Do you know when is FC-GPR required to be filed?

FC-GPR is Foreign Currency-Gross Provisional Return. As per the provisions of Foreign Exchange management (Transfer or issue of Securities by a Person Resident Outside India) Regulations, 2000, every Indian Company receiving Foreign Direct Investment (FDI) is required to report to Reserve Bank of India (RBI) regarding issue of Shares or Convertible Debentures to Foreign Investors in form FC-GPR. The provisions related to filing of the form FC-GPR are elaborated below.

1. Requirement to file FC-GPR

Every Indian Company which has received investment from Foreign Investor and has issued the Shares or Convertible Debentures is required to file form FC-GPR with the RBI on the RBI-FIRMS (Foreign Investment Reporting and Management System) Portal.

The Indian Company receiving Foreign Investment must comply with FDI (Foreign Direct Investment) Policy, Foreign Exchange Management Act, 1999 and the Companies act, 2013.

2. Attachments with the Form

The attachments to the form are as follows:

Declaration from the Authorised Representative regarding Compliance of Applicable Laws.
Letter of Authorisation for filing FIRMS Application.
Certificate from Company Secretary (CS) that the requirement of the applicable Laws, Government Approval have been complied with and the Company is eligible to issue shares.
KYC Documents of the Authorised Representative
Board Resolution for allotment of Shares
Form FC-TRS (Foreign Currency Transfer) signed by the investor and investee
KYC of the Foreign Investor
FIRC-Foreign Inward Remittance Certificate form AD Bank (Authorised Dealer Bank)
Valuation Certificate for valuation of the issue price of the shares.

3. Due date of Filing

The form is required to be filed within 30 days from the issue of shares. The delay in filing the form will attract Late Submission Fee.

4. How to file the form?

An entity which has received Foreign Direct Investment against issue of shares or Convertible Debentures is required to register itself on the FIRMS portal of RBI as Business User.

After successful registration, the Company is required to file Single Master Form (SMF)

5. Particulars of the Form

The following details are filled in the form:

Details of Entity
Complete details of issue like date of issue, nature of issue etc.
Investor Details
Amount and particulars of issue
Shareholding pattern post and pre issue
Others details as may be required in the form

Disclaimer:

The information provided in this content is for general informational purposes only. You should always seek the advice of an expert before making any decisions based on the information provided. We do not warrant or guarantee the accuracy, completeness, or usefulness of the information provided. Any reliance you place on such information is strictly at your own risk. We are not responsible for any damages, losses, or expenses related to the use of this content.