《外汇管理法》(FEMA) 下的外国直接投资 (FDI) 合规要求

对于像印度这样资金并非随时充裕的国家而言，外国直接投资（FDI）一直是企业重要的资金来源。在外国直接投资模式下，个人或实体将海外资金投入到印度公司中。

In India, Foreign Direct Investment policy is regulated under the Foreign Exchange Management Act, 1999 governed by the Reserve Bank of India. According to the Organization for Economic Co-operation and Development (OECD), an investment of 10% or above from overseas is considered as FDI.

《外汇管理法》（FEMA）已成为印度各行业增长与发展的重要推动力。该法案的主要宗旨是促进对外贸易、平衡国际收支、推动有序发展，并维护印度的外汇市场。

What is FDI?

Foreign Direct Investment (FDI) is an organization’s transfer of funds from one country to another in order to create ‘lasting interest.’ According to the OECD (Entity for Economic Co-operation and Development), if the entity acquires at least 10 percent of voting power in another organization, a permanent interest is calculated.

FDI’s definition isn’t limited to international capital movement alone. Its concept also includes the international movement of complementary elements of capital-such as skills, systems, management, technology, etc.

Foreign Direct Investment (FDI) is one of the Indian company’s main sources of funds. Under FDI, money from individuals or from foreign companies is invested in Indian startups and existing companies. The FDI Policy is governed by the Reserve Bank of India (RBI) under the Foreign Exchange Management Act (FEMA) 2000.

In India, the Foreign Direct Investment Policy is regulated by the Reserve Bank of India’s Foreign Exchange Management Act, 1999. An investment of 10 percent or above from overseas is known as FDI, according to the Organization for Economic Co-operation and Development (OECD).

How can an Indian Company Receive Foreign Direct Investment?

印度公司获得外国直接投资的主要途径有两种：

1. 自动审批路径

According to Regulation 16 of FEMA 20 (R), foreign investment is permitted through the automatic route without receiving any prior approval of the Government or the Reserve Bank of India, in all the activities or sectors. In simpler words- under the Automatic Route, the non-resident investors do not require prior approval from the Government of India or RBI.

->允许通过自动审批路径进行外国直接投资的行业：

• 农业
• 畜牧业
• 电子商务活动
• 医疗保健
• 制造业
• 纺织与服装
• 资本货物

2. Government/ Approved Route

Under the Government route, approval from the Government authorities or Ministries is required through the Foreign Investment Facilitation Portal (FIFB). FIFB is regulated by the Dept of Industrial Policy & Promotion (DIPP). This means, any and all investments not covered under Automatic Route fall under the Approved Route.

->允许通过政府审批路径进行外国直接投资的行业：

• 银行与公共部门 – 20%
• 核心投资公司 – 100%
• 食品零售贸易 – 100%
• 多品牌零售贸易 – 15%

Sectors where FDI is not allowed under both Automatic and Government Route:

• 彩票业务，包括私人彩票、在线彩票等。
• Nidhi 公司（互助储蓄公司）
• 标会（Chit funds）
• 房地产业务
• 建筑公司
• 赌场（博彩和投注）
• 原子能

What are the Compliances set up by FEMA for Foreign Direct Investment?

Ever since coming into existence, FEMA has acted as a crucial source in India for the growth and development of different sectors. FEMA’s main aim is to promote international trade and orderly growth, balance payments, and maintain India’s international exchange market. Here is the list of main compliance to be followed under FEMA’s provisions:

1. Annual Return on Foreign Liabilities and Assets

所有在往年（含本年度）接收过外国直接投资（FDI）或进行过境外直接投资（ODI）的印度居民公司，均必须强制提交年度申报表。该年度申报表用于申报外国资产和负债，也称为 FLA 申报表。

如果印度公司在报告年度末没有任何未偿还的外国直接投资或境外直接投资，则该公司无需提交 FLA 申报表。

此外，即使印度公司未收到任何新的外国直接投资或境外直接投资（ODI），该公司仍需在每年 7 月 15 日之前提交 FLA 申报表。

2. Annual Performance Report (APR)

Any resident individual or an Indian party or entity who has made any Overseas direct Investment needs to submit an Annual Performance Report (APR) IN Form ODI Part II to the AD bank. This report is filed with respect to Joint Venture (JV), Wholly Owned Subsidiaries (WOS) outside India. This must be done on or before 31st December every year.

3. External Commercial Borrowings

借款人需通过 AD 分类 I 类银行（AD Category-I bank）按月向印度储备银行（RBI）报告所有外币商业借款（ECB）交易。为此规定的申报表为 ECB2 申报表，需按月提交。

4. Single Master Form (w.e.f. 30-06-2018)

Under the head Single Master Form FC-GPR, LLP-I, LLP-II, FC-TRS, CN, ESOP, DI, DRR, InVi are to be filed and submitted. On September 1, 2018, The Reserve Bank of India also released a user manual to bring clarity regarding the procedure for filing a single master form, which was introduced on June 7, 2018.

引入该表格的目的是整合印度现有的外国投资报告规范。

5. 预先申报表 (ARF)

如果印度公司根据 FDI 计划收到来自印度境外的投资以发行股票或任何其他合格证券，则必须向印度储备银行相关地区办公室报告。金额详情必须在股票发行之日起 30 天内通过 AD 分类银行提供。

6. FC-GPR 表格

FC-GPR 表格是印度储备银行 (RBI) 根据《1999 年外汇管理法》发布的。当公司收到外国投资，并针对该投资向外国投资者配发股份时，主要需提交此表格。

公司有义务在 30 天内向印度储备银行提交有关此类股份配发的所有必要详情。公司须使用 FC-GPR 表格（即外币总额临时申报表）向印度储备银行提交相关信息。

7. FC-TRS 表格

FC-TRS 表格（也称为外币转让表）用于印度境外居民股东在转让股份时使用，无论是转让给印度居民还是反之亦然。FC-TRS 表格必须与 FC-GPR 表格一并提交给其授权交易银行，再由该银行转交至印度储备银行。

8. ODI 表格

居民个人或印度方在进行海外投资时，必须提交 ODI 表格。相关方须提交股票证书或在外国合资企业 (JV) 或全资子公司 (WOS) 进行投资的其他证明文件，且证书必须在 30 天内提交给指定的授权交易商 (AD)。