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ODI Compliances Under FEMA
Overseas Direct investment
CA. Kapil Mittal

ODI Compliances under FEMA after making investment overseas

ODI helps companies to get direct access to newer and more extensive markets, better technologies which would enable them to increase their customer base and achieve a global reach, but to unintentional violation of regulations, Investment in wholly owned subsidiaries and joint ventures outside India by person resident in India is governed by FEMA.

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Turnkey Project Exports
Project Exports
CA. Sachin Jindal

Know all about Turnkey Project Exports from India

One of the special modes of carrying out international business is a ¨ Turnkey Project exports ¨. Generally, projects that involve rendering of services like designing, civil construction and erection and commissioning of plants/factories along with supply of machinery, equipment and materials are known as turnkey projects. In this article you can find various essential provisions related to Turnkey project exports.

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Enforcement Directorate
Enforcement
CA. Sachin Jindal

Enforcement Directorate and its major functions under FEMA

Enforcement Directorate (ED) can be defined as a special financial investigation and economic intelligence agency which is burdened with the responsibility of forcing economic laws and fighting economic crimes in India. Its parent organization is the Department of Revenue of the Ministry of Finance, Government of India and it has its headquarters in the heart of the national capital, New Delhi.

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Authorized Dealer under FEMA
FEMA
CA. Kapil Mittal

Authorized Dealer under FEMA

An authorised person under FEMA is an authorised dealer, money changer, off-shore banking unit, or any other person for the time being authorised under sub-section (1) of Section 10 of the Act to deal in foreign exchange or foreign securities. There are mainly 4 categories of authorised persons under FEMA and for an individual to become an authorised person one has to submit the necessary applications along with all the relevant required documents to the Reserve Bank of India.

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Foreign Law firms
FEMA
CA. Kapil Mittal

Foreign Law firms can not Establishes Branch Office (BO) / Liaison Office (LO) / Project Office (PO) or any other place of business in India

Hon’ble Supreme court, in the case of the Bar Council of India vs A.K. Balaji & Ors. vide intermine order, has directed RBI not to grant any permission to any foreign law firm for opening of Liaison Office (LO) in India after date of issuance of such order. Hence, RBI issued directions vide Notification No. RBI/2015-16/215 dated 29th October, 2015 that no foreign law firm shall be permitted to open any LO in India till further orders/notification in this regard.

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