Last date to file Form FC-TRS
Mohit Khanna
CS Sudhir Sutar
Foreign investors can invest in Indian companies by purchasing / acquiring existing shares from Indian shareholders or from other non-resident shareholders. General permission has been granted to non-residents / NRIs for acquisition of shares by way of transfer in the following manner.
- Transfer of shares by a Person resident outside India
- Non Resident to Non-Resident (Sale / Gift)
Note: Transfer of shares from or by erstwhile OCBs would require prior approval of the Reserve Bank of India.
NRI to NRI (Sale / Gift)
- Non Resident to Resident(Sale / Gift)
Note: Transfer of shares from a Non Resident to Resident other than under SEBI regulations and where the FEMA pricing guidelines are not met would require the prior approval of the Reserve Bank of India.
- Non Resident to Non-Resident (Sale / Gift)
- Transfer of shares/convertible debentures from Resident to Person Resident outside India
- Transfer of Shares by Resident which requires Government approval
- Prior permission of the Reserve Bank in certain cases for acquisition / transfer of security
- Escrow account for transfer of shares
Reporting of FDI for Transfer of shares route
- Form FCTRS shall be filed for transfer of capital instruments between:
(1) A person resident outside India holding capital instruments in an Indian company on a repatriable basis and person resident outside India holding capital instruments on a non repatriable basis; and
(2) A person resident outside India holding capital instruments in an Indian company on a repatriable basis and a person resident in India,
- The onus of reporting shall be on the resident transferor/ transferee or the person resident outside India holding capital instruments on a non-repatriable basis, as the case may be.
Note: Transfer of capital instruments in accordance with these Regulations by way of sale between a person resident outside India holding capital instruments on a non-repatriable basis and person resident in India is not required to be reported in Form FC-TRS.
- Transfer of capital instruments on a recognised stock exchange by a person resident outside India shall be reported by such person in Form FC-TRS to the Authorised Dealer bank.
- Transfer of capital instruments prescribed in regulation 10(9) of FEMA 20(R), shall be reported in Form FC-TRS to the Authorised Dealer on receipt of every tranche of payment. The onus of reporting shall be on the resident transferor/ transferee. Transfer of ‘participating interest/ rights’ in oil fields shall be reported Form FC-TRS.
- The form FCTRS shall be filed with the Authorised Dealer bank within sixty days of transfer of capital instruments or receipt/ remittance of funds whichever is earlier.
Office :
#12-D, First Floor, Lengde Building (Hostel),Beside Gogte Petrol Pump, Khanapur Road,
Tilakwadi, Belgaum - 590006 KA
Phone :
+91 9743767488 | 0831-4217488Email :sutar...@gmail.com
in...@cssudhirsutar.com | cssudh...@gmail.com
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