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Home > Business Law > FEMA Regulations, 2000
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Offshore Banking Unit
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An Offshore Banking Unit refers to a branch of a bank in India located in the Special Economic Zone and holding an authorization issued under the Banking Regulation Act, 1949.
 
Prohibitions:
  1. An Offshore Banking Unit is not regarded as an authorized dealer for the purpose of the Foreign Exchange Management Act, 1999, its Rules or Regulations, unless so directed by the Reserve Bank.
  2. An Offshore Banking Unit shall be governed only by the Reserve Bank Regulations and no other Regulations shall apply to it.
  3. An Offshore Banking Unit shall not conduct any activity or undertake any transaction with residents in India, unless the Reserve Bank permits it.
Permissible Transactions by an Offshore Banking Unit:
An Offshore Banking Unit may undertake the following transactions:
  1. foreign exchange transactions with any authorized dealer in India only on principal-to-principal basis;
  2. foreign exchange transaction with a unit located in Special Economic Zone, subject to the specified ceilings and other conditions.
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Introduction
Categories & Status of Different Persons
Implication on Different Categories
Exemptions
Important Provisions From FEMA
FERA and FEMA- Comparision
Acquisition and Transfer of Immovable Property Outside India
Acquisition and Transfer of Immovable Property in India
Transfer or Issue of Security By A Person Resident Outside India
Establishment in India of Branch or Office or Other Place of Business
Foreign Currency Accounts By A Person Resident in India
Transfer or Issue of Any Foreign Security
Export of Goods and Services
Investment in Firm or Proprietary Concern in India
Offshore Banking Unit
Withdrawal of General Permission and Unwinding of Investments and Transactions
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