FDI in India is allowed via automatic route and the approval route through FIPB. The Foreign Investment Promotion Board (FIPB) is a national agency of Government of India, which considers and recommends Foreign Direct Investment (FDI) which does not come under the automatic approval by the Reserve Bank of India (RBI). It provides a single window clearance for proposals on FDI in India.
The process of approvals requires filing of the on-line application along with associated documents. Some of the documents which are required for FIPB approvals are enumerated below, for general reference of our clients:
Documents to be uploaded at the time of submission of application
- Summary of Proposal on Company(Applicant) Letterhead
- Certificate of Incorporation(COI) (Investee/Investor/Downstream)
- Memorandum of Association(MOA) (Investee/Investor/Downstream)
- Board Resolution(Investee/Investor/Downstream)
- Audited Financial Statement of Last Financial Year (Investee/Investor/Downstream)
- Article of Association(Investee/Investor/Downstream)
- LLP Draft
- LLP Agreement
- Income Tax Return of Last Year
- Passport Copy/ Identification Proof
- A copy of the JV agreement/shareholders agreement/ technology transfer/trademark/brand assignment agreement (as applicable), in case there are existing ventures.
- Board resolution of any joint venture company (if required)
- Certificates of Incorporation and charter documents of any joint venture/company which is a party to the proposed transaction
- Certification for LLP cases compliance
- Copy of Downstream Intimation
- Copy of relevant past FIPB/SIA/RBI approvals, connected with the current proposal(In case of amendment proposal)
- Diagrammatic representation of the flow and funds from the original investor to the investee company and Pre and Post shareholding pattern of the Investee Company.
- In the cases of investments by entities which themselves are pooled investment funds, the details such as names and addresses of promoters, investment managers as well as all the contributors to the investment fund.
- List of the downstream companies of the Indian company and the details of the equity held by the Indian Company along with the details of the activities of the companies
- Self-Certificate of the documents/ for affidavit.
- The comments of the Indian partners/ technical/ trademark collaborators about the new venture, on their official letter heads, with name and contact address of the signatory of the comments.
- The No Objection Certificate from the the State Government (in case of repatriation under real estate sector)
- Valuation certificate as approved by a CA
- Balance sheets of the last two years of investee company
- Certificate Regarding non-compete Clause
- Does the investee company company possess any advanced/critical technology. If so, the details therof may be furnished. Proposal and possibility of any technology transfer after the induction of FDI may also be indicated.
- Name and quantities of the products (both bulk drug and formulations) actually manufactured by investee Pharma company during last 3 financial years.
- Name of NLEMs manufactured alongwith corresponding qualitative production during last 3 financial years.
- Name of Products approved by concerned state drug controller
- The details of any technology transfer after the induction of FDI (in case of pharma)
Security Clearance Form
Additional Relevant Document
Brief on our Services.
B Samrish & Co is having more than 18 years of experience in handling projects related to clearances required for a foreign business desirous of investing and doing business in India. Our services include: –
- Liaison with different regulatory authorities, departments and ministries.
- Apprising the clients on complete details of current regulatory practices applicable to particular business.
- Assisting the clients in preparing all the associated documents.
- Application for all legal clearances, licenses and approvals.
Terms of Services
- Cases can be discussed via phone, skype or mail.
- Post discussion of the case fee for the project will be quoted.
- Please note that business operating in different sectors need to comply sector specific compliances along with the general compliances of corporate laws of the country.
- Upon agreed terms and conditions, the project will be handled by our team having specialized knowledge of the approval process.
- A brief on regulatory compliances, approvals required, requirement of documents from your side and timelines involved for each stage will be provided by our specialized team.
- For conducting business in India, you require a robust system to comply with the laws of the land. Alternatively, you can also subscribe to our ‘Annual Compliance and Maintenance of Statutory Records’ services, fees of which will be provided upon request.
To discuss your case, please visit our contact us page.