Form FC-TRS

(FEMA Compliances)

Unique Identification Number from RBI by reporting Advance Foreign Remittance; KYC report; CS certificate; Certificate from SEBI registered Merchant banker/CA; Disclaimer certificate; Statutory auditor certificate; Board resolution; Copy of FIPB approval; NOC from the remitter for the shares allotted to the third party; Letter from the foreign investor laying down the reasons for making subscription to shares; Copy of agreement/board resolution; and Reason for delay in submission, if required. It may be noted that the Reserve Bank or AD Bank can ask for any other document if needed..

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Form FC-TRS

FCTRS stands for Foreign Currency Transfer of Shares. RBI has specified Form FCTRS for making reporting of Transfer of Capital Instruments between a person resident in india and a person resident outside India.

Whenever there is a transfer of capital instruments between a resident india and a non resident, then the Company needs to make the reporting of the same in Form FCTRS.

Form FCTRS is required to be filed for reporting of Transfer of shares between a resident and a Non-Resident Person.

Whenever there is a transfer of shares between the following then that needs to be reported in Form FCTRS. The FIRMS e-reporting system at the moment allows the reporting of the following transactions:

  • Reporting of FDI to companies
  • Reporting of FDI to LLP
  • Transfer of share / capital to companies / LPL between residents and non-residents
  • Issue or transition of convertible notes.

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