Advance authorization scheme for exports
Fema Experts
FEMA
Filing of Forms Under FEMA
Filing of Forms
Form FC – GPR (Foreign Currency-Gross Provisional Return)
This form is applicable at the time of issuance of Capital instruments of an Indian Company to a Non-Resident. The shares should be allotted within 60 days of receipt of the remittance. The FCGPR filing should be done within 30 days from the date of issuance.
Documents to be submitted
• FIRC
• KYC
• Valuation Report
• CS Certificate
• Board Resolution
• Terms of CCPS & Shareholding Pattern
• Declaration Letter-By authorized a representative of Indian Company
• Reason for the delay- If any
• Debit advice note or Swift Message- In case of Excess amount received
• KYC
• Valuation Report
• CS Certificate
• Board Resolution
• Terms of CCPS & Shareholding Pattern
• Declaration Letter-By authorized a representative of Indian Company
• Reason for the delay- If any
• Debit advice note or Swift Message- In case of Excess amount received
Filing of Forms
Form FC-TRS (Foreign Currency-Transfer of Shares)
This form is applicable at the time of transfer of existing shares from Non-Resident to Resident or vice versa. The filing should be done within 60 days from either date of remittance or date of transfer, whichever is earlier.
Document to be submitted
• FIRC
• KYC
• Valuation Report
• Buyer Consent letter
• Seller Consent letter
• FEMA Declaration & Other attachments
• Declaration by Auth Representative
• Debit Authorization letter if any
• Declaration by the non-resident transferor or transferee
• Reason for Delay- if any
• KYC
• Valuation Report
• Buyer Consent letter
• Seller Consent letter
• FEMA Declaration & Other attachments
• Declaration by Auth Representative
• Debit Authorization letter if any
• Declaration by the non-resident transferor or transferee
• Reason for Delay- if any
Filing of Forms
Form ODI - (Overseas Direct Investment)
This form is applicable at the time of transfer of existing shares from Non-Resident to Resident or vice versa. The filing should be done within 60 days from either date of remittance or date of transfer, whichever is earlier.
Purpose: Reporting financial commitment made by an Indian entity in a foreign entity.
Timeframe: Filing is required before the transaction and for annual performance reporting (APR).
Submitted By: Indian investor (company, partnership firm, or LLP).
Documents Required
• Financials of the Foreign Entity,
• Valuation Certificate
• FEMA Compliance Declaration
• Valuation Certificate
• FEMA Compliance Declaration
Filing of Forms
Form FDI – (Foreign Direct Investment)
Form FDI is used to report the details of Foreign Direct Investment (FDI) made in an Indian company by non-residents. It is an essential form under the Foreign Exchange Management Act (FEMA) and ensures compliance with RBI regulations regarding foreign investments in India.
Who Should File Form FDI
– Indian Companies: Companies that have received foreign direct investment.
– Authorized Dealer (AD) Banks: AD banks play a role in the submission and facilitation of FDI forms, but the responsibility for filing lies with the company.
Timeline for Filing
– Form FDI is to be filed within 30 days of receiving foreign investment in the company.
How to File Form FDI
– Filing Platform: The form is submitted online through the FIRMS portal (Foreign Investment Reporting and Management System), which is managed by the Reserve Bank of India (RBI).
Supporting Documents - The form must be submitted with necessary supporting documents, such as:
• The Shareholder Agreement
• Valuation Report
• FEMA dDeclaration
• Valuation Report
• FEMA dDeclaration
Filing of Forms
Form LLP-I (Reporting FDI in an LLP -Limited Liability Partnership).
This form is applicable at the time of Capital contribution into an LLP by a Non- Resident. The filing should be done within 30 days from the date of receipt of the amount of consideration.
Document to be submitted
• FIRC
• KYC
• Declaration Letter-By authorized a representative of Indian Company
• Other Relevant Attachments if any
• KYC
• Declaration Letter-By authorized a representative of Indian Company
• Other Relevant Attachments if any
Filing of Forms
Form LLP-II (Reporting disinvestment or transfer of capital contribution)
This form is applicable at the time of disinvestment of Capital contribution or transfer of ownership in an LLP from a Non-Resident to Resident or Vice versa. The filing should be done within 60 days from the date of receipt of the amount of consideration.
Document to be submitted
• FIRC
• KYC
• Declaration Letter-By authorized a representative of Indian Company
• Other Relevant Attachments if any
• KYC
• Declaration Letter-By authorized a representative of Indian Company
• Other Relevant Attachments if any
Filing of Forms
Form CN
This form is applicable at the time of issuance/transfer of Convertible Notes by Start-ups. The filing should be done within 30 days of issuance/transfer of CN.
Documents to be submitted
• FIRC
• KYC
• Declaration Letter-By authorized a representative of Indian Company
• Other Relevant Attachments if any
• KYC
• Declaration Letter-By authorized a representative of Indian Company
• Other Relevant Attachments if any
Filing of Forms
Form ESOP
This form is need to filed while the issuance of ESOPs to a Non-Resident by an Indian Company. The filing should be done within 30 days from the date of issuance of ESOPs.
Document to be submitted
• CS Certificate
• Declaration Letter-By authorized a representative of Indian Company
• Other Relevant Attachments if any
• Declaration Letter-By authorized a representative of Indian Company
• Other Relevant Attachments if any