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FEMA - Highlights / Catch Notes

Home Highlights September 2024 Year 2024 This

This text provides instructions and regulations related to ...


Regulations on Overseas Investments: Fees, Restrictions, and Limits Under India's FEMA for Reporting Delays and Financial Commitments.

September 11, 2024

Circulars     FEMA

This text provides instructions and regulations related to overseas investment transactions under India's Foreign Exchange Management Act (FEMA). Key points include: Late submission fees (LSF) matrix for delayed reporting of various overseas investment forms/returns. Fees calculated based on amount involved and years of delay. Maximum 3 years allowed for LSF payment option. Restrictions on further financial commitments if reporting delays exist. Prohibitions on transactions with entities engaged in certain activities or located in specified countries/jurisdictions. Limits on financial commitments through overseas direct investment (ODI), debt, guarantees, pledges/charges. Regulations for ODI in financial services sector. Provisions for overseas investments by resident individuals, mutual funds, venture capital funds, alternative investment funds, trusts/societies. Special provisions for investments in International Financial Services Centres (IFSCs) in India. Rules for acquiring/transferring immovable property outside India. Operational instructions to authorized dealer (AD) banks for processing, reporting overseas investment transactions through online OID application. Requirement for designated AD bank and routing all transactions through it.

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