In reference to the wholly owned subsidiary in India do we have to file FIRC Reporting Documents and Form FCGPR-Part A with RBI at the time of incorporation since it is a subscription and not a normal allotment of shares. If yes, what is the timeline.
10 January 2012
The answer is yes and the timeline remains the same as in case of later remmitances.
Here everybody needs to understand that RBI is concerned with Foreign Exchange and incorporation and money coming later into company is of same value .
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