FCGPR

Introduction

Foreign Currency Gross Provisional Receipt – Compliant Foreign Investment Reporting

When an Indian company receives foreign direct investment (FDI) by issue of shares to a foreign investor, it is mandatory to report the receipt of foreign currency and allotment of shares to the Reserve Bank of India (RBI) through the Foreign Currency Gross Provisional Receipt (FC-GPR) filing.

Legal & Regulatory Framework

FCGPR

Regulator

Reserve Bank of India (RBI) under the Foreign Exchange Management Act (FEMA), 1999

Reference

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 (FEMA FDI Regulations)

Purpose

To report receipt of foreign currency and allotment of equity shares to foreign investors

Documents Required for FC-GPR Filing

  • Board resolution approving share allotment
  • Share certificates issued to foreign investors
  • Bank certificate confirming inward remittance of funds
  • Valuation certificate (if shares are issued at a premium)
  • Copy of FIRC (Foreign Inward Remittance Certificate)
  • KYC documents of foreign investor
  • Copy of Memorandum and Articles of Association (if required)

 

  • Whenever an Indian company receives foreign investment by way of equity shares or compulsorily convertible preference shares or compulsorily convertible debentures
  • Reporting is mandatory within 30 days from the date of allotment of shares to the foreign investor
  • Applicable to new FDI inflows or fresh issuance of shares to foreign investors

Step 1: Receive Foreign Investment

Foreign investor remits investment in Indian company’s bank account in foreign currency or INR through normal banking channels

Step 2: Allot Shares to Foreign Investor

Issue equity shares or convertible instruments as per FDI guidelines

Step 3: Prepare Required Documents

Share certificate and Board resolution approving allotment

Bank certificate evidencing receipt of foreign currency

Details of investor, percentage shareholding post allotment

Valuation report (if applicable)

Copy of Memorandum & Articles of Association (if required)

Step 4: File FC-GPR on the RBI’s Foreign Investment Reporting and Management System (FIRMS) Portal

Create company profile on FIRMS portal

Fill in details of foreign investment and share allotment

Upload required documents and declaration

Submit for RBI approval and acknowledgment