Advance authorization scheme for exports
Fema Experts
FEMA
Filing of Forms Under FEMA
Filing of Forms
Form DRR (Issue and Transfer of Depository Receipts)
This form is need to filed within 30 days from the close of issue/program.
Document to be submitted
• Declaration Letter-By authorized a representative of Indian Company
• Other Relevant Attachments if any
• Other Relevant Attachments if any
Filing of Forms
Form DI (Downstream Investment)
This form is to be filed by the Indian Company that has received FDI making downstream investment in another Indian Company. The filing should be done within 30 days from the date of allotment of Capital Instruments. Indian company making the downstream investment to file the form on RBI Firms Portal.
Document to be submitted
• Declaration Letter-By authorized a representative of Indian Company
• Other Relevant Attachments if any
• Other Relevant Attachments if any
Filing of Forms
Filing of Annual Performance Report (APR)
This service is applicable to person resident in India , Company, Firm , AOP & BOI who has made Overseas Direct Investment shall required to submit an Annual Performance Report and APR capture the change in shareholding pattern, financial position of the entity etc.
1) A person resident in India acquiring equity capital in a foreign entity which is reckoned as ODI, shall submit an APR with respect to each foreign entity every year till the person resident in India is invested in such foreign entity, by December 31st and where the accounting year of the foreign entity ends on December 31st, the APR shall be submitted by December 31st of the next year.
2) The APRs shall not be submitted in the following cases,
- (i) If a person resident in India is holding less than 10 per cent of the equity capital without control in the foreign entity and there is no other financial commitment other than by way of equity capital.
- (ii) When the foreign entity is under liquidation, from the date of initiation of the liquidation process.
- (iii) For the broken period (i.e. full year not completed) at the time of disinvestment. However, the details of transactions if any that had been undertaken during the time from the date of submission of the last APR till the date of disinvestment/initiation of liquidation process may be duly reported in the Form
3) The APR shall be based on the audited financial statements of the foreign entity. Where the person resident in India does not have ‘control’ in the foreign entity and the laws of the host jurisdiction does not provide for mandatory auditing of the books of accounts, the APR may be submitted based on unaudited financial statements certified as such by the statutory auditor of the Indian entity or by a chartered accountant where the statutory audit is not applicable including in case of resident individuals
In case more than one person resident in India have made ODI in the same foreign entity, the person resident in India holding the highest stake in the foreign entity shall be required to submit APR. In case of holdings being equal, APR may be filed jointly by such persons resident in India. It is also clarified that where APR is required to be filed jointly, either one investor may be authorized by other investors, or such persons may jointly file the APR
Document to be submitted
• This shall be communicated after having a discussion with client.
Filing of Forms
Filing of Form FC
This service is applicable to person resident in India who has made ODI or is making any financial commitment or undertaking restructuring in a foreign entity or undertaking disinvestment in a foreign entity shall be required to submit all this details with in 30 days of such transaction in different part of the Form FC.
Document to be submitted
• This shall be communicated after having a discussion with client.
Filing of Forms
Filing of FLA Returns Under FEMA
FLA Return is an annual report of foreign assets and liabilities done by Indian companies or entities that either receive foreign investment or invest in wholly owned subsidiaries or joint ventures owned by a foreign entity.
Required to file 15th July Every Year
Document to be submitted
• Company’s PAN, Authorised Person’s PAN, Authority Letter, Verification Letter, Financial Statements (Audited / Unaudited), FDI/ ODI details, Shareholding Pattern
Filing of Forms
Form 15CA/CB
This service is applicable to any person who is making a payment to Non-Residents or to a Foreign Company.Any person who is required to file declaration form of the Foreign remittance made outside India.
Service
• Consultation and guidance on the need for Form 15CA and Form 15CB.
• Analyze transaction type, understand tax residency status
• Filing of Form 15CA and / or Form 15CB.
• Check applicability of DTAA, requirement to file taxes
Document to be submitted
• Details of Sender (Remitter): Name, Address, PAN, Residential Status, Mobile and Email Id of Sender (remitter).
• Details of Recipient (Remittee): Name, Residential Status, Address and country of Recipient (Remittee).
• Country to which remittance is made.
• Currency in which remittance is made.
• Amount of Remittance in Indian Currency.
• Proposed date of Remittance.
• Nature of Remittance.
• Bank details of the Remitter (Name of bank, branch and BSR Code).
• Details of Recipient (Remittee): Name, Residential Status, Address and country of Recipient (Remittee).
• Country to which remittance is made.
• Currency in which remittance is made.
• Amount of Remittance in Indian Currency.
• Proposed date of Remittance.
• Nature of Remittance.
• Bank details of the Remitter (Name of bank, branch and BSR Code).
Filing of Forms
Form ECB (External Commercial Borrowings)
Purpose: Reporting the details of the ECB loan agreement (initial registration).
Timeline: Must be submitted within 7 days of signing the loan agreement.
Filed By: The Indian borrower.
Details Required -
• Borrower and lender details.
• Loan amount, currency, and purpose.
• Interest rate and repayment schedule.
• Loan amount, currency, and purpose.
• Interest rate and repayment schedule.
Filing of Forms
Form ECB-2: Reporting of External Commercial Borrowings
Purpose: To report external commercial borrowings (ECB) made by Indian entities.
Who Files: Indian companies or entities borrowing funds from foreign lenders under the ECB framework.
Time Frame: Must be submitted by the 7th day of the following month.
Details Required -
• Drawdowns and repayments during the month
• Outstanding ECB balance
• End-use of ECB funds.
• Outstanding ECB balance
• End-use of ECB funds.
Filing of Forms
Form ECB Return for Changes/Modifications
Purpose: To report changes or modifications in the terms of the ECB, such as:
• Change in repayment schedule or end-use.
• Change in lender or transfer of ECB.
Timeline: Within 7 days of approval from the AD bank or RBI.
Filed By: The Indian borrower.
Filing of Forms
Form ECB-3 (Conversion of ECB into equity)
Form ECB-3 is filed to report the conversion of External Commercial Borrowings (ECB) into equity shares or other eligible securities, in compliance with the Foreign Exchange Management Act (FEMA).
Purpose: To notify the RBI about the conversion of ECB into equity instruments like shares, fully convertible debentures (FCDs), or partly convertible debentures (PCDs).
Who Should File: Indian companies or eligible borrowers converting ECBs into equity.
Timeline: Must be submitted within 30 days of conversion.
Filed Through: Authorized Dealer (AD) Bank.
Details Required -
• ECB loan details (reference number, amount converted).
• Equity issued (number and type of shares, valuation).
• Borrower and lender details.
• Supporting documents (valuation certificate, board resolution, etc.).
• Equity issued (number and type of shares, valuation).
• Borrower and lender details.
• Supporting documents (valuation certificate, board resolution, etc.).