Right and proper management of all foreign exchange transactions and issues, is essential and optimally profitable for all domestic industries and citizens of any country, for the best possible progress, profitability, and peaceful running. Global Jurix does possess adequate knowledge and experience in helping, escorting, and supervising all types of such transnational matters and transactions made by a large number of foreign companies and investors in different desired countries of all around the world. Our rigorous legal services for foreign exchange management and foreign direct investments are promptly and economically available in countries all across the world, essentially including India. Global Jurix is a fully fledged legal organization of India, which has earned worldwide rapport and repute, by virtue of its complete range of elegant and impeccable legal services to almost all sectors of business and economy.
FEMA Act
In India, strict compliance to the rules and regulations of FEMA, is pre-requisite for sound foreign exchange management. We provide all Indian and International people, industries, and organizations, well-rounded and complete legal services for FEMA, and Foreign Direct Investment, anywhere in the world.
The Foreign Exchange Management Act (FEMA) has been established to facilitate optimally all external trading activities (imports and exports) and monetary transactions/payments, and to nurture and promote well-developed and secure foreign exchange market in India. FEMA was formulated in the year 1999 (became an Act since 1st June 2000) in light of the trade liberalization policies of World Trade Organization (WTO) and economic reforms of the Government of India, in place of the FERA. Formed in 1973, the Foreign Exchange Regulation Act (FERA) was considered not fully fit to the post-liberalization policies and deterrent to easy and smooth foreign investments.
FEMA takes majority of the offences caused in the business or sphere of foreign exchange, as Civil ones, and is more lenient to those than the FERA. The applicability and ambit of FEMA encompass the foreign exchange transactions of all industries, offices, agencies, company branches, etc., owned by the resident citizens of India, operative in India or abroad. The Reserve Bank of India (RBI) is hugely empowered in the administration of FEMA, in close consultation with the Central Government of India.