Do you wish to transfer of shares between residents and non-residents and vice- versa is to be done in Form FC-TRS? Does your Company wish to allot shares to foreigners? Under Fema Compliance, filing Form FC-TRS within 60 days is mandatory. File yours with Ebizfiling at INR 24999/- only.
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In literal meaning, FC-TRS stands for Foreign Currency Transfer. It is a form issued by RBI under Foreign Exchange Management Act,1999.
Whenever any transfer of shares takes place between a resident and a non-resident, the resident individual or entity has to report the transaction to RBI by filing of Form FC-TRS.
The reporting of Form FC-TRS should be done within a period of 60 (Sixty) days from the date of receiving the money.
Transactions for Which form FC-TRS needs to be filed:
FC-TRS to be filed for the following transactions
Note: Transfer of capital instruments by way of sale by a person resident outside India holding such instruments on a non-repatriable basis to a person resident in India is not required to be reported in form FC-TRS.
An entity will be considered non-compliant under FEMA, if it does not comply with the SMF filing procedure for filing of Form FC-TRS set out under the SMF Manual, or does not enter the relevant details in the EMF, or enters the details in the EMF without stating a plausible reason for the delay. In any one of these cases, the Indian entity will not be able to receive foreign investment, including indirect foreign investment.
Related Post: How to file RBI Form FC-TRS?
The Article that might be helpful to you: The Procedure for filing of form FC-GPR.
Ebizfiling.com is a motivated and progressive concept conceived by like minded people, which helps small, medium and large businesses including Indian Subsidiary to fulfil complex compliance. Apart from FC-TRS filing services, we also provide services for FC-GPR filing, Startup advisory, and management consultancy services to clients in India and abroad. You may get in touch with our compliance manager on 09643203209 or email info@ebizfiling.com. requirements of Indian Laws.
(All Inclusive)
5 Easy Steps
Fill in simple Checklist
Details of the Transactions
Details of shareholding pattern
Verification of documents
Form FC-TRS filed
A Compliance Manager will get in touch with you to obtain your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for processing. Our team of experts will verify the documents provided by you. After that our team will take the procedure further.
Once our expert team completes the verification process of your documents and details, the team will proceed with the Form FC-TRS filing formalities. All throughout the filing process, your dedicated Compliance Manager will keep you updated on the progress of filing of form FC-TRS. We will file the RBI form FC-TRS online.
To start with the filing procedure of Fc-TRS form, we will register you as a business user on an online portal and then We will finally proceed to file the form online. After filling in all the details carefully, we will submit the form and we will notify you after the successful submission of the form FC-TRS.
The form FC-TRS shall be filed with the Authorised Dealer bank within sixty days of transfer of capital instruments or receipt/ remittance of funds whichever is earlier.
Reporting of transfer of shares between residents and non-residents and vice- versa is to be done in Form FC-TRS (Section-4). The Form FC-TRS should be submitted to the AD Category-I bank, within 60 days from the date of receipt of the amount of consideration. For more information.
Contact your Authorised Dealer Bank first. Business User registrations and forms filed in SMF are processed at AD level.
For filing in SMF, one has to register as a Business User, which is separate from Entity User.
Following are the main points one should remember before filing FC-TRS:
Following three Securities are considered under FDI:
Yes, Form FC-TRS can be filed online by anyone. However Considering the complex work and compliance of the same is a difficult process, it is not easy to comply with all the laws correctly and within time, and therefore it is always advisable to seek the help of experts to manage such compliances.
There is no upfront (like MCA portal) statutory fees for filing FC-TRS. on online portal, but AD Bank may charge for processing FC-TRS. The processing fees may vary from Bank to Bank. The bank may ask for an authorisation from Applicant in order to deduct the bank charges from account.
Don’t worry! Our experts are here to help you. Get in touch with our team for easy filing of SMF form FC-TRS. Write to us at info@ebizzfiling.com or call us @+91 9643 203 209.
Do you wish to transfer of shares between residents and non-residents and vice- versa is to be done in Form FC-TRS? Does your Company wish to allot shares to foreigners? Under Fema Compliance, filing Form FC-TRS within 60 days is mandatory. File yours with Ebizfiling at INR 24999/- only.
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