Published on:
September 29, 2023
Shaik Musrath

Provisions of Filing of FC-GPR under FEMA Guidelines

Foreign Direct Investment (FDI) is a vital component of a country's economic growth. India, with its burgeoning economy, has attracted significant FDI over the years. To regulate and monitor these investments, the Reserve Bank of India (RBI) has laid down comprehensive guidelines under the Foreign Exchange Management Act (FEMA). One crucial aspect of these guidelines is the filing of the FC-GPR form. In this blog, we will explore the provisions of filing the FC-GPR form under FEMA guidelines.

What is FC-GPR

FC-GPR stands for Foreign Currency-Gross Provisional Return. It is a form that entities receiving foreign direct investment (FDI) in India must file with the RBI. The FC-GPR form contains essential details about the investment, the foreign investor, and the Indian company receiving the investment.

What are Provisions and Requirements for Filing FC-GPR

To ensure smooth compliance with FEMA guidelines regarding FC-GPR, here are the key provisions and requirements:

Time Frame for Filing 

The Indian company receiving FDI must submit the FC-GPR form to the RBI within 30 days from the date of receiving the foreign investment.

Authorized Dealer Bank

The FC-GPR form must be filed through the authorized dealer bank, i.e., the bank through which the FDI transaction was conducted. This bank plays a pivotal role in verifying the transaction and submitting the form on behalf of the Indian company.

Information to be Furnished

The FC-GPR form requires detailed information, including:

Particulars of the Indian company.

Details of the foreign investor, including their name, address, and shareholding pattern.

The sector in which the investment is made.

The amount and mode of FDI (whether through equity shares, preference shares, or other


Compliance with pricing guidelines and reporting of valuation of shares.

Valuation Certificate

The FC-GPR form must be accompanied by a valuation certificate provided by a Chartered Accountant or a SEBI registered Merchant Banker. This certificate verifies that the shares have been issued to the foreign investor at a fair and accurate valuation.

Reporting on Non-Repatriation Basis

If the FDI is received on a non-repatriation basis, this should be explicitly mentioned in the FC-GPR form.

Amendments and Updates

In case of any subsequent changes or amendments to the initial FDI transaction, the Indian company is required to inform the RBI and authorized dealer bank through the appropriate form, typically the FC-TRS (Transfer of Shares).

What are Challenges and Common Issues

While filing FC-GPR, Indian companies often face several challenges and issues, such as:

Complex Documentation

The FC-GPR filing process involves extensive documentation, including legal agreements, valuation reports, and compliance certificates. Ensuring accuracy and completeness can be daunting.

Valuation Disputes

Determining the fair value of shares issued to foreign investors can sometimes lead to disputes or delays in the filing process.

Timely Compliance 

Meeting the 30-day filing deadline is crucial, and any delay can result in penalties or legal complications.


Filing the FC-GPR form is a critical step in ensuring compliance with FEMA guidelines for foreign direct investment in India. It not only helps the RBI monitor and regulate FDI but also provides transparency in cross-border transactions. To navigate the complexities of FC-GPR filing, Indian companies often seek assistance from legal and financial experts to ensure accuracy and timeliness. By adhering to the provisions and requirements laid down by FEMA, businesses can foster a favorable investment climate and contribute to India's economic growth.


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Updated on:
September 29, 2023