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Post-Economic reform policies implementation, Foreign Direct Investment (FDI) has long been a valuable channel of maximizing globalization. India is more liberal in making investments in other countries and other countries have various options to make investments in India through various channels. However, any investment in India without any regulatory provisions can be harmful and therefore, the entire Investment in India is directly monitored by the Reserve Bank of India itself.
Various information is required to be filed with RBI to inform about Foreign Direct Investment. Reserve Bank of India (“RBI”) has taken all necessary steps to keep reporting simplified and sorted. Therefore, various changes have been made in the reporting requirement of FDI. In this article, we have made a brief discussion about changes in the manner of reporting FDI to the RBI.
Earlier following forms were applicable for reporting FDI:
An Indian company issuing equity instruments to a person resident outside India should file Foreign Currency-Gross Provisional Return (FGPR) Form, within 30 days from the date of issuance of the equity instruments. Earlier, the Advance Remittance Form (ARF) for Reporting of the amount of consideration received for issue of capital instruments and Know Your Customer (KYC) Form is also submitted along with the same.
The resident transferor/transferee, or the person resident outside India holding equity instruments on a non-repatriable basis, as the case may be, should file the Foreign Currency-Transfer of Shares (FCTRS) Form, within 60 days of the transfer of equity instruments or receipt/remittance of funds, whichever is earlier.
A Limited Liability Partnership (LLP) that is receiving an amount of consideration for the capital contribution should file the LLP(I) Form, within 30 days from the date of receipt of the amount of consideration.
The resident transferor or transferee, as the case may be, is required to file the LLP(II) Form, within 60 days of the receipt of the amount of consideration, for transfer of capital contribution from a resident to a non-resident, or vice-versa.
The Indian start-up company, which is issuing convertible notes to a person resident outside India, is required to file the CN Form, within 30 days from the date of issuance of the convertible notes. Further, the resident transferor or transferee also must file the CN Form, within 30 days of the transfer of the convertible notes issued by an Indian start-up company, from a resident to a non-resident, or vice-versa.
The domestic custodian who issues/transfers the depository receipts, in accordance with the Depository Receipt Scheme, 2014 is required to report it in the DRR Form, within 30 days of issuance or transfer of depository receipts.
Any Indian company that issues the employees’ stock option to persons resident outside /India, who are its employees/directors or employees/directors of its holding company/joint venture/wholly-owned overseas subsidiary(s), should file the ESOP Form, within 30 days from the date of issuance of employees’ stock option.
An Indian entity, or an investment vehicle, that is making downstream investments in another Indian entity, which is considered as indirect foreign investment for the investee Indian entity, is required to file the DI Form, within 30 days from the date of allotment of equity instruments.
インド国外に居住する者に対してユニットを発行した投資ビークルは、ユニットの発行日から30日以内にINVIフォームを提出しなければなりません。
FLAフォームは、当年度を含む過去のいずれかの年度において、外国直接投資（FDI）を受け入れた、または海外直接投資（ODI）を行ったすべてのインド居住企業が提出を義務付けられている年次報告書です。FLAは毎年7月15日までに提出する必要があります。
フォームLEC(FII)は、指定された支店が外国機関投資家（FII）に代わってインドの証券取引所を通じて、または直接発行を通じて行った株式／転換社債の売買総額について、企業別の詳細を示す明細書です。したがって、フォームLEC(FII)は認定銀行がインド準備銀行（RBI）に提出する必要があります。
認定ディーラーカテゴリーI銀行は、非居住インド人（NRI）またはインド海外市民（OCI）によるインドの証券取引所での資本性金融商品の購入／譲渡について、フォームLEC(NRI)を用いてインド準備銀行に報告しなければなりません。
上記以外にも、FDIに関連する情報を提供するために、その他さまざまなフォームが提出されます。
FIRMSポータルでビジネスを登録するためのステップバイステップガイドは以下の通りです：
Visit the FIRMs website as https://firms.rbi.org.in
ログインボックスにある「新規ビジネスユーザー（New Business User）」の登録フォームをクリックします。
登録フォームの指示に従い、正しい情報を入力してください。
「送信（Submit）」ボタンをクリックします。
注意：エラーが表示された場合は、内容を修正してから再度「送信」ボタンをクリックしてください。
ログインボックスの上部に「登録が完了しました（Record Saved Successfully）」という確認メッセージが表示され、登録が完了します。
ビジネスユーザー（BU）が登録フォームを送信すると、担当のAD銀行支店による確認が行われます。承認または却下の結果は、メール通知を通じて該当するビジネスユーザーに連絡されます。
FIRMSへのログイン手順は以下の通りです。
）にアクセスします。https://firms.rbi.org.in
2回目以降のログインでは、ログインボックスにユーザー名、設定したパスワード、キャプチャを入力して「送信」をクリックするだけで、直接ワークスペースにアクセスできます。
In case the user has forgotten their password, the following steps shall be followed.
While the processing of the applications in consolidated SMF form in a given timeframe has eased the reporting of FDI transactions. However, there is an obvious practical limitation associated with the filing of the application in SMF account that only one application can be processed at a given point of time across all the SMF account/accounts of an Indian entity and unless the said application is approved/rejected, the Indian entity cannot file another application on any of its SMF account/accounts.
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