New UAE Citizenship Law
UAE’s New Citizenship law Policy has approved it’s Golden Visa’ Program allowing up to 10 years of residency. The United Arab Emirates has announced its new citizenship policy through which it plans to offer citizenship to a select group of foreigners. It has become the first nation in the Gulf Arab countries to formalize a process aiming at giving expatriates/ foreign […]
BRITISH EXIT FROM EU (BREXIT) 2020
British Exit from EU – The U.K. sealed a historic trade deal with the European Union, avoiding a bitter breakup and preparing the ground for a new relationship with its biggest commercial partner. Britain had formally left the EU in January 2020 (BREXIT). Since then, it has focused on negotiating new trade deals with countries around the world. What […]
Competition Commission of India & Anti Trust Laws
The Competition Commission of India (CCI) is a statutory body of the Government of India which is responsible for enforcing the Competition Act, 2002; in order to promote a competitive environment in India. It has been established by the Central Government with effect from 14th October 2003. The Competition Act, 2002 is India’s antitrust law. Antitrust laws also referred to as competition laws, are laws developed […]
General Guidelines for Imports under FEMA
What is the time limit for the settlement of import payments? Import payments should be settled down within a period of 6 months from the date of shipment. Can an extension be granted for settlement of import payments and which authority is liable to grant an extension? Yes, an extension of extra 3 years can […]
General Guidelines for Exports Services under FEMA
The full value of export of goods shall be received through an AD bank in the manner specified under foreign exchange Management (manner of receipt and payment) Regulations, 2000, and payment can be made in the form of a bank draft, pay order, banker’s or personal cheques, foreign currency notes/foreign currency travelers’ cheques or international […]
Branch Offices in India by Foreign Entities
Foreign Entities has an option for establishing a Branch Office, Liaison Office, Project Office or any other place of business in India, under FEMA Act, 1999. Permitted Activity of Branch Office in India: Companies incorporated outside India and engaged in manufacturing or trading activities are allowed to set up Branch Offices in India and undertake the following activities in India; […]
Difference between Direct Tax and Indirect Tax
A direct tax is one that the taxpayer pays directly to the government. These taxes cannot be shifted to any other person or group. An indirect tax is one that can be passed on-or shifted-to another person or group by the person or business that owes it.Taxes can be either direct or indirect. A direct […]
Investment by an Indian Resident outside India
An Indian person can make an investment in outside India, either under the Automatic Route or the Approval Route. What are the General Permissions available to persons (Individual) Resident in India for Purchase / Acquisition of Securities? General permission has been granted to persons (individual) resident in India for purchase/acquisition of securities as under: a) Out […]
Merchanting Trade Transactions under FEMA
When an Indian transactions goods from one foreign country to another foreign country it is known as Merchanting transactions. What are the conditions that are required to be fulfilled for Merchanting trade transactions? The supplier of goods will be resident in one foreign country; The buyer of goods will be resident in another foreign country; […]
Overseas Investment by Proprietorship Concerns/Registered Trust or Society
.1. How can overseas investment by proprietorship concerns be done? The proprietorship concerns and unregistered partnership firms have been allowed to set up a Joint Venture outside India with the prior approval of RBI subject to satisfying certain eligibility criteria. Investments by established proprietorship or unregistered partnership exporter firms are subject to the following criteria; […]
