If you are dealing in Foreign Currency or have an Import and Export Business, you need to adhere to the Foreign Exchange Management Act, 1999 and the regulations made thereunder. It is a comprehensive act that deals with all the aspects where foreign transactions are involved, whether import-export business, buying or selling foreign assets, availing of loans, foreign remittances etc. This emphasizes the importance of FEMA Advisory Services or FEMA Compliance Service, especially for international businesses.
FEMA Compliance and Advisory Consulting Services
Exim Advisory has been a trusted partner for businesses seeking comprehensive FEMA compliance and advisory services since 1995. With over 50 expert FEMA consultants, we assist organizations in navigating the complex regulations of the Foreign Exchange Management Act (FEMA), ensuring compliance and mitigating risks.
Our FEMA Services
FEMA Compliance
Staying compliant with FEMA regulations is crucial for businesses engaging in cross-border transactions. Our compliance services include:
-
Ensuring adherence to FEMA rules for inbound and outbound investments.
-
Filing necessary returns and reports with the Reserve Bank of India (RBI).
-
Assistance in obtaining approvals for transactions requiring RBI consent.
-
Resolving non-compliance issues to prevent penalties.
FEMA Advisory
Our FEMA advisory services provide tailored guidance to address your unique business challenges, such as:
-
Structuring cross-border transactions to maximize efficiency while staying compliant.
-
Advisory on foreign direct investments (FDI) and external commercial borrowings (ECB).
-
Guidance on repatriation of funds, royalties, and technical know-how fees.
-
Advice on export-import transactions, guarantees, and remittances.
FEMA Consulting Services
As a leading FEMA consulting firm, we provide end-to-end support, including:
-
Comprehensive reviews of your FEMA compliance framework.
-
Representation during RBI audits or inquiries.
-
Training sessions to educate your team on FEMA regulations.
Why Choose Exim Advisory?
Experience and Expertise
With nearly three decades of experience, we have established ourselves as one of the most reliable FEMA consulting firms in India and abroad. Our team of 50+ FEMA consultants brings in-depth knowledge and practical insights to deliver exceptional results.
Global Presence
We Exim Advisory serve clients across major business hubs in India, including Noida, Delhi, Gurugram, Mumbai, Bangalore, Chennai, and Pune. Additionally, our international presence in Singapore and Canada allows us to assist global businesses seamlessly.
Customized Solutions
We understand that every business is unique. Our FEMA advisory services are tailored to your specific industry, transaction patterns, and organizational goals.
Key Issues We Address
Inbound and Outbound Investments
Navigating the complexities of FDI policies and overseas direct investments can be daunting. We ensure your investments comply with FEMA and RBI guidelines.
External Commercial Borrowings (ECB)
We help businesses structure and report ECBs in accordance with FEMA rules to avoid non-compliance penalties.
Export and Import Transactions
Our experts provide end-to-end support for managing export and import payments, ensuring adherence to FEMA guidelines for transactions and reporting.
Cross-Border Structuring
We assist with creating efficient structures for cross-border mergers, acquisitions, and other transactions, keeping regulatory compliance at the forefront.
Our Clientele
We cater to a wide range of industries, including:
-
Manufacturing
-
IT and Technology
-
Pharmaceuticals
-
Financial Services
-
Startups and SMEs
Contact Us
Partner with Exim Advisory for unparalleled FEMA compliance and advisory consulting services.
Locations:
-
India: Noida, Delhi, Gurugram, Mumbai, Bangalore, Chennai, Pune
-
International: Singapore, Canada
Get in Touch Today! Transform your business with our expert FEMA consulting services. Contact us now to schedule a consultation.
FEMA Implications in Import-Export Business
Here are the different aspects and implications of provisions and regulations of FEMA for import-export business:
- Advance Payments & Export: In case you receive advance payment for export, you need to adhere to the provisions of FEMA for export business. In such cases, the exporters are under an obligation to ensure the shipment of goods is completed within 1 year from the date of receipt of advance payment.
- Realisation and Repatriation: Exporters are under an obligation to realise the export proceeds within a period of 9 months from the date of export. This period shall be 15 months in case the goods are exported from a warehouse established outside India.
- Settlement of Import Payments: The payment remittances for imports shall be made not later than 6 months from the date of shipment. In certain cases, like the amount withheld towards guarantee of performance, suppliers and buyers’ credit etc., remittances can be made beyond 6 months.
- Reporting & Compliance: You need to comply with the legal requirements under FEMA, including submission of relevant declarations to the RBI and authorised banks. Violations can lead to significant fines and penalties that can obstruct the smooth flow of business operations.
- Lending and Borrowing: In case the exporters or importers are utilising credit facilities like letter of credit, export credit, buyers’ credit, guarantees etc., they need to ensure compliance with the provisions and regulations of FEMA.
FAQ
FEMA was introduced to ensure transparency in international transactions and transactions involving foreign exchange, including regulating the import-export businesses. Non-compliance and adherence can lead to a levy of stringent fines and penalties and therefore, FEMA advisory services assist you in staying compliant and adhering to all the provisions and regulations.
Some of the key reporting requirements under FEMA include filing of Foreign Liabilities and Assets (FLA) return, ECB returns, reporting of foreign investments and other declarations by RBI.
As per the provisions of FEMA, an exporter needs to realise the export proceeds within 9 months from the date of export.
The documents required for executing cross border transactions as per FEMA include Foreign Inward Remittance Certificates (FIRC), invoices, shipping bills, bank statements, agreements and any necessary approvals obtained from RBI.