More about FC-GPR

Frequently Asked Questions

Yes, the investor can use his Indian account to invest in the company as long as the source of that income lies in India. In case the amount is not earned in India, he will need to transfer the funds from his foreign account in foreign currency. In this scenario the company has to report this to RBI through FC-GPR.
This is dependent on the category of FDI your business lies in (dependent on the sector and nature of business). In cases where FDI can be brought in through automatic route no pre-approval or intimation to RBI is needed. Once the money comes to the company’s bank account, the RBI has to be informed about it with in 180 days through FC-GPR
You will have to provide FIRC (Foreign Inward Remittance Certificate) and KYC (Know Your Customer) which will be issued by the bank of the company. A valid valuation certificate will also be needed.
The bank has to compulsorily issue FIRC or KYC. However it may be delayed for various reasons which may or may not be under the control of the Bank. Hence if we fail to file FCGPR for the sole reason of lack of FIRC and KYC not yet issued by the bank, then RBI will accept our explanation for the delay and will approve our FC-GPR application.
Yes. In case your company falls in this sector, you can start using the money before even filing the FC-GPR form (you have 180 days from date of arrival of money to file FC-GPR). However, share certificates for the same should be issued before you utilize those funds

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