FEMA Consultant in Kolkata
In Kolkata, foreign investment often arrives through family: NRI members subscribing to a rights issue, a relative abroad buying shares from a resident, or a foreign partner joining a family business. Each step has a FEMA consequence — Rule 21 pricing, FC-GPR or FC-TRS within their deadlines, and the FLA return every 15 July — and we prepare the paperwork for Kolkata companies from Chennai, working with their banks.
Kolkata companies with old foreign shareholdings — stakes held by overseas relatives or former collaborators for decades — sometimes find that earlier issues or transfers were never reported. Those gaps surface when a new investor's bank asks for the company's FDI history, and they are fixed before the new money comes in.
Key facts for Kolkata companies
| Item | Kolkata |
|---|---|
| Registrar of Companies | The Registrar of Companies, Kolkata-I |
| FEMA compounding applications | The RBI Regional Office at Kolkata |
| NCLT bench | The Kolkata Bench of the National Company Law Tribunal |
| FEMA reporting | Online on RBI's FIRMS portal through the authorised dealer bank |
What must be reported when a foreign investor invests?
Shares issued to a non-resident are reported in Form FC-GPR within 30 days of issue; a transfer between a resident and a non-resident in Form FC-TRS within 60 days; a downstream investment in Form DI within 30 days; and every company with foreign investment files the FLA return by 15 July. Equity instruments must be issued within 60 days of receiving the money, or the money refunded within the next 15 days. Step-by-step FC-GPR and FC-TRS filing.
Is approval needed, and how is the price fixed?
Most sectors are open under the automatic route; investment from a country sharing a land border with India needs government approval (Press Note 3 of 2020). Shares are issued at not less than fair value under Rule 21 of the FEMA (Non-debt Instruments) Rules, 2019, certified by a chartered accountant, merchant banker or cost accountant. More on Rule 21 valuations.
What does a two-year delay in FC-GPR cost a Kolkata company?
Illustration (assumed figures)
Shares worth ₹60 lakh were issued to a relative in Singapore and the FC-GPR was filed exactly two years late. The late submission fee is ₹7,500 + 0.025% × ₹60,00,000 × 2 = ₹10,500, paid through the authorised dealer bank. Had the delay exceeded three years, the case would go to the RBI Regional Office at Kolkata for compounding instead.
How is an old reporting gap found and fixed?
The company's foreign shareholding is reconstructed from its register of members, allotment returns and bank records, compared with what was reported on FIRMS, and each gap listed with its date and amount. Gaps within three years are regularised with late submission fees; older ones, and contraventions such as an issue below fair value, are taken to compounding.
Foreign investment in Kolkata
Exporters and importers
Kolkata exporters and importers deal with export realisation and import payment timelines under FEMA through their authorised dealer banks, alongside any foreign investment reporting.
Foreign investment in family companies
Where an NRI family member or a foreign partner invests in a family company, the investment is priced at fair value and reported in FC-GPR, unless it is an NRI investment on a non-repatriation basis.
Rights issues with NRI family members
In a rights issue, shares offered to non-resident members of a family company must be priced at not less than the price offered to residents, and the allotment to them is reported in Form FC-GPR.
About V Viswanathan & Associates
- Chartered Accountants, FRN 013713S— Practising since 2012 from G-131, Spencer Plaza, Anna Salai, Chennai.
- IBBI Registered Valuer— Securities and financial assets, CA V. Viswanathan (IBBI/RV/03/2019/12333).
- FCA, ACS, CFE— Company law, tax and forensic accounting under one roof.
- Kolkata clients— Served from Chennai through video consultations and digitally signed filings.
Frequently Asked Questions
What is the deadline for Form FC-GPR?
Within 30 days from the date of issue of the shares to the non-resident investor, filed on RBI's FIRMS portal and processed by the company's authorised dealer bank (Regulation 4(1) of the FEMA (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019). The shares themselves must be issued within 60 days of receiving the money, or the money refunded within 15 days after that.
What happens if FC-GPR or FC-TRS is filed late?
A delay of up to three years can usually be regularised by paying a late submission fee through the authorised dealer bank: ₹7,500 plus 0.025% of the amount involved for each year of delay (counted in months), capped at the amount involved, under RBI's A.P. (DIR Series) Circular No. 16 of 30 September 2022. A late FLA return attracts a flat ₹7,500. Longer delays and other contraventions are compounded by RBI on an application.
Where is a FEMA compounding application filed for a Kolkata company?
The RBI Regional Office at Kolkata. Applications can be filed physically or on RBI's PRAVAAH portal, with a fee of ₹10,000 plus GST.
Can a Kolkata resident gift shares to an NRI relative?
Only with RBI's prior approval, which is considered within conditions that include a value limit for the financial year; once approved, the transfer is reported in Form FC-TRS.
Do you have an office in Kolkata?
No. We serve Kolkata clients from our office at Spencer Plaza, Anna Salai, Chennai, through video consultations, secure document sharing and digitally signed filings and reports.
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Law stated as at 27 Oct 2026. Official sources: Companies Act, 2013 (MCA), FEMA and RBI directions (RBI), Registered valuers (IBBI). Reviewed by CA V. Viswanathan, FCA, ACS, CFE, IBBI Registered Valuer (IBBI/RV/03/2019/12333).
FEMA Compliance for Kolkata Companies
Talk to us about foreign investment reporting for your Kolkata company.