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FEMA definition
FEMA stands for Foreign Exchange Management Act, was passed in the parliament in 1999. The objective of enforcing the FEMA Act is to promote external trade and financial transactions across borders. It was also enforced to promote the development and maintenance of the foreign exchange market in the country.
The following are the proposed regulations of the Foreign Exchange Management Act, 1999, to enforce the foreign exchange management regulations in India:
- To empower the union government to impose restrictions in matters of foreign exchanges and foreign payments made to a person inside the country.
- To impose the necessary restrictions on free forex transactions.
- To impose restrictions on foreign payments coming from abroad. FEMA allows such transactions to be conducted by authorized individuals only-.
- To maintain surveillance over the authorized professionals in matters of foreign exchange services, so as to ensure the economic well-being of the country.
- To empower the apex financial institution to impose the necessary restrictions on selling and withdrawing foreign exchange currencies.
- Permitting Indian residents to own immovable or movable properties in foreign lands, bringing foreign currencies into the country, purchasing or inheriting any property outside India, and others.
- Establishing and enforcing guidelines for the import and export of commodities is one of the most important regulations of the Foreign Exchange Management Act, some of them are mentioned below:
- FEMA guidelines related to importing rules.
- FEMA guidelines for outward remittance.
- FEMA guidelines for inward remittance.
- FEMA guidelines for export realization.
Applicability of FEMA Act
The jurisdiction of the applicability of the FEMA rules lies both inside the country and to the agency offices outside the country, owned or managed by any Indian citizen. FEMA is applicable in the following cases:
- Foreign securities and exchanges transactions.
- Exporting goods and services from India to abroad.
- Exceptions to securities, as mentioned in Public Debt of 1994.
- Purchase, sale, and exchange of any kind on a trans-border level.
- Banking, insurance, and financial services.
- Any business owned by an overseas citizen.
- Non-resident Indians (NRIs)
Services offered by our FEMA consultants
Our legal professionals with expertise in forex regulations provide a vast and focused outlook on the following services. Go through them and choose your pick for the kind of service you are seeking and connect with us:
- Consultations relating to foreign exchange transactions.
- Assistance in the routine matters involving interpretation of FEMA rules.
- Advisory services for inbound investments.
- Advisory services for outbound investments.
- Litigation assistance and representation before authorities.
- Assistance for setting up liaison, branch, and project offices in and outside India.
- Professional Business Licensing services like CDSCO License, IE Code, etc.
- Annual Return filing services.
- Business valuation assistance and certification.
- Assistance with filing specific forms like FCGPR, FCTRS, etc.
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Condition to get our FEMA expertise
We, at Registrationwala, consider everyone eligible who requires our expertise in FEMA, regardless of the scale of your business, big or small. No such conditions are applicable to you for opting our FEMA counselling. Feel free to contact us.
Documents required for our FEMA Consultation
We, at Registrationwala, have the most basic requirements from our clients to provide them with the FEMA consultant’s advice they seek.
- Proof of Identification like Aadhar card, PAN card, driving license, passport, etc.
- Proof of client’s business, example, Certification of Incorporation of the company from the concerned authority.
- Proof of residence, says any utility bill, electricity bill, water bill, passport, etc.
- And documents about the services you require.
Our Process
Our experts at FEMA provide our customers with the required consultation services in the most conducive manner. All the customer needs to do is to reach out to us. You can proceed with your application in the following way:
- Reach out to us and our experts will jot down your requirements.
- After getting an image of your needs, we give you an initial consultation.
- If you like what we have to offer, then we proceed.
- Then, as per the services required by you, we ask for the requisite documents and draft some of the documents on our own.
- Finally, we deliver the required FEMA service.
If you are looking for seasoned, professional, and ethical Fema Consultants, you know you have nowhere to go but to Registrationwala. Get in touch with us, let us know about your requirements, and then let our FEMA consultants take it from there.
Why go to Registrationwala for FEMA expertise?
Registrationwala provides active FEMA counselling in the metropolitans, Delhi and Mumbai so as to help our clients with a plethora of services like the one mentioned below:
- To provide consultations to the foreigners and NRIs for investments in Indian businesses.
- To help the clients understand the complex FEMA rules and regulations.
- To assist in both inbound and outbound investments.
- To assist in legal matters that includes litigation
- Representation in matters regarding foreign exchange management rules.
- Conducting all the necessary legwork required to set up global business entities like joint ventures.
What can you expect from us?
Experience, professionalism, and ethical conduct of services.
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