Foreign currency account of sez

[arbs sarma]

Sir,

we are having two SEZ units.

Is it necessary to have foreign currency accounts for both the units seperately.

AI Summary

Maintaining Separate Foreign Currency Accounts for SEZ Units: Not Mandatory, but Offers Administrative and Economic Benefits. A query was raised regarding the necessity of maintaining separate foreign currency accounts for two Special Economic Zone (SEZ) units. Responses indicated that while it is not mandatory, having separate accounts is beneficial for administrative convenience, audits, and compliance with government requirements. Additional advantages include access to foreign currencies, potentially lower banking fees for exports/imports, and diversification of economic risks. It was also noted that the decision might depend on whether the units are located within the same SEZ or different ones.