FEMA, FDI & RBI Compliance
End-to-end FEMA and RBI compliance — FDI advisory, FC-GPR and FC-TRS filings, Overseas Direct Investment, External Commercial Borrowings, compounding applications, and NRI investment advisory.
Get FEMA Consultation
100+
FEMA / RBI filings annually
FDI + ODI
Both inbound and outbound
Compounding
Applications filed with RBI
NRI Advisory
Cross-border investment guidance
FEMA & Foreign Exchange Compliance
The Foreign Exchange Management Act, 1999 (FEMA) regulates all transactions involving foreign exchange in India. Unlike its predecessor FERA, FEMA is largely a civil law — violations are compoundable. All foreign investment (FDI), overseas investment (ODI), external borrowings (ECB), and remittances require compliance with FEMA regulations and RBI reporting requirements.
Key regulations: FEMA (Non-Debt Instruments) Rules 2019 for FDI; FEMA (Overseas Investment) Rules 2022 for ODI; FEMA (Borrowing and Lending) Regulations 2018 for ECB. Annual RBI filings include FLA return (by 15 July) for companies with FDI or ODI.
FEMA violations are civil offences — penalties up to 3 times the sum involved or ₹2 lakh, whichever is higher, with a daily continuing penalty. Past violations can be regularised through RBI's Compounding Scheme.
FDI automatic route
No RBI/govt approval — sector conditions apply
FDI approval route
Government/RBI approval required — defence, media, banking
FC-GPR deadline
30 days from date of allotment of shares
FLA return deadline
15 July every year
ODI limit
400% of net worth (automatic route)
FEMA & RBI Compliance Services
FDI Advisory & Structuring
Sector cap analysis, prohibited sector screening, automatic vs approval route determination, and pre-investment structuring for foreign investors entering India.
FC-GPR / FC-TRS Filing
FC-GPR filing within 30 days of share allotment; FC-TRS for transfer of shares between residents and non-residents — filed on RBI FIRMS portal with CA certification.
ODI Structuring
Overseas Direct Investment — Form ODI filing, RBI registration, Annual Performance Report (APR), and ongoing reporting for JV/WOS structures abroad.
ECB Compliance
External Commercial Borrowing — structuring, RBI LRN registration, monthly ECB-2 reporting, end-use compliance, and hedging requirement advisory.
FEMA Compounding
Regularise past FEMA violations through RBI compounding — application drafting, hearing support, and post-compounding compliance monitoring.
NRI Investment Advisory
NRE/NRO account advisory, property purchase/sale, repatriation structuring, Form 15CA/15CB, and FEMA-compliant gifting and inheritance planning.
How We Handle FEMA Compliance
Transaction Analysis
Identify the nature of transaction (FDI, ODI, ECB, remittance); classify as permissible under FEMA; determine applicable regulation and reporting requirement.
Pre-Transaction Structuring
Advise on shareholding structure, entry route (automatic/approval), pricing compliance (Rule 11UA / DCF for FDI), sector cap compliance, and conditionalities.
Regulatory Filing
Draft and file FC-GPR/FC-TRS on FIRMS portal; prepare Form ODI on RBI portal; ECB LRN registration; all filings with required CA certifications.
Annual Compliance
FLA return filing by 15 July; ODI Annual Performance Report (APR); ECB monthly ECB-2 reporting; SEBI FPI reporting for portfolio investors.
Post-Investment Monitoring
Track ongoing obligations (repatriation conditions, end-use compliance, sectoral conditions); identify trigger events requiring fresh filings.
Documents Required
Entity & Transaction Documents
- Board resolution authorising the transaction
- Shareholder/subscription agreement
- Valuation report (Rule 11UA / SEBI-registered merchant banker)
- Company MOA/AOA and certificate of incorporation
- FIRC (Foreign Inward Remittance Certificate) for FDI receipts
RBI / FEMA Filings
- Prior FC-GPR/FC-TRS filings (if any)
- Prior FLA return (if foreign investment already exists)
- For ODI — audited financials, group structure, ODI entity documents
- For ECB — loan agreement, lender details, end-use plan
- For compounding — transaction details, AD bank correspondence
Why Choose JCA for FEMA Compliance?
India Entry Expertise
Foreign companies setting up in India — automatic vs approval route, LO/BO/PO structures, and sector-specific entry planning.
FIRMS Portal Filing
All FC-GPR and FC-TRS filings done directly on the RBI FIRMS portal with correct documentation and CA certification.
Compounding Track Record
FEMA compounding applications accepted by RBI — including for delayed FC-GPR, ODI reporting lapses, and ECB non-compliances.
Pricing Compliance
FDI pricing rules (Rule 11UA / fair market value) and ODI pricing conditions verified before every transaction — avoiding invalid filings.
NRI Repatriation
NRO to NRE fund transfer, Form 15CA/15CB, TRC (Tax Residency Certificate), and DTAA planning for non-resident investors.
Deadline Monitoring
FC-GPR within 30 days, FLA by 15 July, APR by December — all deadlines tracked so you never face compounding liability.
What Our Clients Say
“Our Singapore parent remitted ₹3 crore to our Indian subsidiary but the FC-GPR filing was missed. JCA filed a compounding application with RBI, explained the delay, and got it regularised at a nominal penalty. Professional handling of a sensitive matter.”
Subramanian Rajan
MD, Indian Subsidiary of Singapore MNC
“JCA structured our ODI into a UAE holding company — Form ODI filing, RBI approval, APR reporting, and ongoing advisory. They handled the entire cross-border structure including the DTAA planning. Seamless.”
Vijay Krishnan
Promoter, Export-Oriented Business, Chennai
“As NRIs returning to India, we needed to restructure our overseas bank accounts and Indian property. JCA guided us through the FEMA regulations, filed the necessary forms, and structured the repatriation correctly. Zero hassle.”
Nalini and Rajan Subramaniam
Returning NRIs, Bangalore