FDI Reporting Filing

Form FC-GPR is issued by the Reserve Bank of India (RBI) when the company receives foreign investment. Accordingly, the company will issue shares to a foreign investor on such investment. Also, it is mandatory for the company to file details of such allotment of shares using the Form FC-GPR. In this article, we look at Form FC-GPR in detail.

Conditions on Filing Form FC-GPR

Any company having Foreign Investment is required to report RBI. The following are the conditions to be considered in case of FDI.

Foreign investment should be in compliant to Foreign Direct Investment (FDI) policy.
Securities issued should be in accordance with the foreign exchange management.

Note: Equity shares, Convertible preference shares and convertible debentures are the only securities considered under FDI.

Due Date for filing

The company should file the Form FC-GPR to the RBI within 30 days from the date of issue of securities. Before reporting the transactions, the applicant is required to obtain the following details while filling the form.

Unique Identification Number (UIN) from RBI is required by reporting advance foreign remittance.
KYC report of the beneficiary if the remitter and beneficiary are from different entities.
Company Secretary certificate
Certificate from the SEBI registered Character Accountant or Merchant Banker stating the method of arriving at the price of the shares allotted to the individual or person residing outside India.
Disclaimer certificate
Statutory Auditor Certificate
Format of Board resolution
Allocated Loan Registration Number (LRN)
Certified copy of Foreign Investment Promotion Board (FIPB), if any
Details of transfer of shares, if required
No Objection Certificate (NOC) from the remitter for the shares which is being allotted to the third party mentioning their relationship.
Copy of the letter from the foreign investor indicating the reasons for making a subscription to shares by the remitter on his behalf.
Copy of board resolution or agreement from the investor company for issue and allotment of shares to the foreign investors, other than remitter.
Reason for any delay in submission (if any)