Filing Form FC-GPR
Form FC-GPR is issued by the Reserve Bank of India (RBI) when the company receives foreign investment. Accordingly, the company will issue shares to a foreign investor on such investment. Also, it is mandatory for the company to file details of such allotment of shares using the Form FC-GPR. In this article, we look at Form FC-GPR in detail.
Conditions on Filing Form FC-GPR
Any company having Foreign Investment is required to report RBI. The following are the conditions to be considered in case of FDI.
• Foreign investment should be in compliant to Foreign Direct Investment (FDI) policy.
• Securities issued should be in accordance with the foreign exchange management.
Note: Equity shares, Convertible preference shares and convertible debentures are the only securities considered under FDI.
Due Date for filing
The company should file the Form FC-GPR to the RBI within 30 days from the date of issue of securities. Before reporting the transactions, the applicant is required to obtain the following details while filling the form.
Documents Required
The following are the list of documents to be submitted along with the form FC-GPR.
• Declaration: Declaration to be attached as other attachments as per the format given in the RBI user manual.
• CS certificate: CS certificate to be attached as other attachments as per the format given in the RBI user manual.
• Valuation certificate: Valuation certificate to be attached in the place of Valuation certificate as prescribed and applicable under FEMA 20(R). However, for the rights issue, the valuation certificate is not required. A declaration in the plain paper can be attached that the rights issue to persons or individual resident outside India is not within the range of price less than the price offered to a person resident in India.
• Relevant acknowledgement letters to be attached as other attachments for FC-TRS/FC-TRS filed for the original investment for rights or bonus issue.
• Board Resolution: Board resolution to be attached as other attachments with the relevant extracts.
• Memorandum of Association: Memorandum of Association (MOA) to be attached as other attachments with the relevant extracts if any.
• Merger/ Demerger/ Amalgamation: These to be attached at the specified attachment relevant approvals from the competent authority with the relevant extracts.
• FIRC and KYC: FIRC (Foreign Inward Remittance Certificate) and KYC to be attached in the place of the specified attachments.
Filing of Form FC-GPR
Step 1: Registration for User
• Any applicant reporting the transaction with the RBI can use the login credentials which is authorised to him/her to report the transactions.
• To register as the new business user, the applicant has to visit the official website of firms.
• Click on the registration fro new business user and fill up the details in the form.
• After filling the details, the business user needs to submit the registration form, the concerned authorised dealer bank branch will verify the same. The rejection or approval of the same would be intimated through email to the business user. Form FC-GPR is issued by the Reserve Bank of India (RBI) when the company receives the foreign investment, and against such investment the company will allot shares to a foreign investor then it is mandatory for the company to file details of such allotment of shares using the form FC-GPR.
Step 2: Log in to the firms
To login to the firms, the applicant needs to provide user name and password received via an email. After logging in to the FIRMS will lead to reaching out of your workplace.
Step 3: Log in to the Single Master Form (SMF)
• After completion of registration as a new user, you will be able to login into the firms and SMF and reach your workspace.
• Click on the navigation button and select Single Master Form (SMF).
Filing Form FC-GPR- Login details
Step 4: Choose Return type- Form FC GPR
Click on Return type to view different types of forms and select Form FC GPR in which the details like CIN, PAN number, Company name, etc. are per-filled. While some details are to be filed manually.
Filing Form FC-GPR- search returns
Step 5: Investment Details
Now, the investment details like shareholding pattern and date of issue of shares etc. are to be reported in Single Master Form (Form FC-GPR).
Filing Form FC-GPR- Investment details
Step 6: Issue Details
Details like nature of the issue, date of issue, initial FC-GRP reference number in case of subsequent filing has to be provided.
Filing Form FC-GPR- Issue details
Step 7: Foreign Investment Details
Foreign investment details such as a number of investors, address o residence constitution and nature of the investing entity.
Filing Form FC-GPR- FI details
Step 8: Amount of Issue
Fill the total amount of inflow and the total amount for which the capital instruments have been issued.
Filing Form FC-GPR- Amount of Issue
Step 9: Particulars of Issue
Now, fill the fair value of issue in rupees as per the valuation certified issued by the authorised person along with the attachment as valuation certificate.
Filing Form FC-GPR- Particulars of Issue
Step 10: Shareholding Pattern
• The value of equity shares and indirect foreign investment-value of equity shares will be displayed under the option shareholding.
• Further, pre-transaction and post-transaction values are auto-calculated based on the details provided in the form.
• Then the user is required to conform with the details provided are filled correctly, so that the shareholding pattern which is auto-calculated is correct.
Filing Form FC-CPR -Shareholding Pattern
Step 11: Submission of Form
On filling the required details, click on the save and submit button for submitting the form.