How to Report Foreign Investment in FC-GPR: Step-by-Step on RBI FIRMS
FC-GPR step by step: register on RBI FIRMS, gather FIRC, KYC, valuation and CS certificate, file within 30 days of allotment and pay LSF if late.
Short answer
File FC-GPR on the RBI FIRMS portal within 30 days of issuing shares or convertible instruments to a non-resident. Register the entity and a business user, then submit the single master form with the FIRC and KYC from the AD bank, a valuation certificate, a company secretary's certificate and shareholding details. The AD bank reviews it. Late filings attract a late submission fee.
- Portal
- RBI FIRMS (Single Master Form)
- Deadline
- 30 days from allotment
- Allotment window
- 60 days from receipt of funds
- Reviewed by
- AD Category-I bank
- Late fee
- ₹7,500 + 0.025% × amount × days
- Late fee available
- Up to 3 years; then compounding
When is FC-GPR required?
FC-GPR reports the issue of equity instruments by an Indian company to a person resident outside India. It covers equity shares, compulsorily convertible preference shares, compulsorily convertible debentures and share warrants, including issues on a rights basis, against swap, or for capital goods and pre-incorporation expenses with the necessary documents. A transfer of existing shares between resident and non-resident is reported separately in FC-TRS.
Register on FIRMS
Before filing, the company needs access to FIRMS. First create an entity user and complete the Entity Master with the company's CIN, PAN and details. Then register a business user, who files forms on behalf of the company. Approvals at each stage can take a few days, so register as soon as foreign investment is planned rather than after allotment.
Documents checklist
Upload documents as PDFs within the portal's size limits. Most returns and rejections come from missing investor KYC or mismatched names between the FIRC and the investor's documents, so check every name before uploading.
- FIRC from the AD bank for each remittance
- KYC report of the foreign investor from the remitting bank
- Valuation certificate by a CA or SEBI-registered merchant banker
- Company secretary's certificate on compliance
- Board resolution approving the allotment
- Pre- and post-issue shareholding pattern
- MoA and AoA where relevant
Filing and review
In the Single Master Form, choose FC-GPR and enter company, investor, remittance, instrument and valuation details. Make sure the issue price is not below fair value under FEMA pricing guidelines and the sector cap and route are respected. Submit to the AD bank, which reviews and either approves, returns for modification or rejects. Respond to queries promptly, because the 30-day clock continues.
| Stage | Who | Timing |
|---|---|---|
| Receive remittance | Company | Day 0 |
| Allot instruments | Board | Within 60 days |
| File FC-GPR | Business user | Within 30 days of allotment |
| Review | AD bank | Usually a few working days |
| Approval or query | AD bank / RBI | As raised |
What if you are late?
Delayed reporting can be regularised by paying a late submission fee, calculated as ₹7,500 plus 0.025% of the amount involved for each day of delay, capped at the amount involved. LSF is available for delays up to three years; longer delays require compounding with RBI. If shares cannot be issued within 60 days of receiving the money, the amount must be refunded within 15 days.
FC-GPR and other FEMA filings
FC-GPR is one of several FEMA reports filed on FIRMS. Keep the others in view so that one round of foreign investment does not quietly create multiple reporting defaults with separate late fees.
| Event | Report |
|---|---|
| Issue of shares, CCPS or CCDs to non-resident | FC-GPR within 30 days |
| Transfer between resident and non-resident | FC-TRS within 60 days |
| Convertible notes issued to non-resident | Form CN |
| Annual foreign liabilities and assets | FLA return by 15 July |
| Downstream investment by FDI-owned company | DI form |
Common mistakes
Starting FIRMS registration after allotment, using a valuation report that is too old, name mismatches between the FIRC and investor documents, and confusing FC-GPR with FC-TRS are common. Keep a single transaction file for each round.
Step by step
- 1Register entity user
Complete the Entity Master on FIRMS.
- 2Register business user
Create the filing user and get approval.
- 3Collect bank documents
Obtain FIRC and investor KYC from the AD bank.
- 4Get valuation
Obtain a fair value certificate.
- 5Allot shares
Allot within 60 days of receiving funds.
- 6Prepare certificates
Get the company secretary's certificate and board resolution.
- 7File FC-GPR
Submit the Single Master Form within 30 days.
- 8Respond to AD bank
Address any queries until approval.
Related services
Sources
Written by the Refogo Editorial Team from the official sources above and checked on 2026-10-31. Laws, rates and due dates change, and authorities often extend deadlines, so confirm your own case with a qualified professional. This is general information, not legal or tax advice. Read our editorial policy or report an error to support@refogo.com.
Common questions
What is the deadline for FC-GPR?
30 days from the date of issue of equity instruments to the non-resident.
Who reviews FC-GPR?
The AD Category-I bank through which the funds were received, on the RBI FIRMS portal.
What is the penalty for late FC-GPR?
A late submission fee of ₹7,500 plus 0.025% of the amount involved per day of delay, capped at the amount.
Is FC-GPR needed for convertible notes?
Convertible notes are reported in a separate form; FC-GPR applies to equity instruments such as shares, CCPS and CCDs.