FEMA & FDI Advisory in IIT Madras, Chennai
Last updated: 15 Oct 2026
Quick Answer: Virtual Auditor advises companies and individuals in IIT Madras, Chennai on foreign investment into and out of India under FEMA, from our head office at Spencer Plaza, Anna Salai: entry route and pricing, RBI reporting on the FIRMS portal, the annual FLA return, overseas investment and compounding of past defaults.
IIT Madras: the local picture for FEMA & FDI Advisory
IIT Madras lies in Chennai district, Tamil Nadu. Its business mix is typical of an area built around public institutions and campuses. Nearby areas we also serve include Taramani, Anna University, Raj Bhavan and Guindy. We serve clients in IIT Madras from our head office at Spencer Plaza, Anna Salai. Not-for-profit entities here receiving foreign money also need FCRA registration, which is separate from FEMA; we advise on the boundary. FEMA reports are filed on the RBI's FIRMS portal through your authorised dealer bank; compounding applications go to the RBI regional office, Chennai.
What is FEMA compliance?
The Foreign Exchange Management Act, 1999 (FEMA) and its rules govern every cross-border investment and remittance. Most foreign investment needs no prior approval, but each step must be priced correctly and reported to the RBI within fixed time limits.
What has to be reported to the RBI?
Reports are filed on the RBI's FIRMS portal through the company's authorised dealer bank: FC-GPR for fresh issues, FC-TRS for transfers between residents and non-residents, DI for downstream investment, and forms for convertible notes and LLP investments. Every company with foreign investment files the annual return on Foreign Liabilities and Assets (FLA) by 15 July.
What about overseas investment and past defaults?
Investments abroad by Indian companies and residents follow the Foreign Exchange Management (Overseas Investment) Rules and Regulations, 2022, with annual performance reports for overseas entities. Resident individuals can remit up to US$250,000 a financial year under the Liberalised Remittance Scheme.
Late filings attract a late-submission fee; other contraventions can be compounded by the RBI under the Foreign Exchange (Compounding Proceedings) Rules, 2024, which we prepare and file.
Full details of FEMA compliance, including the law, the process and our method: https://virtualauditor.in/fema-compliance
What you get from Virtual Auditor in IIT Madras
- FIRMS filings (FC-GPR, FC-TRS, DI, LLP forms)
- Annual FLA return
- ODI filings and compounding applications
Documents to keep ready
- Valuation certificate
- Investor's constitutional documents
- Share-allotment or transfer documents
Indicative Fee Structure
| Service | Fee |
|---|---|
| FEMA / FDI advisory | From ₹15,000 |
| Consultation | Complimentary 30 minutes |
*Prices are indicative and exclude government fees and taxes. Actual fees depend on scope and complexity; contact us for a fixed quote.
Frequently Asked Questions
What is the time limit for FC-GPR?
Thirty days from the date shares are allotted to the non-resident; the shares themselves must be allotted within 60 days of receiving the money.
Who must file the FLA return?
Every Indian company or LLP that has received foreign direct investment or made overseas investment, by 15 July each year.
Which offices deal with FEMA compliance for a business in IIT Madras?
FEMA reports are filed on the RBI's FIRMS portal through your authorised dealer bank; compounding applications go to the RBI regional office, Chennai.
Do you also handle FEMA compliance for businesses near IIT Madras?
Yes. We also work with businesses in Taramani, Anna University, Raj Bhavan, Guindy and Tiruvanmiyur and elsewhere in Chennai, on the same terms and online.
Do I need to visit your office from IIT Madras?
No. We serve IIT Madras from our head office at Spencer Plaza, Anna Salai. Documents are shared securely online, filings are signed with a digital signature, and meetings are by video or at our office by appointment. Call +91 99622 60333 or email support@virtualauditor.in.