FCGPR

Intimation to RBI for Allotment of shares

Avoid non-compliance and penalty

₹ 8,999 + Actual govt fees
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KEY HIGHLIGHTS

PURPOSE OF FILING -FORM FC-GPR

PURPOSE OF FILING -FORM FC-GPR.

In Form FC-GPR, the transaction being reported is for issue of capital instruments by an Indian Company to a person resident outside India i.e., allotment of Equity shares/Compulsorily Convertible Preference Shares/Compulsorily Convertible Debentures, whether at the time of incorporation or post incorporation of the Company.

PURPOSE OF FILING -FORM FC-GPR

WHEN YOU NEED TO FILE.

When the company receives the foreign investment and against such investment the company allots shares to such foreign investor then it is the duty of the company to file details of such allotment of shares with The RBI within 30 days and for that company has to use the form FC-GPR (Foreign Currency- Gross Provisional Return) for submitting details with RBI.

PURPOSE OF FILING -FORM FC-GPR

PROVISION.

1. The Foreign Investment is subject to Consolidated FDI Policy (relating to sectoral caps and whether entry is through automatic or approval route, pricing guidelines etc. and;
2. The securities issued are in accordance with the provisions of Foreign Exchange Management Act, 1999, Companies Act, 2013 and SEBI Regulations and other applicable laws and rules made thereunder.

WHAT IF FC-GPR IS NOT FILED WITHIN 30 DAYS.

In case of delay beyond the prescribed time period shall be liable to penalty of 1% of the total amount of investment subject minimum of Rs. 5,000 and Maximum of Rs/. 5,00,000 per month or part for 1st six months of delay and twice that rate thereafter, to be paid online into a designated account in RBI.

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WHAT IS FC-GPR?

FC-GPR stands for Foreign Currency Gross Provisional Return. It is form which is introduced by the RBI under Foreign Exchange Management Act, 1999. As announced in the First Bi-monthly Monetary Policy Review dated April 5, 2018 announced that, with the objective of integrating the extant reporting structures of various types of foreign investment in India, it will introduce a Single Master Form (SMF) subsuming all the existing reports. The filing of SMF would be online.

WHY Form FC-GPR is filed?

Every Company having foreign direct investment (FDI) is required to report Reserve Bank of India for the same. When a company receives foreign investment and allots securities against such investment to such foreign investor, then it is the duty of company to file details of such allotment of shares with RBI within 30 days from the date of allotment of securities.

WHAT IS THE TIME LIMIT FOR FILING OF FORM FC-GPR?

The company should file the Form FC-GPR to the RBI within 30 days from the date of issue of securities.

WHO IS AUTHORIZED TO FILE OR SIGN THE FORM FC-GPR?

Any person (not necessarily a director, managing director or secretary of the company) duly authorized by the Board can digitally sign the Form using his/her DSC. It is advisable that a scanned copy of the Board resolution giving the said authority be attached in Form. This is to prevent any further user clarification from AD Bank/RBI.

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Our Packages

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Advance Reporting Filing of FC-GPR Advance Reporting & FC_GPR
FIRC Approval
₹8,999+GST
Preparation and filling of FC-GPR
₹14,999+GST
FIRC approval and filing of FC-GPR
₹21,999+GST
Preparation of Documents Is Included Preparation of Documents Is Included Preparation of Documents Is Included
FIRC Approval form AD Bank Is Included FIRC Approval form AD Bank Is excluded FIRC Approval form AD Bank Is Included
Fill the Form FC-GPR Is excluded Fill the Form FC-GPR Is Included Fill the Form FC-GPR Is Included
Submission of the form Is excluded Submission of the form Is Included Submission of the form Is Included

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Documents Required For FCGPR

Proprietor
One Person Company
Private Limited
  • Unique Identification Number from RBI by reporting of Advance Foreign Remittance
  • Unique Identification Number from RBI by reporting of Advance Foreign Remittance
  • Board Resolution
  • KYC Report for the beneficiary if the beneficiary and remitter are different entities.
  • CS Certificate.
  • Certificate from SEBI registered Merchant Banker/ Chartered Accountant indicating the manner of arriving at the price of the shares issued to the persons resident outside India.
  • Disclaimer Certificate.
  • Statutory Auditor Certificate
  • LRN(Loan Registration Number) allotted. Copy of FIPB approval (if required).
  • Details of Transfer of shares if any.
  • No Objection certificate from the remitter for the shares being allotted to the third party mentioning their relationship.
  • Letter from the foreign investor explaining the reasons for making subscription to shares by the remitter on his behalf.
  • Copy of Agreement/Board resolution from the investor company for issue and allotment of shares to the foreign investors, other than remitter
  • Reason for delay in submission(if required.)
Public Limited
  • Unique Identification Number from RBI by reporting of Advance Foreign Remittance
  • KYC Report for the beneficiary if the beneficiary and remitter are different entities.
  • CS Certificate.
  • Certificate from SEBI registered Merchant Banker/ Chartered Accountant indicating the manner of arriving at the price of the shares issued to the persons resident outside India.
  • Disclaimer Certificate.
  • Statutory Auditor Certificate.
  • Board resolution.
  • LRN(Loan Registration Number) allotted. Copy of FIPB approval (if required).
  • Details of Transfer of shares if any.
  • No Objection certificate from the remitter for the shares being allotted to the third party mentioning their relationship.
  • Letter from the foreign investor explaining the reasons for making subscription to shares by the remitter on his behalf.
  • Copy of Agreement/Board resolution from the investor company for issue and allotment of shares to the foreign investors, other than remitter.
  • Reason for delay in submission(if required.)
Partnership Firm
LLP
NGO

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Please Choose From Below Packages
Advance Reporting Filing of FC-GPR Advance Reporting & FC_GPR
₹8,999+GST
₹14,999+GST
₹21,999+GST
Preparation of Documents Is Included Preparation of Documents Is Included Preparation of Documents Is Included
FIRC Approval form AD Bank Is Included FIRC Approval form AD Bank Is excluded FIRC Approval form AD Bank Is Included
Fill the Form FC-GPR Is excluded Fill the Form FC-GPR Is Included Fill the Form FC-GPR Is Included
Submission of the form Is excluded Submission of the form Is Included Submission of the form Is Included

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Frequently asked questions

Legally FC-GPR stands for Foreign Currency Gross Provisional Return and FC-TRS stands for Foreign Currency- Transfer of Shares. Non submission of FC-GPR is a non compliance and RBI may impose penalty thereon. It depends on a case to case basis.

Advance Remittance Form for Investment in Company. Advance remittance form is used in transactions for foreign investment that comes into India in various forms. In effect, the remittance can be refunded within 75 days from the date of remittance without any approval from RBI.

Within 30 days from the date of issue of shares, form FC-GPR must be filed with the RBI along with the complete documents.

An Entity User is a person authorized by the entity (company/ LLP/startup) to register an entity in the Entity Master of FIRMS application. One person can also be an entity user for more than one entity.

A remittance is the funds an expatriate sends to his or her country of origin via wire, mail, or online transfer. These peer-to-peer transfers of funds across borders are economically significant for many of the countries that receive them.

Inward Remittance simply means funds received into your bank account. This could be either from another account within India or from an account abroad. Outward remittances is money that you are sending out of India. Inward Remittance is money from overseas which is getting credited to your INR Account.

Authorised Dealer Category -I Banks (AD Category–I Banks) is one of the three types of Authorised Money Changers (AMCs) approved by the RBI under Section 10 of the Foreign Exchange Management (FEMA) Act, 1999. An AMC is a Full Fledged Money Changer (FFMC) permitted to deal in foreign exchange for specified purposes

For filing in SMF, one has to register as a Business User, which is separate from Entity User.

At the time of Entity User: The authorisation letter as per the Entity Master User Manual. (https://firms.rbi.org.in/firms/) and PAN Card of the Entity User. At the time of Business User: The authorisation letter as per the Firms User Manual (https://firms.rbi.org.in/firms/) and PAN Card of the Business User.

To modify the existing details on Entity Master, a request must be made by sending an e-mail to fedsupport@rbi.org.in and helpfirms@rbi.org.in by attaching a scan copy of the request letter from an authorised representative of the Company.

Investment by a person resident outside India is prohibited in the following sectors:
Lottery Business including Government/ private lottery, online lotteries.
Gambling and betting including casinos and Chit funds (except for investment made by NRIs and OCIs on a non-repatriation basis).
Nidhi company.
Trading in Transferable Development Rights (TDRs).
Real Estate Business or Construction of Farm Houses.
Manufacturing of Cigars, cheroots, cigarillos and cigarettes, of tobacco or of tobacco substitutes including wholesale cash and carry, retail trading etc. will be governed by the sectoral restrictions laid down in Regulation 16 of FEMA.
Sectors do not open to private sector investment i.e., atomic energy and Railway operations.
Foreign technology collaboration in any form including licensing for franchise, trademark, brand name, management contract is also prohibited for Lottery Business and Gambling and Betting activities.

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