FEMA - Foreign Exchange Management Act FEMA by RBI.

FEMA

The Foreign Exchange Management Act (1999) or in short FEMA has been introduced as a replacement for earlier Foreign Exchange Regulation Act (FERA). FEMA became an act on the 1st day of June, 2000. FEMA was introduced because the FERA didn’t fit in with post-liberalisation policies. A significant change that the FEMA brought with it, was that it made all offenses regarding foreign exchange civil offenses, as opposed to criminal offenses as dictated by FERA.

The main objective behind the Foreign Exchange Management Act (1999) is to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments. It was also formulated to promote the orderly development and maintenance of foreign exchange market in India.

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.

The FEMA head-office, also known as Enforcement Directorate is situated in New Delhi and is headed by a Director. The Directorate is further divided into 5 zonal offices in Delhi, Mumbai, Kolkata, Chennai and Jalandhar and each office is headed by a Deputy Director. Each zone is further divided into 7 sub-zonal offices headed by the Assistant Directors and 5 field units headed by Chief Enforcement Officers.

Updated details of FEMA notifications are given below. If you can’t find what you are looking for, fill in the form on the right and our representative will get in touch with you at the earliest.

• Updated FEMA Notifications

• Updated FEMA related APD Series Notification
  

• 1. Transfer or Issue of any Foreign Security Regulations-2000

• 2. Withdrawal of General Permission To Overseas Corporate Bodies Regulations-2003

• 3. Transfer Or Issue Of Security By A Person Resident Outside India Regulations-2000

• 4. Offshore Banking Unit Regulations-2002

• 5. Encashment Of Draft Cheque Instrument and Payment Of Interest Rules-2000

• 6. Authentication Of Documents Rules-2000

• 7. Current Account Transactions Rules-2000

• 8. Adjudication Proceedings And Appeal Rules-2000

• 9 Power Of Reserve Bank To Compound Contravention

• 10. Permissible Capital Account Transactions Regulations-2000

• 11. Issue Of Security in India by Branch Office or Agency Of A Person Resident Outside India Regulations-2000

• 12. Borrowing Or Lending in Foreign Exchange Regulations-2000

• 13. Borrowing And Lending In Rupees Regulations-2000

• 14. Deposit Regulations-2000

• 15. Export And Import Of Currency Regulations-2000

• 16. Acquisition And Transfer Of Immovable Property Outside India Regulations-2000

• 17. Guarantees) Regulations-2000

• 18. Realization Repatriation And Surrender of Foreign Exchange Regulations-2000

• 19. Foreign Currency Accounts By Person Resident in India Regulations-2000

• 20. Possession And Retention Of Foreign Currency Regulations-2000

• 21. Insurance Regulations-2000

• 22. Remittance of Assets Regulations-2000

• 23. Manner Of Receipt And Payment Regulations-2000

• 24. Transfer Or Issue Security by Person Resident Outside India Regulations-2000

• 25. Acquisition And Transfer Of Immovable Property In India Regulations-2000

• 26. Establishment In India Of Branch or Office or other Place of Business Regulations-2000

• 27. Export Of Goods And Services Regulations-2000

• 28. Investment in Firm or Proprietary Concern in India Regulations-2000

• 29. Foreign Exchange Derivative Contracts Regulations-2000

• 30. Transfer Or Issue of Any Foreign Security Amendment Regulations-2004

• 31. Appellate Tribunal For Foreign Exchange Recruitment Salary Allowances Other Conditions Rules-2000