Hello professionals!
Why was FERA replaced by the FEMA? The reason behind the major change?
Please share the process and Guideline for for calculation of cost for Contravention of Paras 9(1)(A) and 9(1)(B) of Schedule 1 of FEMA 20, and Paras 3.1(I)(A)(2) of Foreign Exchange Management (Mode of Payment and Reporting of Non Debt Instruments) Regulations, 2019.
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Hi Everyone!
If a person resides in India for more than 182 days in the previous Financial Year for tourist purpose, whether he will be considered as PRI (Person resident in India) under Foreign Exchange Management Act, 1999?
Please share the format.
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filing
fcgprfctrs
fema
under
format
certificate
A UK Ltd (Registered in the UK) was holding 25% holding in B Ltd (registered in India).
Now ownership of A UK Ltd was transferred to C UK Ltd.
Therefore there is an indirect change of beneficiary ownership of B Ltd ( registered in India)
Is there any FEMA filing requirement in RBI by B Ltd or A UK Ltd?
change
beneficiary
ownership
indirect
case
filing
requirements
fema
what are the time limit within which the subscription amount to be brought by the subscribers of the company after incorporation under FEMA guidelines.
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In case of private placement which is also a downstream investment as per FEMA. We have taken valuation from reg. valuer+ CA which is 5 months old... shareholders approved private placement basis this valuation and the same is filed with ROC.
In RBI filing the said valuation report being old than 90 days we may expect rejection from RBI and in such case we may take another valuation with current date only for filing purpose.
Please let me know if there is anything wrong in this practice. As per my view we don't need to link valuation requirements of both the laws. And can have separate valuation filed with different authorities. Please advise.
fema
investment
downstream
non-filing of the return under FDI scheme within the given timeline (30 days from the date of allotment/ issue of equity instruments) would be reckoned as a contravention under FEMA and could attract penal provisions. How much penalty imposed by RBI ?
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This is in relation to KYC document to be submitted in SMF-RBI for FC-TRS, for share transfer from non-resident to resident Indian:
whose's KYC to be submitted with AD Bank ?
1. Non resident - Seller of shares
2. Indian Resident - buyer of Shares.
Hello Members,
1. Is there any FEMA compliance for transfer of any amount by Indian Company to its South Africa Branch for business purpose (e.g Payment of salary by branch to South African Employee or any payment to local consultant)
2. Is there any FEMA compliance for transfer of any amount by South Africa Branch to its Indian Company (Head Office).
3. Is there any violation in FEMA if South Africa branch receive money on behalf of sales invoice raised by its Indian Company (Head Office)
share
transfer
compliance
fema
Hello All,
An Individual Shareholder of a Private Limited Company was RI when he subscribed to MOA and AOA at the time of incorporation about 10 Years back. He recently became NRI due to his Employment abroad. Compliance under the Companies Act, 2013 have been done and he is NRI in the records of ROC / MCA.
fema
issues
became
recently
shareholder
individual
Dear Members,
A foreign national, being Director of India Company, is residing in India for last 3 year and having valid Business Visa. Being Director he may continue to stay in India for further period.
Another shareholder in Company, who is resident, intends to sell his share to this Foreign National.
On this background, can this Foreign National be treated as person resident in India (as he is living for more than 3 yrs and for business purpose) as per FEMA and one can skip the requirement of filing Form FC-TRS for transfer of shares?
Please guide.
transfer
statusfemashare
residential
