FEMA & FDI · Panaji, Goa
Clear FEMA advisory for NRIs in Goa — the right bank accounts, compliant investment in shares, funds and property, and repatriation within prescribed limits — so non-resident Indians manage their India finances without falling foul of the law.
Overview
The Foreign Exchange Management Act governs how a non-resident Indian banks, invests and remits money in India. It decides which accounts an NRI may hold, what they can invest in, which property they can buy, and how much they can take out of the country.
NRIs can hold NRE, NRO and FCNR accounts, invest in shares and mutual funds, and buy residential or commercial property — but not agricultural land, a farmhouse or plantation property. We advise on the compliant structure, the repatriation route and the related tax, and coordinate any FEMA reporting.
What's covered
Accounts, investment, property and repatriation.
Get a fixed-fee quote →Choosing between NRE, NRO and FCNR accounts for your needs.
Compliant routes for shares, mutual funds and other instruments.
What an NRI can and cannot buy, and the funding route.
Remitting funds within the prescribed annual limits.
TDS and tax position on income credited to NRO accounts.
Aligning your India income reporting and FEMA position.
Our process
Residential status and the transactions you have in mind.
We set out the compliant accounts, routes and limits.
Accounts, investment or property set up correctly.
Repatriation and reporting handled when needed.
Frequently asked questions
FEMA governs a non-resident Indian's banking, investment, property and remittance transactions in India. It determines which accounts an NRI may operate, what they may invest in, the immovable property they may acquire, and the limits and routes for repatriating funds abroad.
An NRE account holds foreign earnings converted to rupees and is freely repatriable. An NRO account is mainly for income earned in India, such as rent or dividends, with repatriation subject to limits. An FCNR account is a term deposit held in foreign currency.
An NRI can generally buy residential and commercial property in India and can fund it through normal banking channels or NRE or NRO accounts. An NRI cannot, however, purchase agricultural land, a farmhouse or plantation property, though such property may be inherited.
Funds in an NRE account are freely repatriable. From an NRO account, an NRI can generally repatriate up to one million US dollars per financial year, subject to applicable taxes and documentation, including a chartered accountant's certificate.
Yes. NRIs can invest in Indian shares and mutual funds through prescribed routes, such as the portfolio investment scheme for listed shares or on a non-repatriation basis, subject to the conditions and limits laid down under FEMA.
Income that arises or is received in India is generally taxable in India, often with tax deducted at source on payments to NRIs. The exact treatment depends on the income type and any applicable double-taxation treaty, which we help you apply correctly.
An NRI with taxable income in India is generally required to file an income tax return in India, and to ensure that their banking and investment transactions are routed through the correct accounts so they remain compliant under both tax law and FEMA.
Related services
Book a free consultation with a qualified Chartered Accountant in Goa. We'll guide your accounts, investments and repatriation so they are fully FEMA-compliant — no obligation.