FEMA Compliance and Reserve Bank of India Permissions
Reserve Bank of India allows remittances for Indian Residents. The Master Circulars are issued from time to time by Reserve Bank of India under Indian Froiegn Exchange Management Act. The limit on foriegn remittances and investments are subject to the provisions of Foriegn Exchange Management Act (FEMA) and circulars as are issued by Reserve Bank of India (RBI).
The regulations governing transfer of funds from India to foriegn country are governed by Foreign Exchange Management Act (FEMA).
Reserve Bank of India issues Master circulars under the Act to allow Indviduals and Corporations to remit money outside India. There are however, limitations on how much an indvidual or corporation can remit in a year.
Indviduals/Corporations may also be required to report the activities to Authorised Dealers (ADs) or Reserve Bank of India as per the Act or guidelines framed thereunder.
We at Cross Border Legal, have an expertise to guide you through the process of remittng funds for the purposes of investments ooutside India by indviduals or corporations. We also provide consultancy and drafting services for Gift Deeds, transfer of property or aquisition of shareholding for the purposes of management of finances to enable an investor to plan her investment and migration smoothly
Need to Remit Money? Compliances? Need to Apply for RBI Permissions?
We at Cross Border Legal have a team of experts who can guide and handle all your financial requirements from drafting deeds to procuring permissions, following up with Authourised Dealers (AD) or Banks, Bank Account opening in few foreign Jurisdictions and reporting Annual Performance Reports (APR) to Reserve Bank of India as per legal requirements.
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