FEMA regulations applicable if book published by foreign publisher

One of my friends wants his book to be published by a foreign publisher. In case the foreign publisher agrees to publish it, it will be circulated in other countries as well as in India. He will receive his royalty in foreign currency. He wants to know whether he needs to obtain RBI approval before entering into a publishing contract with the publisher or comply with any other FEMA regulation.

 

Kindly provide your views. Thanks in advance.

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Quick Summary
This discussion addresses the FEMA regulations and potential RBI approval required when an Indian author enters into a publishing contract with a foreign publisher. The author will receive royalties in foreign currency, with the book circulated internationally and in India. Advice suggests exploring current account transactions under FEMA and consulting with an Authorised Dealer (AD) bank regarding the crediting of foreign currency receipts.

ask on lawyers club india

This query is about requirements of FEMA. Are you so sure that no CA specialises in FEMA and only lawyers can answer this? Though I know that I have not received a reply to this in last 14 days.

Current account transaction under FEMA. But It will also depends on how your agreement/ transaction is structured.

Separately, speak with your AD Banker beforehand wherein the receipts will be credited.

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