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Foreign Exchange Management Act

Foreign Exchange Management Act is the process of limiting a company’s exposure to foreign currency fluctuations. In most cases, this is done by companies that engage in foreign trade. Foreign exchange, or forex, is the conversion of one country’s currency into another. In other words, a currency’s value can be pegged to another country’s currency, such as the U.S. dollar, or even to a basket of currencies. 1 A country’s currency value may also be set by the country’s government.

What is Foreign Exchange?

  1. Investopedia defines “Foreign Exchange (forex or FX) as the trading of one currency for another.”
  2. Foreign Exchange (forex or FX) is a global market for exchanging national currencies with one another. 
  3. The Exchange venues comprise the largest securities market in the world by nominal value, with trillions of dollars changing hands each day.
  4. Foreign exchange trading utilizes currency pairs, priced in terms of one versus the other.
  5. Forwards and futures are another way to participate in the forex market.

What is Foreign Exchange Management Act, 1999

The Foreign Exchange Management Act, 1999 (FEMA) is an Act of the Parliament of India “to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India”.

Applicability of FEMA (Foreign Exchange Management Act)

FEMA (Foreign Exchange Management Act) is appropriate to the entire of India. And pertinent to the offices and workplaces situated outside India. The administrative center of FEMA is arranged in New Delhi. It is known as Enforcement Directorate.

Foreign Exchange laws / Foreign Exchange Management Act are /is one of the most stringent law of the country and are /is subject to changes at rapid pace. As an organization, it is necessary to make sure that all your transactions related to foreign exchanges are in compliance with law and if not, necessary precautionary measures shall be undertaken to rectify the same.

Please contact the best lawyers in Delhi for all transactions, inbound & outbound,  undertaken during the period under scrutiny from the point of compliance with foreign exchange laws and provides required FEMA  Advisory including remedial measures, in case of any deficiency.

Legallands has the best FEMA Lawyers for the below given key deals

  1. Acquisition and Transfer of Immovable Property in India;
  2. Transfer of Immovable Property Outside India;
  3. Acquisition of Agricultural Land in India by NRI/POI;
  4. Establishment of Branch Offices in India by Foreign Entities;
  5. General Guidelines for Exports under FEMA;
  6. General Guidelines for Imports under FEMA;
  7. Investment by an Indian Resident outside India;
  8. Merchanting Trade Transactions under FEMA;
  9. Remittance of Asset by Non-Resident Indian (NRI) or Person of Indian Origin (PIO);

LEGALLANDS FEMA Attorneys for Appeals and Representations

Our FEMA Attorneys and Solicitor’s Legal services include Appeals and representation before the Court FEMA and ED in the case of gross violation of the provisions of the FEMA and in terms of money laundering.

We provide Legal Supports in the following: 
  • RBI for Compounding Legal Assistance
  • ED in Prosecution Matter Litigation Services
  • FEMA Tribunals Appeals & Representation
  • ED Legal Guidance & Litigation
  • Appeals Before Tribunal

 

Contact the Best FEMA Lawyers, Law firm in Delhi today, LEGALLANDS LLP will help you with all the matters relating to FEMA, FDI, and Business Setup advisory in India and Abroad. Contact today at +91 11 46045777 or [email protected]  

 

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