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of <h1>Regulatory Relaxations: Indian Startups Can Open Foreign Currency Accounts Abroad Under FEMA 2015 Amendments.</h1> The circular addresses regulatory relaxations for startups under the Foreign Exchange Management Regulations, 2015. Indian startups with overseas subsidiaries can open foreign currency accounts outside India to credit foreign exchange earnings from exports or sales. These balances must be repatriated to India within the prescribed period. Foreign exchange payments received from sales or exports can be credited to the startup's EEFC account in India. The definition of a startup follows specific government criteria. Additionally, insurance companies registered with IRDA can now open foreign currency accounts abroad. The Reserve Bank has amended the relevant regulations accordingly.
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