What is Foreign Exchange Management Act (FEMA)

The Parliament has enacted the Foreign Exchange Management Act, 1999 to replace the Foreign Exchange Regulation Act, 1973. This Act came into force on the 1st day of June 2000. The object of the Act is to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.

This Act extends to the whole of India and will also apply to all branches, offices and agencies outside India owned or controlled by a person resident in India. It will also be applicable to any contravention committed outside India by any person to whom this Act is applicable.

Foreign Investment Implementation Authority (FIIA)

Government of India has set up Foreign Investment Implementation Authority (FIIA) to facilitate quick translation of Foreign Direct Investment (FDI) approvals into implementation by providing a pro-active one stop after care service to foreign investors, help them obtain necessary approvals and by sorting their operational problems. FIIA is assisted by Fast Track Committee (FTC), which have been established in 30 Ministries/Departments of Government of India for monitoring and resolution of difficulties for sector specific projects.

Senior officers of the Department have been designated Nodal Officers for specific states for follow up of FDI cases and to bring to notice of FIIA any difficulties in implementation. In case of any difficulties, nodal officers can be contacted.

Investors may like to visit FAQ wherein most of the relevant questions pertaining to the investment policy and procedures of Government of India are already answered.

We provide Fema / RBI Related Services:
* Legal services for the procedure such as Certification for repatriation of income / assets from India
* Making applications to Reserve Bank of India for purchase / sale of shares, debentures & securities
and directly to and from Residents and Non Residents in India and outside India.
* Making application to Reserve Bank of India for purchase / sale of residential and commercial property
Including renting out of property.