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A way to record overseas investment to RBI through authorized dealer

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A way to record overseas investment to RBI through authorized dealer

Each Indian organisation who gets FDI (foreign Direct investment) needs to record such FDI inflow to order bank of India. therefore that is my try and clarify the technique concerning document of FDI to RBI.

Inward Remittance and obtain FIRC.

1.Receiptof overseas foreign money via VOSTRO ACCOUNT in company financial institution account (In USD) from overseas investor.

observe:Its rely upon the financial institution to financial institution what manner they will adopt to credit score respective amount on organisation account.

2. Upon receipt of amount, financial institution could ask for purpose of Remittance, Kindly inform the purpose to financial institution ‘in the direction of proportion CAPITAL.’ institution wills trouble FIRC, check the motive and quantity at the FIRC.

recognize Your client (KYC) process:

1. Request the investors to attain KYC from their bankers in the connected format and ship it to Indian bank.

2. based in this distant places bank KYC, the employer’s bank will trouble KYC for the overseas investor.

Reporting of Inward Remittance to RBI :

1. inside 30 days from the receipt of Inward remittance, The agency has to tell RBI thru corporation’s bank (ad category I bank) through submitting Annex 6 along side replica of KYC & FIRC / Debit certificate.

2. The agency’s banker (ad category I bank) will certify Annex 6 after due verification and ahead it to RBI

3. Upon receipt of intimation in Annex 6, RBI will allot and talk the specific identity number (UIN) for every such inward remittance or FCNR / NRE / NRO account debit.

Allotment of shares & filing of FC-GPR :

1. inside one hundred eighty days from the receipt of the cash from foreign places or, the employer has to allot stocks to the distant places traders (proportion price should be more than the fee as arrived under Discounted cash go with the flow technique)

2. If any excess fund remains after allotment, the unallotted sum need to be remitted returned to the distant places investor inside one hundred eighty days from the date of receipt.

three. put together form FC-GPR (Refer Annex eight of master circular on overseas investment in India 2013 for layout of FC-GPR as amended once in a while)

four. Get a SEBI registered service provider Banker / Chartered Accountant certificates for the proportion valuation (indicating the manner of arriving at the charge of the shares issued to the humans resident outdoor India)

five. Get a agency Secretary certificates for the compliance within the layout distinctive in the form FC-GPR

6. report form FC-GPR with RBI thru corporation’s bank (advert category I financial institution) inside 30 days from the date of allotment.

7. Attachments required tofile with shape FC-GPR,

a. record gain from Chartered Accountant which includes certificate.

b. agency Secretary certificates

c. UIN reproduction of all inward remittances for which stocks are allotted. If UIN is implemented for and but to be obtained from RBI, connect reproduction of the UIN utility filed with RBI thru ad category I bank

d. replica of FIRC’s obtained for all inward remittances for which stocks are allocated

e. reproduction of PAS-three filed with ROC as a evidence of allotment

f. The company’s banker (advert class I bank) will certify form FC-GPR after due verification and forward it to RBI

eight. RBI after due verification of FC-GPR will allot a FC-GPR registration wide variety and communicate to the corporation.

This FC-GPR registration range is very last approval of RBI for the foreign investment. For any destiny repatriation of proportion sale proceeds, the FC-GPR registration wide variety to be quoted.

IMP note: Please word that every one the Compliance related to RBI is now thru digital mode simplest. Create your account of E-Biz, Fill the form and ship difficult replica to ad, after confirm the shape, advert will forwarded to RBI.

as soon as the shape forwarded to RBI, RBI will deliver utility number for all destiny correspondence or to tune the status of transaction.

document Annual go back on foreign Liabilities and assets (FLA) – Required to be submitted by using all of the India resident groups which have obtained FDI and/ or made overseas investment in any of the previous year(s), which include present day 12 months through July 15 every yr.

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