{"id":364309,"date":"2025-10-18T11:00:22","date_gmt":"2025-10-18T05:30:22","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=364309"},"modified":"2025-10-18T10:27:10","modified_gmt":"2025-10-18T04:57:10","slug":"fema-foreign-currency-accounts-regulations-2025-update","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2025\/10\/18\/fema-foreign-currency-accounts-regulations-2025-update\/","title":{"rendered":"Opening Foreign Currency Accounts Made Easier: RBI Notifies Seventh FEMA Amendment (2025)"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"margin-bottom: 3%;\">On 6-10-2025, the Reserve Bank of India (&#8216;<span style=\"font-weight: bold;\">RBI<\/span>&#8217;) notified the <span style=\"font-weight: bold;\">Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Seventh Amendment) Regulations, 2025<\/span>.<\/p>\n<h3>Key takeaways:<\/h3>\n<ul style=\"list-style-type: disc;\">\n<li>\n<p>This amendment introduces key changes to the principal regulations <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0002848811\" target=\"_blank\">Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015<\/a>.<\/p>\n<\/li>\n<li>\n<p>A new definition for <span style=\"font-weight: bold;\">International Financial Services Centre<\/span> (&#8216;IFSC&#8217;) is included, aligning it with the meaning provided under the IFSC Authority Act, 2019. This inclusion formally recognizes IFSCs within the framework of foreign currency account regulations.<\/p>\n<\/li>\n<li>\n<p>A major revision is made to Regulation 5(CA), which now permits a <span style=\"font-weight: bold;\">person resident in India<\/span>, specifically an exporter, to open, hold, and maintain a &#8216;<span style=\"font-weight: bold;\">foreign currency account<\/span>&#8217; with a bank outside India, including those located in an IFSC.<\/p>\n<\/li>\n<li>\n<p>These accounts can be used for receiving full export value and advance remittances related to the export of goods or services.<\/p>\n<\/li>\n<li>\n<p>The funds in such accounts can be utilized for import payments or can be repatriated to India within specified timelines, within three months for accounts held in IFSCs and by the next month for accounts in other jurisdictions, after adjusting for forward commitments.<\/p>\n<\/li>\n<li>\n<p>These provisions are subject to compliance with the <a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0002848810\" target=\"_blank\">Foreign Exchange Management (Export of Goods and Services) Regulations, 2015<\/a>.<\/p>\n<\/li>\n<li>\n<p>Additionally, the amendment clarifies that foreign currency accounts permitted to be opened &#8220;<span style=\"font-weight: bold;\">outside India\/abroad<\/span>&#8221; include those in IFSCs.<\/p>\n<\/li>\n<li>\n<p style=\"margin-bottom: 3%;\">This update strengthens the role of <span style=\"font-weight: bold;\">IFSCs<\/span> as legitimate offshore banking hubs and enhances operational flexibility for Indian exporters in managing foreign exchange transactions.<\/p>\n<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p style=\"font-style: italic;\">RBI allows exporters to open foreign currency accounts in IFSCs under FEMA 2025 amendment, effective immediately.<\/p>\n","protected":false},"author":67525,"featured_media":323058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14,4],"tags":[91089,91086,54867,33491,91088,34031,34030,91090,38410,91091,39219,91087,2611,2732,48227],"class_list":["post-364309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","category-legislationupdates","tag-export-finance","tag-export-of-goods-and-services","tag-exporters","tag-fema","tag-fema-update","tag-foreign-currency-accounts","tag-foreign-exchange-management","tag-forex-compliance","tag-ifsc","tag-indian-exporter","tag-international-financial-services-centre","tag-offshore-banking","tag-RBI","tag-Reserve_Bank_of_India","tag-residents"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - 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Indulia","date":"February 28, 2019","format":false,"excerpt":"G.S.R. 160(E)\u2014In exercise of the powers conferred by Section 9 and clause (e) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendments to the Foreign Exchange Management (Foreign Currency Accounts by a person resident\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":310402,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/12\/30\/rbi-notified-foreign-exchange-management-manner-of-receipt-and-payment-regulations-2023-legal-news\/","url_meta":{"origin":364309,"position":4},"title":"RBI notifies FEM (Manner of Receipt and Payment) Regulations, 2023 mandating permission from RBI for Trade outside India","author":"Kriti","date":"December 30, 2023","format":false,"excerpt":"On 21-12-2023, the Reserve Bank of India (\u2018RBI\u2019) notified the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023 mandating permission of RBI to make or receive payments from a person residing outside India. 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Key Points: These Regulations will be governed by\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"rbi","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/reserve-bank-of-india.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/reserve-bank-of-india.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/reserve-bank-of-india.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/reserve-bank-of-india.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":226647,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/06\/rbi-notifies-foreign-exchange-management-foreign-exchange-derivative-contracts-first-amendment-regulations-2020\/","url_meta":{"origin":364309,"position":5},"title":"RBI Notifies &#8212; Foreign Exchange Management (Foreign Exchange Derivative Contracts) (First Amendment) Regulations, 2020","author":"Bhumika Indulia","date":"March 6, 2020","format":false,"excerpt":"The Foreign Exchange Management (Foreign Exchange Derivative Contracts) (First Amendment) Regulations, 2020. Reserve Bank of India notifies Foreign Exchange Management (Foreign Exchange Derivative Contracts) (First Amendment) Regulations, 2020. 2. Amendments i. 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