What is the Meaning of Foreign Direct Investment(FDI)?
Contribution to the capital of an LLP would be an eligible investment under the scheme. FDI is permitted under the automatic route in LLPs operating in sectors / activities where 100% FDI is allowed through the automatic route and there are no FDI linked performance conditions.
Need of FDI Reporting:
LLPs shall submit Form FOREIGN DIRECT INVESTMENT-LLP(I), together with a copy of FIRC, Valuation Certificate and KYC report to concerned Regional Office of RBI through an AD Category – I bank within 30 days from the date of receipt of the inward remittance.
Documents Required for FOREIGN DIRECT INVESTMENT- LLP (I):
- Foreign Inward Remittance Certificate from the bank evidencing the receipt of the remittance.
- KYC report on the non-resident investor from the overseas bank remitting the amount.
- Declaration and the certificate from the designated partner/ authorized representative.
- Valuation certificate
- Reason for delay in submission: this attachment is required if the form is submitted after 30 days from the date of receipt of funds.