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Foreign Exchange Management Act, 1999 (FEMA)

Advice on various foreign exchange matters under the Act including in connection with that stemming from inbound investment into India and outbound investment outside India Obtaining various approvals under the said Act from the Reserve Bank of India (RBI) and providing assistance in complying with requirement prescribed by the RBI

Branch office

Government of India has allowed foreign companies that are engaged in manufacturing and trading activities abroad to set up Branch Offices in India for certain specified purposes:

Export/import of goods
Rendering professional or consultancy services
Carrying out research work in which the parent company is engaged
Promoting technical or financial collaboration between Indian companies and the parent
Representing the parent company in India and acting as a buying/selling agent in the country
Providing IT services and developing software in India
Tendering technical support for the products supplied by parent/group companies
Undertaking activities for foreign airline/shipping companies

A branch office is not allowed to carry out retail trading, manufacturing (except within SEZs) or processing activities in India. Branch offices are allowed to be set up in SEZs to carryout manufacturing and service activities in the country without specific approval from RBI, subject to prescribed conditions.

Such branch offices could be established with the approval of the government of India and may remit outside India profit of the branch, subject to applicable Indian Rules & Regulation.

Liaison/Representative office

To enter the Indian market, the foreign companies set up a Liaison/ Representative office in India. This office is not allowed to undertake any business activity in the country or earn any income. In fact the role of Liaison/ Representative office is limited to collecting information about the market opportunities and about the prospects of its company’s products. Any person residing outside India is permitted by the Reserve Bank of India (RBI) to establish a Liaison office in the country and may carry out the following activities:May represent in India the parent company or group companies. May conduct research work in those areas in which the parent company or the group companies are engaged. May promote export and/or from/ to India. May promote technical or financial collaborations between the parent or group companies in the country. May act as a communication channel between the parent company and the Indian companies. Such offices are permitted only for 3 years initially but it may be extended from time to time.

Project Office

Those foreign companies that are planning to execute specific projects in India are permitted by RBI to set up temporary project/ site offices in the country. Such approval is generally accorded in respect of approved by appropriate authorities or whether the project is financed by the Indian bank/ Financial Institution or else from a multilateral/ bilateral international financial institution.

Accounting Sources

The service involves preparing and maintaining accounts on suitable periodical basis as per requirements of the clients. The books of accounts are prepared as per the US GAAP or Indian accounting standards and can also be made as per specific business requirements of the clients. As an independent corporation, We are familiar with the accounting needs and desires of high growth, Fast paced companies. We apply a significant amount of our time to learn client business, To understand how precisely we can be of aid to them. This includes the writing up of accounts and the preparation of financial statements. It encompasses a wide area ranging from simple Book keeping to complex financial analysis. Outsourcing Accounting Function has proven to be a very productive strategy for businesses all around the world. In India, with our expert Accounting Outsourcing Solutions, We are there serving several industries to face the intense finance and accounting challenges. We have a huge experience in providing Accounting Bookkeeping Services, Which is directly evident in the quality we deliver. Our emphasis lies on tight focus, Commitment and accountability, which is the reason why our list of client has grown at a faster pace year by year. We offer weekly, Bi-weekly, monthly, Quarterly or yearly Accounting and bookkeeping including reporting services.

Joint Ventures

The key to the success of any joint venture lies in the selection of a good local partner. Once a partner is selected generally a Memorandum of Understanding or a Letter of Intent is signed by the parties. In case of those joint ventures where a new corporate entity for example a company is created, The typical agreement in such a case is the shareholders’ agreement. Ideally a Shareholders’ Agreement should contain the following clauses :

The parties involved
A brief recital
Definition and Interpretation clause
The effective date of the Agreement
Capital Structure
The object, Purpose and scope of the joint venture
Management and the Board of Directors
Composition of Board of Directors
Shareholders’ Rights and Obligation
Representations and Warranties
Termination of the Agreement

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