I have filed the FCTRS (Foreign Currency Transfer of Shares) form with the Reserve Bank of India (RBI). Recently, I received a query requesting non-trade advice from the bank. What steps should I take to respond to this query effectively?
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Please share the format.
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How many of you have faced this problem of Investors sending FDI money without a 6-pointer KYC?
I have had several cases where in spite of telling the investors to key in 6 pointer KYC in SWIFT, their banks miss it.
In my view, 6 Pointer KYC does not serve any purpose except it creates more confusion as it is a non-standard request. Out of the 6 questions, 3 are already answered in different fields.
What is the view of the members?
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Hello,
Hi, friends, can anyone file FCTRS for buy back of shares of an Indian company. Where the shareholder is foreign parent company, I need some guidance for filing FCTRS.
Dear Folks ,
Kindly help with the below query for filing FC-TRS:
An Indian Company (A Ltd.) is required to file Form FC-TRS for transfer of shares of Two different Investee Companies (M Ltd. and N Ltd.) to non-resident company.
Both the Investee Companies (M Ltd. and N Ltd.) have registered as Entity User.
Kindly let me know whether A Ltd. is required to register itself as Business User separately for M Ltd. and N Ltd.
An Individual Shareholder of a Private Limited Company was RI (Indian Resident)when he subscribed to MOA and AOA at the time of incorporation about 10 Years back.
Now, He recently became NRI due to his Employment abroad. Compliances under the Companies Act, 2013 have been done and he is NRI in the records of ROC / MCA.
Today, he wants to Transfer his entire Shareholding to a RI. Which compliances need to be done under FEMA?
Is FC-TRS filing is mandatory in the above peculiar and rare situation, too?
Hi professionals,
If anyone having process or checklist for filing a FCTRS before RBI? Please share with me.
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Dear All,
Request your suggestion.
Shared transferring from RESIDENT TO NON RESIDENT.
While registration on rbi firms website, We should upload a letter of authorization, Whose bank details(Transfer/Transference/Company account) need mention in letter of authorization.
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Also we are not getting company details with company CIN(We submitted details through entity user one day back)
Thanks in advance.
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Dear Members
There is a transfer of one share from a Non-Resident Nominee Shareholder to another Resident Nominee Shareholder.
Queries:
1. Will there be a transfer of money from Resident Buyer to Non-Resident Seller for that one share?
2. Will FCTRS be required to be filed for transfer between nominee shareholders
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while transferring the shares from Resident to Non Resident, who will obtain the Valuation Report? The transferor or the transferee
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Dear All,
There is one query regarding FCTRS filing. It is case of transfer of shares from resident to non-resident.
In the FIRC, the purpose of remittance need to be mentioned coorelating with RBI purpose code.
What would be the RBI purpose code for receipt of sale consideration towards sale of shares by Resident to Non-resident as I am unable to identify.
Your urgent reply is highly appreciated.
Dear All,
There is one query regarding FCTRS filing. It is case of transfer of shares from resident to non-resident.
In the FIRC, the purpose of remittance need to be mentioned coorelating with RBI purpose code.
What would be the RBI purpose code for receipt of sale consideration towards sale of shares by Resident to Non-resident as I am unable to identify.
Your urgent reply is highly appreciated.
