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FDI Reporting to RBI using Form FC-GPR
India economy is making change in world. With Make in India initiative and global opportunities Foreign Investment in India is increasing. In Private Limited companies investment upto 100% is allowed under certain categories. From Foreign countries investment comes to Indian companies in various modes. Form FC-GPR is introduced to inform RBI about foreign funds received in India. This is towards issuing shares of Indian company to a Foreign resident. Any Money come to India as FDI from any channel need to inform in FCGPR to RBI. In This Article we explained about how to file FCGRP , Penalty , Due Date , List of documents.
Which are Investment securities mode covered under FDI ?
- Equity Shares
- Convertible Preference Shares
- Convertible Debentures
Content of FDI Reporting to RBI using Form FC-GPR
- PAN Number of Investee Company
- Address of Investee Company
- NIC Code of Main Activity of Business
- Percentage of FDI allowed as per FDI policy
- Details of Foreign Investor ( Name , Address, Constitution / Nature of the investing Entity )
- Particulars of Shares / Convertible Debentures /others Issued
- Type of security issued ( Equity , Compulsorily Convertible Debentures , Compulsorily Convertible Preference shares)
Due Date For Filing Form FC-GPR
Due Date for Filing Form FC-GPR goes in three stages. Below explained
| Stage 1 | File Advance Remittance Form (ARF) within 30 day of receipt of share application funds |
| Stage
2 & 3 |
within 180 days of receipt share allotment need to be completed |
| Within 30 day of allotment file FCGPR |
List of Documents for FCGPR
Form online portal FCGPR filing need to be done. Following are important attachments for filing.
- Certificate of Company Secretory
- Share Valuation Report
- Copy of Board Resolution
- Banking KYC Documents
- Copy of Foreign Inward Remittance Certificate ( FIRC )
- Letter for Reason for delaying in filing FCGPR if any
How to File Form FC-GPR
RBI issued A.P. (DIR Series) Circular No. 40 dated 01.02.2016 for online filing of Form FCGPR. New E Biz Portal is developed for filing. Form 08.02.2016 RBI removed procedure for manual filing. With introduction of this Circular Online Filing of Form FC-GPR is mandatory.
Penalty For Non Filing of Form FC-GPR
Company who received foreign funds need to do reporting by filing Form FC-GPR. Within 30day of issue of shared report need to be done. For Non Filing of Form FC-GPR calls for penalty as below
- Penalty minimum Rs. 5000/- or
- 1 % of Total Amount of Investment ( Max Rs. 5 Lac )
- or part thereof for the first six months of delay and twice that rate thereafter, to be paid online into a designated account in RBI
What is Green Field ?
Green Field is when a Foreign parent company begins a new venture by constructing new facilities in India. New Production Capacity.
What is Brown Field ?
It is when a company purchases an existing facility to begin new production. Foreign company invest in Existing production arrangements.
