A Company having share capital is incorporated by subscription of shares by subscribers to Memorandum of Association.
The Company can have Indian Subscribers or Foreign subscribers.
In case the Indian company has Foreign subscribers, it is termed as Foreign Direct Investment. The Indian Company is under obligation to report to Reserve Bank of India in case of any such Foreign Investment.
For such reporting, Form FC-GPR is required to be filed with RBI within 30 days from the date of issue of securities, the company shall file the Form FC-GPR with the RBI in Single Master Form.
Another instance, where company can raise money from foreign investors, is when company is making fresh allotments through the Process of Rights Issue, Private Placement etc.
Following are the documents required for filing Form FC-GPR in the above mentioned two cases
- in case of a subscription of MOA and
- in case of Further issue of shares by company by Rights Issue.
| S. No. | Subscription to MOA | Further issue of shares by Rights Issue |
| 1 | FIRC (Foreign Inward Remittance Certificate) | FIRC (Foreign Inward Remittance Certificate) |
| 2 | KYC of Foreign Investor | KYC of Foreign Investor |
| 3 | Valuation · Declaration on value of shares · MOA of the Company |
Valuation · Declaration on value of shares · Valuation Report by Registered Valuer · Altered MOA (if increase in authorized share capital also there |
| 4 | CS Certificate and other attachments · CS Certificate · Certified True Copy of Allotment of shares and issue of share certificates · Debit Authority Letter for Debiting Bank Charges · Declaration to be filed by the Authorised Representative of the Indian Company · List of allottees · Pre and post shareholding Pattern of the Company as on date of allotment of shares · Declaration with respect to Excess Fund Received, if any · Proof of Incorporation of Foreign Investor · Identity Proof of Authorised Representative of Foreign Investor |
CS Certificate and other attachments · CS Certificate · Certified True Copy of Allotment of shares and issue of share certificates · List of allottees · Pre and post shareholding Pattern of the Company as on date of allotment of shares · Declaration to be filed by the Authorised Representative of the Indian Company · Declaration with respect to Excess Fund Received, if any · Proof of earlier FC-GPR Approvals |
Thus, these are the documents which are generally required by the Authorised Dealer Banks for getting approval of Form FC-GPR. The above-mentioned list is not exhaustive in nature and thus the documents required can be more or less depending on case to case basis and requirement of AD Bank.
Leave A Comment
You must be logged in to post a comment.