FDI Filing with RBI (FC-GPR)

The primary legislation governing FDI Filing with RBI (FC-GPR) India is the Foreign Exchange Management Act, 1999 (FEMA). The specific regulations are contained in the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 (TISPRO). These regulations prescribe the procedures, pricing guidelines, and reporting requirements for foreign direct investment into India.

The Reserve Bank of India (RBI) is the nodal authority for FDI compliance. The filing of Form FC-GPR is done through the RBI's Foreign Investment Reporting and Management System (FIRMS) portal. The official website for FIRMS is https://firms.rbi.org.in. Additionally, the Ministry of Commerce and Industry and the Department for Promotion of Industry and Internal Trade (DPIIT) oversee FDI policy.

The process for FDI Filing with RBI (FC-GPR) India involves the following steps:

1. Issue of Shares: The Indian company issues shares to a non-resident investor in compliance with pricing guidelines (as per SEBI or discounted cash flow method for unlisted companies).
2. Receipt of Funds: The foreign investor remits the consideration in foreign currency through normal banking channels.
3. Filing Form FC-GPR: Within 30 days of issue of shares, the company files Form FC-GPR on the FIRMS portal. The form requires details of the investor, number of shares, issue price, and compliance with sectoral caps.
4. Certification: The form must be certified by a Chartered Accountant (CA) or Company Secretary (CS) and a Director of the company.
5. Acknowledgment: RBI issues an acknowledgment upon successful filing. The company must retain this for future compliance.

The key forms for FDI Filing with RBI (FC-GPR) India are:

• Form FC-GPR: Filed within 30 days of issue of shares to a non-resident.
• Form FC-TRS: Filed for transfer of shares between a resident and a non-resident (or vice versa).
• Annual Return on Foreign Liabilities and Assets (FLA): Filed annually by all companies that have received FDI or made overseas investments.
• Form FC-RO: Filed for reporting of remittances for royalty, technical fees, etc. (if applicable).

Any Indian company (private limited, public limited, or LLP) that issues shares to a non-resident investor is required to file Form FC-GPR. The company must be compliant with the automatic route or government route as per FDI policy. The investor must be a person resident outside India (including NRIs, OCIs, foreign entities). The investment must be in an eligible sector and within the prescribed sectoral caps.

The timeline for FDI Filing with RBI (FC-GPR) India is as follows:

• Form FC-GPR: Must be filed within 30 days from the date of issue of shares.
• Form FC-TRS: Must be filed within 60 days from the date of transfer of shares.
• Annual FLA Return: Must be filed on or before July 15 of every year.

No specific timeline for RBI approval under the automatic route; however, government route approvals may take longer.

The fees for FDI Filing with RBI (FC-GPR) India are as prescribed by the RBI. There is no fee for filing Form FC-GPR on the FIRMS portal. However, professional fees for certification by a Chartered Accountant or Company Secretary may apply. The government-prescribed fees for other related filings are as follows:

Note: Late submission may attract a penalty as per FEMA.