Before we facilitate a foreign entity, foreign banking introduction, or cross-border payment-processing setup for an Indian-resident client, we complete a light compliance-onboarding step. This protects both parties, satisfies our internal controls, and gives you a documented paper trail if any regulator later asks.

Why we do this

Praxxii Global is not a bank, licensed money-services business, tax adviser or law firm. But when we help you register a US LLC, a UAE free-zone company, a Stripe account, or a Wise / Payoneer / bank account in a foreign jurisdiction, the following regimes may apply to you as an Indian resident:

  • Foreign Exchange Management Act, 1999 (FEMA) and the RBI Overseas Investment (OI) Rules & Regulations, 2022 — governing when an Indian resident may make an Overseas Direct Investment (ODI) or Overseas Portfolio Investment (OPI).
  • Liberalised Remittance Scheme (LRS) — the annual USD 250,000 per-resident cap on permissible remittances (subject to purpose codes and TCS).
  • Prevention of Money-Laundering Act, 2002 (PMLA) and Indian AML guidelines — source-of-funds transparency for cross-border movements.
  • Income-tax Act, 1961 — reporting of foreign assets (Schedule FA), foreign income, and beneficial ownership of overseas entities.
  • The destination jurisdiction's KYC / AML / beneficial-ownership rules — banks, payment processors and registered agents in the US, UK, UAE and elsewhere run their own onboarding checks and can decline.

What we'll ask you to provide

The exact list depends on the service you've engaged us for. In general, expect some subset of:

  • PAN card and Aadhaar (masked) or passport (identity proof)
  • Recent utility bill or bank statement (address proof, dated within 3 months)
  • A short, written declaration of the intended purpose of any foreign entity (business, holding, investment) and the intended funding source
  • For an Indian company or LLP acting as parent: CIN / LLPIN, latest MoA & AoA or LLP Agreement, and a Board / Partners' resolution authorising the overseas activity
  • A FEMA / LRS declaration stating the resident's LRS utilisation for the current financial year and confirming the intended remittance purpose code (e.g., S0001 Overseas Investment, S1301 Payment for imports, etc.)
  • Beneficial-ownership disclosure of anyone who ultimately controls 25% or more of the client entity
  • Sanctions / PEP / adverse-media self-declaration — a short form asking whether you or any beneficial owner is on a sanctions list, is a Politically Exposed Person, or has adverse media exposure that we should know about

Our red lines

We will not proceed with an engagement in any of the following circumstances:

  • The client, any beneficial owner, or a proposed counterparty appears on the OFAC SDN list, the UN Consolidated Sanctions List, the EU consolidated sanctions list, or an equivalent Indian designation.
  • The intended structure appears designed principally to evade Indian tax, FEMA reporting, or the LRS cap.
  • The client refuses to provide reasonable KYC documentation or the documentation provided is inconsistent, tampered with, or otherwise not credible.
  • The intended jurisdiction is subject to a blanket FEMA/RBI restriction (e.g., ODI into certain jurisdictions requires prior approval).
  • The intended business is prohibited in the destination jurisdiction (regulated gambling, restricted crypto activities, adult content in some jurisdictions, etc.) and the client does not hold the requisite licence.

What we are, and are not

Praxxii Global is a marketing and business-services agency. We are not a law firm, chartered accountancy practice, tax advisory, immigration consultancy, or a licensed financial or money-services business. Nothing on this page or on this site is legal, tax, financial, or investment advice. For any of those, we introduce you to (or work alongside) a licensed local partner in the relevant jurisdiction. Their advice is their own; their fees are their own; and their eligibility, approval and KYC/AML decisions are theirs to make.

How this fits our engagement

Compliance onboarding runs in parallel with the discovery phase of your engagement. Nothing is filed, sent, or committed on your behalf until the onboarding checklist is complete and the Engagement Contract is signed. If a red-flag emerges during onboarding, we'll tell you and, where reasonable, offer to refund advance fees per our Refund & Cancellation Policy.

Records & retention

Documents you submit for onboarding are stored in an access-controlled repository (Vercel Blob, private access) and retained for the duration of the engagement plus the applicable retention period required by law (typically five to eight years under Indian record-keeping norms). See our Privacy Policy for full details.

Questions

If you have questions about onboarding before you engage us, contact our Grievance Officer at info@praxxiiglobal.com or via /grievance.

Disclaimer. This page describes an operational onboarding process and is not legal, tax or financial advice. Rules under FEMA, the OI Rules 2022, LRS, PMLA and the Income-tax Act change from time to time. Consult a qualified Indian chartered accountant and/or lawyer for advice specific to your circumstances before structuring any cross-border activity.