Reporting Structure for FDI in India under Automatic Route

Reporting Structure

Step 1 – On the day of receipt of funds (in INR) client needs to provide Equity Declaration along with the requesting bank for FIRC and KYC report. In our case, we have received the funds from other bank in India. We will identify the bank and initiate the request letter only on receipt of the equity declaration and request letter from your company.

Step 2 – Within 30 days  of receipt of funds, client needs to submit Advance reporting form along with following documents through online reporting portal www.ebiz.gov.in

1.       Certified copy of  FIRC

2.       Copy of KYC report of the remitter.

Step 3 – FDI instruments should be issued within 180 days from receipt of Inward remittance and Within 30 days of issuance of shares FCGPR A needs to be submitted along with following documents through online reporting portal www.ebiz.gov.in

1.       A certificate from the Company Secretary of the company certifying that:

·         All the requirements of the Companies Act, 2013 have been complied with

·         Terms and conditions of the Government’s approval, if any, have been complied with

·         The company is eligible to issue shares under these Regulations

·         The company has all original certificates issued by authorized dealers in India evidencing receipt of amount of consideration in

accordance with paragraph 8 of Schedule 1 to Notification No. FEMA 20/2000-RB dated May 3, 2000

2.       A certificate from Statutory Auditor or Chartered Accountant indicating the manner of arriving at the price of the shares issued to the persons resident outside India

Step 4 – Finally FCGPR B ( Annual Returns)– Needs to be submitted every year before 15^st July