What does FCTRS mean? What is the full form of FCTRS?
The Full Form of FCTRS is Foreign Currency- Transfer of Shares.
- Foreign Currency Transfer of Shares- There is no fee to submit the FC-TRS form if it is filed within 60 days from the date of receipt/payment date of the consideration amount. Otherwise, the RBI / AD bank may impose a late packing penalty via late submission fee (LSF).
- It is the responsibility of the transmitter/transmitter residing in India.
- The transferee/transferee who deposits the form needs to register with the Reserve Bank of India’s portal before depositing it.
- It is mandatory to attach a letter of approval from both buyer and seller with the FC-TRS form.
- The evaluation of the shares to be transferred must be in accordance with the standards of foreign direct investment.
- Attention must be paid to the sectoral limits applied to the company before transferring the shares.
FCTRS
means
Foreign Currency- Transfer of Shares
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