RBI, FEMA & Cross-border

File note, re-checking a precedent against the 2024-26 changes

Letter to AD bank, where the bank's requirement goes beyond the FEMA Rule

Residential Status under Three Statutes

Classification memo, control, FOCC and beneficial ownership

Regulators, AD Banks and Portals

Cross-border transaction inventory, client intake sheet

Three-statute sign-off sheet for a cross-border transaction

The NDI Framework, Routes, Caps, Prohibited Sectors and Government Approval

Equity Instruments Versus Debt, The Classification That Decides Everything

Pricing Guidelines, What FEMA Requires on Price

Land-border Countries, Beneficial Ownership and Press Note 2 of 2026

FIRMS, Entity Master, Business Users and the Single Master Form

FC-GPR, Issue of Equity Instruments

FC-TRS, Transfers Between Residents and Non-residents, Deferred Consideration and Escrow

Form CN, Form ESOP, Form DI, Form InVi, LLP-I, LLP-II and Form DRR

Downstream Investment and Indirect Foreign Investment

Share Swaps, Gifts, Inheritance and Non-cash Consideration

NRIs and OCIs: Repatriable and Non-repatriable Investment, and the Portfolio Route

FPIs, FVCIs and Foreign Funds on the Cap Table

Foreign Investment in LLPs, Partnership Firms and Proprietorships

The FLA Return

Sector Rules Staff Actually Meet: E-commerce, Trading, Real Estate, Insurance, Financial Services, Startups

Exit and Repatriation: Sale, Buy-back, Capital Reduction and Liquidation

Valuation requirements note to the client, term-sheet stage

Who May Sign, Registered Valuer, Merchant Banker, Chartered Accountant, Cost Accountant, Engineer

FEMA Valuations, FDI, Swaps, Conversions and Overseas Investment

Companies Act Valuations, Preferential Issue, Sweat Equity, Non-cash Assets, Schemes and IBC

Income-tax Valuations, Rule 57, s.79, s.92(2)(m), Slump Sale, ESOP and Indirect Transfer

Accounting Valuations, Ind AS 113, 102, 103, 36 and 109

One Transaction, Three Valuations, Reconciling the Reports and Choosing Dates

Reading and Reviewing a Valuation Report, Methods, Contents, Defects and Formats

The ECB Framework After the 2026 Overhaul

Eligible Borrowers and Recognised Lenders, Including Foreign Parents, NRIs and Directors

Limits, Maturity, Cost, Currency and Hedging

End-use, What the Money May and May Not Be Used for

Obtaining the LRN, Form ECB 1

Reporting, Form ECB 2, Changes, Cancellation and Late Fees

Security and Guarantees for ECB

Refinancing, Prepayment, Restructuring and Conversion of ECB into Equity

Rupee-denominated Bonds, FCCBs and FCEBs

Trade Credit for Imports

Companies Act Compliances on Foreign Borrowing

Tax on Cross-border Borrowing, Withholding, Treaty Rates, Thin Capitalisation and Transfer Pricing

Borrowing and Lending Outside ECB, NRIs, Relatives, Directors and Loans to Non-residents

The FEM (Guarantees) Regulations 2026, Residents Guaranteeing Non-residents and the Reverse

The ECB File, Term-sheet Review, Resolutions, Certificates and the Closing Checklist

The Overseas Investment Regime, ODI, OPI and the Concepts That Decide the Route

Eligibility, Financial Commitment Limit and Sources of Funds

Bona Fide Business, Prohibited Activities, Financial Services and Strategic Sectors

Round-tripping, Layers and the Structures That Fail

Modes of Acquisition and Pricing, Subscription, Purchase, Swap, Gift, Inheritance

Debt, Guarantees, Pledges and Charges as Financial Commitment

Reporting, Form FC, Evidence of Investment, Form OPI, APR and FLA

Restructuring, Disinvestment, Write-off and Closure of an Overseas Entity

Resident Individuals Abroad, LRS Investments, Foreign ESOPs and Startups Overseas

Companies Act and Accounts for Overseas Subsidiaries

Tax on Outbound Structures, POEM, Foreign Dividends, Tax Credit, Transfer Pricing, Schedule FA and Black Money

Overseas Branches and Offices of Indian Companies, and IFSC / GIFT City

Current Account Transactions, The 2000 Rules and Their Schedules

The Liberalised Remittance Scheme

TCS on Foreign Remittances and Overseas Tour Packages

Paying Non-residents, Forms 145 and 146, the CA Certificate and Withholding

Receiving Money from Abroad, Inward Remittances, Purpose Codes, FIRC and e-BRC

Remittance of Assets, The USD 1 Million Facility and Emigrants

Foreign Currency Accounts, EEFC, Accounts Abroad, RFC, Possession and Surrender

Hedging Foreign Exchange Exposure

Cross-border Employment, Expatriates, Secondments, Social Security and Foreign-parent ESOPs

The Export-import Regulations, 2015 Framework and the 2026 Regulations from 01.10.2026

Export of Goods, Declaration, Realisation, EDPMS, Extension, Set-off and Write-off

Export of Services and Software, SOFTEX, Invoicing and Realisation

Imports, Advance Remittance, Payment Timelines, Evidence of Import and IDPMS

Merchanting Trade, Third-party Payments, Netting and Rupee Invoicing

Project and Service Exports Abroad

Royalty, Technology, Software and Cloud Payments Abroad

The Trade Overlay, IEC, Customs, SEZ/EOU and Export Incentives

GST on Cross-border Supplies, Exports, Imports of Services, Intermediaries and Cross-charges

Choosing the Presence, Liaison Office, Branch, Project Office, Subsidiary or LLP

Setting Up a Branch, Liaison or Project Office

Running the Office, Permitted Activities, Annual Activity Certificate, Accounts, Extension and Closure

Companies Act Chapter XXII, FC-1, FC-3, FC-4 and the Foreign Company's Accounts

Tax on a Foreign Company's Indian Presence, PE, Form 162, Branch Profits and Withholding

Acquisition of Immovable Property in India by NRIs, OCIs and Foreign Nationals

Transfer, Gift, Inheritance and Repatriation of Sale Proceeds

Tax on Property Transactions with Non-residents, TDS by the Buyer, Lower Deduction and Capital Gains

NRI Bank Accounts, NRE, NRO, FCNR(B) and SNRR

Residents with Assets Abroad, and Loans and Gifts Between Residents and NRI Relatives

Returning NRIs and Change of Residential Status

Appointing an NRI or Foreign National as Director, DIN, DSC, Apostille and KYC

The Resident Director, Designated Partner and Managerial Person Tests

Remuneration, Sitting Fees and Reimbursements to Non-resident Directors

Loans, Deposits and Guarantees Between the Company and its NRI Directors and Shareholders

Beneficial Ownership, s.90, PMLA and Press Note Tests Side by Side

Non-resident Shareholders, Meetings, Voting, Rights, Bonus, Transmission and Dividends

Who is Liable, Directors and Officers under FEMA, the Companies Act and the Income-tax Act

Board meeting location and minutes protocol

When a Company Becomes an NBFC, The Principal Business Test

Registration, Exemptions from Registration and the 2026 Carve-out

Core Investment Companies

Scale-based Regulation and the 2025 Consolidated Directions, What Binds a Small NBFC

NBFC Ongoing Compliance, Returns, Auditor Certificate, KYC, Fair Practices and Change in Control

Deposits, Companies under ss.73-76, NBFCs, and the Unregulated Deposit Schemes Act

Payments and Digital Lending, The Triggers a CA Must Spot

Foreign Investment in NBFCs and Fintech, and NBFC-specific Tax and Companies Act Points

Cross-border Mergers and Demergers

The Reverse Flip, Bringing a Foreign Holding Company Home

Winding Up, Strike-off and Conversion of Companies with Foreign Investment

Deal Mechanics, Deferred Consideration, Escrow, Indemnities and Earn-outs Across the Border

Competition Act, Stamp Duty on Foreign-executed Documents, and FCRA

Acquiring an Indian Company from a Non-resident, and Selling to One, The Transaction Map

The Contravention Map, What is a Contravention, Who is Liable, and Limitation

Late Submission Fee, Computation and Process

Compounding under the 2024 Rules

Adjudication, Appeals, the Directorate of Enforcement, and the PMLA and Black Money Overlap

The Remediation Playbook, Old Defaults Found in Diligence

Withholding on Payments to Non-residents, The Complete Method

Transfer Pricing and Cross-border Related Parties, With the s.188 Overlap

PE, Business Connection, Significant Economic Presence and Indirect Transfers

Audit and Disclosure, CARO, Rule 11(e), Schedule III, Tax Audit and Ind AS 21

Tax definitions clause for cross-border agreements, dual-track

Deemed Dividend, Cash Loans, Unexplained Credits and the Source of Foreign Money

The FEMA and RBI Compliance Calendar for a Company Client

The FEMA Health Check, The Review Programme

CA Certificates for Cross-border Work

Scoping and Engaging, Letters, Fees and the Client Intake

Letter to the client, a FEMA default has been found