FLA Return
Foreign Liabilities & Assets Annual Return
An annual return to the RBI reporting your company's foreign assets and liabilities. Mandatory for every Indian company (and LLP) that has received FDI or made overseas investment — even in a year with no fresh transaction.
- End-to-end preparation and filing on the RBI FLAIR portal.
- Compilation of foreign investment and overseas investment positions from your audited or provisional financials.
- Reconciliation with FC-GPR / FC-TRS / ODI records so figures tie out.
- Revised FLA filing where audited numbers differ from provisional.
FC-GPR
Foreign Currency – Gross Provisional Return (issue of shares to a non-resident)
Filed when your company issues shares or other eligible instruments to a person resident outside India against foreign investment. This is the core inbound-FDI reporting and must be done within 30 days of allotment.
- Filing FC-GPR on the RBI FIRMS portal within the 30-day window.
- Coordination of the valuation certificate and CS certificate required as attachments.
- Drafting the declaration, board resolution and KYC set for the remitting bank.
- Handling Late Submission Fee (LSF) computation and payment where the window is missed.
FC-TRS
Foreign Currency – Transfer of Shares (resident ↔ non-resident)
Filed when shares are transferred between a resident and a non-resident — by sale, gift or otherwise. Required whether the non-resident is buying in or exiting, and normally filed within 60 days of transfer or remittance.
- FC-TRS filing on the FIRMS portal for transfers both ways (inbound and exit).
- Pricing-guideline check and valuation coordination to confirm the transfer price is compliant.
- Preparation of the consent letter, transfer deed and declarations.
- LSF handling for delayed filings.
ECB Reporting
External Commercial Borrowings — Form ECB & monthly ECB-2
If your company borrows from a recognised lender abroad (foreign bank, parent, or overseas investor), the borrowing must be reported to the RBI before drawdown and monitored monthly for its full tenure.
- Obtaining the LRN (Loan Registration Number) by filing Form ECB through your AD bank.
- Monthly Form ECB-2 returns reporting drawdowns, utilisation and repayments.
- Eligibility, end-use and all-in-cost check against the ECB framework before you sign.
- Reporting of any changes/refinancing and closure on full repayment.
FEMA Compounding
Regularising a FEMA contravention with the RBI
Missed a filing, delayed an allotment, or breached a condition under FEMA? Rather than let it compound, a contravention can be voluntarily compounded with the RBI — a formal, one-time settlement that closes the exposure.
- Diagnosing the exact contravention and the regulation breached.
- Preparing and filing the compounding application with supporting documents and computation.
- Drafting the covering submission and representing the facts before the RBI.
- Guidance on the compounding order and closing out the underlying filing.
ODI & Annual Performance Report
Overseas Direct Investment reporting & ongoing APR
When an Indian company or resident invests in a foreign entity, the investment and its annual performance must be reported to the RBI under the Overseas Investment framework.
- Filing Form FC for the overseas investment through the AD bank.
- Annual APR (Annual Performance Report) for each overseas entity, based on its audited accounts.
- Reporting of disinvestment, restructuring and closure.
- Unique Identification Number (UIN) tracking and compliance calendar.
Branch / Liaison / Project Office
Set-up approvals & annual RBI reporting for foreign companies in India
Foreign companies establishing a presence in India through a Liaison Office (LO), Branch Office (BO) or Project Office (PO) need RBI/AD-bank approval and must file ongoing returns.
- Application and approval process for LO/BO/PO through the AD bank/RBI.
- Annual Activity Certificate (AAC) and other periodic filings.
- Registration and coordination with ROC where required.
- Closure and remittance of surplus on wind-up.
FIRMS / SMF Filings
Entity Master & Single Master Form on the RBI FIRMS portal
All inbound-investment reporting now flows through the RBI's FIRMS portal. Getting the Entity Master and Single Master Form right is what keeps FC-GPR, FC-TRS and downstream filings clean.
- One-time Entity Master registration and keeping it updated.
- Single Master Form (SMF) handling across FC-GPR, FC-TRS, LLP-I/II, DI, InVi and CN forms.
- Correcting rejected/returned filings and responding to AD-bank queries.
- Maintaining a clean reporting trail for due diligence and audits.
Downstream Investment & Sectoral Caps
Indirect foreign investment advisory
When a foreign-owned Indian company invests further into another Indian company, that indirect (downstream) investment carries its own reporting and sectoral-cap conditions.
- Downstream investment reporting (Form DI) and structuring.
- Sectoral cap and entry-route analysis (automatic vs. approval route).
- Checking pricing, conditions and total foreign holding across the chain.
- Advisory on whether an approval is needed before you proceed.
Retainership
Ongoing FEMA/RBI compliance on a monthly or annual retainer
For companies that want a single point of accountability, we act as your ongoing FEMA/RBI compliance partner — so no trigger, form or deadline is ever missed.
- A maintained compliance calendar mapping every FEMA/RBI due date for your entity.
- Proactive alerts before each filing, with documents drafted for sign-off.
- First point of contact for AD-bank and RBI queries.
- Quarterly review of new circulars and how they affect you.
Other Services
The rest of what a FEMA/RBI consultant handles — under one roof
Whatever specific requirement you have seen another consultant offer, it is very likely covered here as well:
DPT-3 & deposit reporting
Return of deposits / money not treated as deposits, including from non-residents.
LLP FDI reporting
Form LLP-I and LLP-II for foreign investment into LLPs.
Valuation coordination
Working with registered valuers / merchant bankers for FC-GPR, FC-TRS and ODI.
Convertible notes (Form CN)
Startup convertible-note reporting to the RBI.
Foreign investment structuring
Entry-route, instrument and holding-structure advisory before you raise.
RBI approvals & representations
Approval-route applications and correspondence with the RBI/AD bank.
Due-diligence support
FEMA compliance review and clean-up ahead of fundraising or M&A.
Repatriation & remittance
Advisory on dividend, sale-proceeds and capital repatriation under FEMA.
This page is a general overview of services and does not constitute legal advice. Forms, deadlines and thresholds change with RBI/FEMA notifications — please confirm the position for your specific case before acting.
Not sure which filing applies?
Tell me the situation — I'll tell you exactly what's due.
Share a one-line description of your foreign investment, borrowing or transaction, and you'll get a clear answer on which FEMA/RBI filings apply, the forms involved, and the deadline.