FC-GPR stands for Foreign Collaboration- General Permission. It is form which is introduced by the RBI under Foreign Exchange Management Act, 1999. This form is available on the website of RBI only and is filed only for foreign investment purpose.
Every Company having foreign direct investment (FDI) is required to report Reserve Bank of India for the same. When a company receives foreign investment and allots securities against such investment to such foreign investor, then it is the duty of company to file details of such allotment of shares with RBI within 30 days from the date of allotment of securities.
WHAT IS THE TIME LIMIT FOR FILING OF FORM FC-GPR?
Within 30 days of receipt of share application money/amount of consideration from the foreign investor, the Indian company must report details of the FDI inflow to the Foreign Exchange Department, Reserve Bank of India.
WHO IS AUTHORISED TO FILE OR SIGN THE FORM FCGPR?
Any person (not necessarily a director, managing director or secretary of the company) duly authorised by the Board can digitally sign the Form using his/her DSC. It is advisable that a scanned copy of the Board resolution giving the said authority be attached in Form. This is to prevent any further user clarification from AD Bank/RBI.
Registration with RBI
Preparation of Documents
Preparation of FCGPR application
Submission of Application