What is the difference between FC-GPR and FC-TRS? +
FC-GPR reports fresh equity instruments allotted by an Indian company to a non-resident investor, filed within 30 days of allotment. FC-TRS reports a transfer of existing shares between a resident and a non-resident, filed within 60 days of the transfer. They cover different events and are filed as separate forms on the RBI FIRMS portal.
Do I need to file FLA return even if I had no new foreign investment this year? +
Yes. The FLA return is position-based, not event-based. If your company has any outstanding FDI or ODI on its books as of 31 March, you must file by 15 July every year, even with zero new transactions that year. Skipping it because "nothing changed" is one of the most common FEMA lapses.
What happens if I have a delayed or missed FEMA filing? +
A delayed filing attracts a flat Late Submission Fee, and an unreported or false filing can attract a penalty under Section 13 of FEMA of up to three times the amount involved, or ₹2,00,000 where the amount can't be quantified, plus a daily penalty for continuing default. RBI's compounding mechanism lets you voluntarily regularise the lapse — we assess whether it's your fastest route before you commit to anything.
Is RBI approval needed for every foreign investment? +
No. Most sectors fall under the automatic route, where no prior RBI approval is needed — you only report the investment after the fact through FC-GPR or FC-TRS. A defined list of sectors requires prior government approval through the FIFP portal. We check your sector classification before you proceed.
How long does a FEMA filing take once I start? +
Once your FIRC, KYC report and valuation certificate are ready, most routine filings like FC-GPR, FC-TRS and FLA are completed within a few working days. Compounding applications and cases needing fresh valuation or sector clearance take longer — we tell you the realistic timeline upfront.
