penalty of Rs. 80 Crores, 12 Crores and 40 Crores respectively by the Special Director of Enforcement, Mumbai ...

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RBI liberalises ECB policy on Rupee denominated bonds

RBI/2018-19/48 A.P. (DIR Series) Circular No.9 - (19/09/2018) - It has been decided, in consultation with the Government of India, to liberalise some aspects of the ECB policy including policy on Rupee denominated bonds as indicated below:...

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Risk Management and Inter-bank Dealings: Revised guidelines

RBI/2017-18/134 A. P. (DIR Series) Circular No. 18 - (26/02/2018) - Risk Management and Inter-bank Dealings: Revised guidelines relating to participation of a person resident in India and Foreign Portfolio Investor (FPI) in the Exchange Traded Currency Derivatives (ETCD) Market...

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PML (Maintenance of Records) Sixth Amendment Rules, 2017

Notification No. G.S.R. 1318(E) - (23/10/2017) - Provided also that in case the officially valid document presented by a foreign national does not contain the details of address, in such case the documents issued by the Government departments of foreign jurisdictions and letter issued by the Foreign Embassy or Mission in India shall be accepted as...

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PML (Maintenance of Records) Fifth Amendment Rules, 2017

Notification No. 6/2017 - (16/10/2017) - Obtaining a certified copy by reporting entity shall mean comparing the copy of officially valid document so produced by the client with the original and recording the same on the copy by the authorized officer of the reporting entity in a manner prescribed by the regulator....

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Facilities for Hedging Trade Exposures invoiced in Indian Rupees

RBI/2017-18/75 A.P. (DIR Series) Circular No. 08 - (12/10/2017) - To hedge the currency risk arising out of genuine trade transactions involving exports from and imports to India, invoiced in Indian Rupees, with AD Category I banks in India....

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Recent Posts in "fema"

Opening Liaison Offices in India

Prospective companies and investors looking to enter India must carefully consider their options for investment and available avenues for establishing a business presence in India. Foreign Investor or Foreign companies can open a liaison office in India for promoting and facilitating the parent company business activities and which can ac...

Read More
Posted Under: Fema / RBI |

LEI Code – A Unique Code for Entities Participate in Financial Transaction

The LEI system has been implemented in a phased manner for participants (other than individuals) in the over-the-counter markets for rupee interest rate derivatives, foreign currency derivatives and credit derivatives in India in terms of RBI circular FMRD.FMID No. 14/11.01.007/2016-17 dated June 1, 2017 and for large corporate borrowers ...

Read More
Posted Under: Fema / RBI |

Investment by Resident Indian in JV/WOS abroad

With the aim to diversify the business abroad, avail the opportunity given by the overseas market, in order to make full utilization of full capacity, branding, and many more reasons to inspire the entities to go overseas, invest and set up an entity outside the jurisdiction. Further, it’s not only benefits the investing entities, but [...

Read More
Posted Under: Fema / RBI |

How to Set up Branch/ Liaison Office in India

Recently, India has been growing at an unprecedented pace which has aroused a keen interest among foreign entities to establish their operations in India and tap into one of the largest and fastest growing market, and have access to some of the best human resources in the world....

Read More
Posted Under: Fema / RBI |

How to Set up Project Office in India?

'Project Office' means a place of business to represent the interests of the foreign company executing a project in India but excludes a Liaison Office.The project office is the ideal method for companies to establish a business presence in India, if the object is to have a presence for a limited period of time. ...

Read More
Posted Under: Fema / RBI | ,

Closure of Liaison Office in India- Compliances to be done

FCA Neeraj Bhagat Liaison offices (LOs) are a popular option for foreign investors exploring the Indian market for the first time, and unsure of how the country’s liberalizing FDI caps will affect their business. In contrast to other business structures, LOs allow foreign companies to establish a light footprint in India while keeping t...

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Posted Under: Fema / RBI | ,

Options for foreign companies setting up business in India

As a market, India has always been attractive to foreign companies because of the rapidly growing market. But in terms of actually taking steps to register a company in India, many foreign companies shelved their plans because of the perceived difficulties in doing the necessary paperwork....

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FEMA / RBI Compliance Checklist

FEMA (Foreign Exchange Management Act, 1999) has acted as a catalyst for the growth and development of various sectors in India. The main aim of FEMA is to facilitate external trade, balance the payments, promote the orderly development, and maintain the foreign exchange market in India. This article covers the Important Compliances to be...

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Liaison Office vs Branch Office vs Wholly Owned Subsidiary

Forming an Entity in India India has made its mark on the world map with the rapidly rising growth rate, notable human resources, technology advancement and the government supporting and encouraging the ease of business. India is expected to takeover Britain in this year to become the world’s fifth largest economy. It is only natural [&...

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Posted Under: Fema / RBI |

Royalty payment and Make in India

According to a report by Business line, the government is thinking to cap royalty payment to foreign firms. This move is expected to be taken up in cabinet sometime soon....

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Posted Under: Fema / RBI |

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