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Learn morePractice 05 · FEMA, FDI & RBI
FEMA, FDI and RBI advisory for cross-border investment
Foreign investment into India — and Indian investment abroad — comes with strict RBI reporting timelines and pricing rules. We structure the transaction correctly and handle the filings, so the money moves without regulatory risk.
Get the structure and reporting right the first time
FEMA contraventions usually arise from missed reporting deadlines or pricing that doesn’t meet the rules — and they surface at the worst time, during the next investor’s due diligence or an exit.
We advise before the transaction, prepare the valuation and documentation it needs, file through the RBI’s FIRMS portal and your authorised dealer bank, and regularise past lapses through late submission fees or compounding.
Scope
What we handle
Inbound investment (FDI)
FDI structuring & approvals
Sector caps, entry routes, pricing guidelines and government approval applications, including investments that need prior approval because of the investor’s country.
FDI reporting
Form FC-GPR for share allotments, FC-TRS for transfers between residents and non-residents, and related filings on the FIRMS portal.
Annual FLA return
The annual return on foreign liabilities and assets for companies and LLPs that have received FDI or made overseas investments.
Downstream investment
Compliance for Indian companies with foreign investment that invest further into other Indian entities.
Outbound, borrowing & regularisation
Overseas direct investment (ODI)
Setting up or acquiring businesses abroad under the Overseas Investment Rules and Regulations, 2022, including ODI forms and annual performance reports.
External commercial borrowings (ECB)
Structuring borrowings from overseas lenders or parent companies, obtaining the loan registration number and filing monthly ECB returns.
Compounding & late submission fees
Regularising past FEMA contraventions through late submission fees or compounding applications to the RBI.
NRIs & foreign offices
Advisory on NRI investments, and setting up branch, liaison or project offices of foreign companies in India.
How we work
How we work
A disciplined path from first review to resolution — with one coordinated team.
Diagnose
We start with your documents, not assumptions — filings, financials, agreements and any notices.
Structure
A written plan with options, risks, costs and timelines, agreed with you before work begins.
Execute
Filings, submissions, documentation and negotiations handled by one coordinated team.
Sustain
Calendars, reviews and monitoring so issues are caught early — and defended if they arise.
FAQ
FEMA, FDI & RBI — common questions
What is the deadline for filing Form FC-GPR?
Form FC-GPR must be filed within 30 days of allotting shares to a foreign investor. Transfers between residents and non-residents are reported in Form FC-TRS within 60 days of the transfer or receipt of consideration, whichever is earlier.
Who needs to file the FLA return?
Indian companies and LLPs that have received foreign direct investment or made overseas direct investment in the current or previous years must file the annual return on foreign liabilities and assets with the RBI by 15 July each year.
What happens if FEMA filings were missed?
Delayed reporting can usually be regularised by paying a late submission fee, while other contraventions may need to be compounded with the RBI. Dealing with them early is far easier than during an investor’s due diligence.
Do you deal with the RBI directly?
Filings are made through the RBI’s portals and your authorised dealer bank. We prepare the forms, valuation certificates and supporting documents, liaise with the bank and respond to queries until the filing is approved.
Related practices
Often engaged together
Talk to a senior advisor
Share your requirement and we’ll set out the options, timeline and fee before any work begins.