Foreign Exchange Management Act (FEMA), 1999 provisions are perhaps the most misunderstood and most prone to forex violations by NRI’s, who find themselves under the radar of the regulatory and enforcement agencies in India such as Reserve Bank of India (RBI) & Enforcement Directorate (ED)

Forex Violations are also commonly referred to as Hawala Transactions in the Punjabi Language

A vast majority of NRI’s find themselves in violation and can face enquiries once they are found to have undertaken hawala transactions

NRI Services Inc. is perhaps one of a handful of FEMA Practitioners in India which provides the following FEMA Compliance Services to its clients:

  1. Advisory Relating to Repatriation under $1 Million Scheme to NRI’s
  2. Advisory Relating to Repatriation exceeding $1 Million to NRI’s
  3. Compounding of FEMA Contraventions before Reserve Bank of India (RBI)
  4. Handling Hawala Cases of NRI’s before Enforcement Directorate (ED), Preparing Submissions & Raising defences to minimise penalty
  5. Filing of Forms FC-GPR, FC-TRS, LLP-I, LLP-II, FLA, APR pertaining to FDI Investments into India
  6. Filing of Form ODI-I, ODI-II, ODI-III Pertaining to Outward Foreign Investments from India
  7. Furnishing FEMA Declarations, CA Certificated required under FEMA for outward remittances
  8. Filing of various approvals on behalf of NRI’s before Reserve Bank of India (RBI) in case of agricultural land purchases, disposals, inheritance and succession related IP cases
  9. Hawala Issues Arising out of Round Tripping Representation Advisory
  10. Setting up NRO, NRE & FCNR Accounts in India Advisory for NRI’s
  11. Overseas Citizen of India (OCI) Card Facilitation Services for OCI’s
  12. Portfolio Investment Services (PIS) for NRI’s in India
  13. Borrowing & Lending Advisory for NRI’s in India
  14. Immoveable Property Related Inheritance Issues FEMA Advisory in India
  15. Liasion Office/Project Office/Branch Office Related FEMA Advisory in India
  16. FDI Advisory for Investment into India Companies & LLP’s
  17. Returning NRI’s FEMA Advisory

NRI Services Inc. Team of late has been handling some very high profile cases of renowned NRI’s before ED & RBI in India.