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FEMA Compliance Lawyer for NRIs in Delhi
Expert legal assistance for FEMA compliance, RBI approvals, foreign investment, and forex regulations for NRIs.
What is FEMA Compliance for NRIs?
The Foreign Exchange Management Act (FEMA) regulates all foreign exchange transactions in India. NRIs must comply with FEMA regulations for property investment, bank accounts, repatriation, and foreign investments. Non-compliance can lead to penalties and legal issues.
Key FEMA Regulations for NRIs
NRI Bank Accounts under FEMA
NRE Account
Non-Resident External Account. Repatriable. Funds can be freely transferred abroad.
NRO Account
Non-Resident Ordinary Account. Non-repatriable. For Indian income.
FCNR Account
Foreign Currency Non-Resident Account. Maintained in foreign currency.
Common FEMA Violations by NRIs
Penalties for FEMA Violations
Up to 3 times the amount involved or ₹2 lakhs, plus continuing penalty of ₹5,000 per day. Criminal prosecution possible in severe cases.
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Frequently Asked Questions
What is FEMA?
Foreign Exchange Management Act (FEMA) regulates foreign exchange transactions in India.
Can NRI invest in property in India?
Yes, NRIs can buy residential/commercial property but not agricultural land.
Is RBI approval required for repatriation?
Up to USD 1 million no approval needed. Above that requires RBI permission.
What is Form 15CA?
Form 15CA is a declaration for foreign remittance filed with Income Tax Department.
Can NRI receive gifts from India?
Yes, but must comply with FEMA gift provisions and tax regulations.
What are FEMA advisory fees?
Starts from ₹10,000. Varies based on complexity. Free consultation available.
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