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Exchange Control and Foreign Investments

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Service Overview

At Spiritus Legal, Advocates and Legal Consultants, we advise international companies in order to establish a presence in India by setting up a liaison office, branch office, project office, subsidiary business, joint venture firm, or export-oriented unit. We also assist with regulatory issues and filings, compliance reviews, the maintenance of statutory records and commercial documentation, and the establishment of a framework for corporate governance and operations with the necessary control mechanisms and exit options after the establishment in India.

We advise and represent clients before statutory bodies such as the Foreign Investment Promotion Board, the Secretariat for Industrial Assistance, the Ministry of Commerce & Industry, the Ministry of Finance, as well as other administrative Ministries, the Reserve Bank of India, and stock exchanges, in order to obtain necessary approvals, such as those for external commercial borrowings, equity investments, and capital market transactions.

Our team advises clients on a wide range of customs compliance issues, such as proper import classification and valuation, rules of origin, the establishment and operation of Free Trade Zones (FTZs) or Special Economic Zones (SEZ), duty entitlement and other export-import schemes, and customs issues arising under the WTO Agreement. Our team also provides tax planning for new investments and tax optimization for existing firms. In addition, Spiritus Legal assist with policy formulation, tariff reduction, and government advocacy.

At Spiritus Legal, we also serve clients with complex valuation concerns, including under-invoicing and over-invoicing, royalty payments and licencing agreements, and circumvention issues.

Service Highlights

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Advisory on FDI Regulatory compliances and/or processes - this includes an examination of the product's technical qualities, end-use and/or end-user, Customs HS Codes, and precedents in terms of former licencing applications, when available.

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Assist with the preparation, filing, and follow-up on applications and/or submissions for clarification on coverage.

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Assistance in applying for and securing export licences from the Directorate General of Foreign Trade (DGFT) and/or the relevant Ministry and Department, if needed.

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Examine business processes and transactions to identify risk areas (possible non-compliance) and provide risk-mitigation strategies.

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Development of a Standard Operating Procedure, comprising a compliance checklist, identification of a general strategy for future risk assessment, description of the decision process to be followed, and broad recommendations for supporting procedures, such as documentation and record keeping.

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Policy advice and support, as well as representation before government authorities.

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