The 'Panama Papers' puts the spotlight on how companies should manage the legal and regulatory issues around their foreign money Companies often need to open foreign currency accounts with banks outside India to make remittances for the purpose of business operations; mergers & acquisitions; and buying / selling real estate and financial assets abroad, among others. According to the Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015, companies can remit up to 25 per cent of their net worth to meet specified business expenses. Further, Indian companies are allowed to hold and maintain foreign currency accounts abroad to make direct investment into foreign a joint venture, or a wholly-owned subsidiary on the condition that the amount received by way of dividend or any other entitlement from the subsidiary is repatriated to India within 30 days from the date of credit. However, a company set up by an individual, under