Foreign Exchange Management Act

  • Single Master Forms Registration with RBI
  • Issue and Transfer of Shares to Non-Residents
  • FLA Reporting
  • Branch Office/Project Office/Liaison Office
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Foreign Exchange Management Act, 1999 (FEMA) is an Act which was introduced to regulate the Foreign Exchange inflow and outflow in India for promoting and securing the foreign investment and foreign exchange market in the country.

FEMA is applicable to all parts of India. The act is also applicable to all branches, offices and agencies outside India owned or controlled by a person who is a resident of India.

Under the Act, there are various requirements which needs to be complied with at the time of Foreign Investments.


  • Issue of Shares of a Company to Non-Residents or NRI
  • Transfer of Shares from Resident to Non-Resident
  • Annual Returns filing by a Company with RBI in case of Foreign Assets and Liabilities
  • Software Export Declaration with RBI
  • Full Fledge Money Changer (FFMC) License
  • Application for setting up of Branch Office/Project Office/Liaison Office in India

All such activities requires some compliance under FEMA to be complied with from time to time as prescribed under the Act.

RBI has recently announced the introduction of Single Master Form (SMF) with the objective of integrating the extant reporting structures of various types of foreign investment in India.