FEMA Compliance
Expert advisory on foreign exchange regulations, RBI filings, and cross-border transactions for NRIs and businesses.
What We Cover
- FDI compliance — FC-GPR, FC-TRS filings with RBI
- ODI (Overseas Direct Investment) filing and advisory
- ECB (External Commercial Borrowings) returns and compliance
- FEMA advisory for NRIs — property purchase, sale, and repatriation
- LRS (Liberalised Remittance Scheme) compliance
- Compounding applications for FEMA contraventions
- Joint venture and subsidiary structuring for cross-border businesses
- DTAA benefit advisory and foreign income taxation
Key Deliverables
How We Work
Transaction Assessment
Analyse the proposed cross-border transaction for FEMA applicability, sectoral limits, pricing, and route (automatic vs approval).
Structuring & Documentation
Structure the transaction to comply with FEMA rules. Prepare all required documents, board resolutions, and valuation reports.
RBI Filings
File all mandatory reports with RBI including FC-GPR, FC-TRS, ECB returns, ODI forms, and annual compliance filings.
Ongoing Monitoring
Track compliance deadlines, downstream investment norms, and annual reporting requirements. Conduct periodic FEMA health checks.
Is This Service Right for You?
Frequently Asked Questions
What is the penalty for FEMA non-compliance?
Under Section 13 of FEMA, the penalty for contravention can be up to three times the sum involved in the contravention, or Rs 2 lakh where the amount is not quantifiable. Continuing contraventions attract a further penalty of Rs 5,000 per day. Compounding of contraventions is possible by making an application to RBI with appropriate compounding fees.
Can an NRI buy property in India?
Yes, an NRI or OCI can buy residential and commercial property in India (not agricultural land, plantation property, or farmhouse) through funds remitted from abroad or from NRE/NRO accounts. The transaction must be reported to RBI. Sale proceeds of property can be repatriated subject to conditions and limits prescribed under FEMA regulations.
What is FC-GPR and when must it be filed?
FC-GPR (Foreign Currency-Gross Provisional Return) is a filing required with RBI whenever an Indian company issues shares to a foreign investor (FDI). It must be filed within 30 days of allotment of shares. The filing includes details of the investment, pricing, and a CA certificate confirming compliance with FEMA pricing guidelines.
Do you handle ECB compliance?
Yes. We manage the full ECB lifecycle including eligibility assessment, all-in cost ceiling verification, end-use compliance, Form ECB filing (monthly/annually), and closure reporting. We advise on both Track I (foreign currency ECBs) and Track II (rupee-denominated ECBs) frameworks.
What is the Liberalised Remittance Scheme (LRS)?
LRS allows resident individuals to remit up to USD 250,000 per financial year for permissible current and capital account transactions including education, travel, investment in equity/debt abroad, maintenance of relatives, and gifts. We advise on LRS compliance, Form 15CA/15CB certification, and TCS applicability under Section 206C(1G).
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