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FC-GPR (FOREIGN CURRENCY- GROSS PROVISIONAL RETURN)
@ Rs 19,999
TO WHOM IT IS APPLICABLE?
Form FC-GPR is required when equity shares / convertible preference shares / convertible debentures are issued by an Indian company made to a person resident outside India i.e. foreign investor.
DOCUMENTS REQUIRED
- Unique Identification Numberfrom RBI by reporting of Advance Foreign Remittance.
- KYC Reportfor the beneficiary if the beneficiary and remitter are different entities.
- CS Certificate
- Copy of Inward Remittance Certificate/Disclaimer Certificate issued by the bank
- Certificate from SEBI registered Merchant Banker/ CharteredAccountant valuation report
- Statutory Auditor Certificate
- Board resolution
- Allotted Loan Registration Number (LRN)
- Copy of FIPB (Foreign Investment Promotion Board) approval (if required)
- Details of Transfer of shares if any
- No Objection certificatefrom the remitter for the shares being allotted to the third party mentioning their relationship
- Letter from the foreign investorgiving the reasons for subscribing to shares on behalf of the remitter
- Copy of Agreement/Board resolutionfrom the investor company for issue and allotment of shares to the foreign investors, other than remitter.
- Reason for delayin submission (if required).
FAQs
Foreign Currency-Gross Provisional Return is the full form of FC-GPR.
You need to file the Form FC-GPR within 30 days of allotment of shares.
FC-GPR is required to be filed where the foreign investment is reckoned as an FDI i.e. only for those non-resident investors where the original investment is FDI. File form FC-GPR in SMF accordingly.
When money is being sent out of India it is called outward remittance whereas in ward remittance is when money is coming Indian accounts from outside India.
Transaction being made as foreign investments flowing inside India need Advance remittance form. RBI approval is not required if the remittance has to be refunded within seventy five days from remittance date.