What the Law Says
The Foreign Exchange Management Act, 1999 (FEMA) governs all transactions involving foreign exchange in India. Unlike its predecessor FERA, FEMA treats most violations as civil offences — but penalties are severe, and compounding is the primary resolution mechanism.
The RBI administers FEMA through detailed regulations: FEMA (Non-debt Instruments) Rules, 2019 for FDI; FEMA (Overseas Investment) Rules, 2022 for ODI; and various Master Directions covering capital account transactions, current account transactions, remittances and more. The Liberalised Remittance Scheme (LRS) permits resident individuals to remit up to USD 2,50,000 per year for permitted purposes.
What We Do
- FDI Compliance — Structuring inbound foreign investment, FCGPR and FCTRS filings, reporting under FIRMS portal, sectoral cap analysis
- ODI Advisory — Outbound investment structuring for Indian companies and individuals; Form ODI filings; overseas JV/WOS compliance
- LRS Advisory — Permitted use analysis for remittances, TCS implications, documentation for education/travel/investment remittances
- Compounding Applications — Filing and arguing compounding applications before RBI; pre-compounding strategy to minimise penalty
- FEMA Adjudication — Representation before the Adjudicating Authority and ATFE in contested FEMA proceedings
- Branch/Liaison/Project Office — Establishment approval, compliance and closure filings for foreign company offices in India
- NRI Banking & Repatriation — NRE/NRO account advisory, repatriation of Indian asset sale proceeds, inherited property repatriation
Fee Guide
Blackthorn operates on a transparent, upfront fee structure. Every engagement begins with a clear fee estimate — no surprises, no hidden charges. The ranges below are indicative; your specific matter will be quoted precisely after the initial consultation.
| Service | Indicative Fee Range |
|---|---|
| FEMA Consultation (1 hour) | ₹5,000 – ₹10,000 |
| FCGPR / FCTRS Filing | ₹10,000 – ₹25,000 |
| LRS Compliance Advisory | ₹8,000 – ₹20,000 |
| Compounding Application — Filing | ₹40,000 – ₹1,50,000 |
| Compounding — Hearing & Representation | ₹25,000 – ₹75,000 per hearing |
| ATFE Appeal | ₹50,000 – ₹2,00,000 |
| Branch/LO/PO Establishment | ₹25,000 – ₹75,000 |
| Annual FEMA Retainer | ₹40,000 – ₹1,50,000 p.a. |
* All fees are exclusive of applicable GST. Court filing fees, stamp duty and other statutory charges are billed at actuals.