FIFP: Required Documentation for FIFP Approval

What is FIFP ?

The FIFP stands for the Foreign Investment Facilitation Portal. It is a newly designed web portal where Telecom Companies can attain Foreign Investment Approva from the Central Government. This approval is needed to invite fun from foreign establishments. But they must garner prior approval from the Government.

In this article, we are detailing the required documentation to be submitted along with the FIFP approval application to further your candidature's authenticity to the Authority. Some of these documents are mandatory, and some can be presented per the Examiner's need during the application assessment period. But the person keeps all the below-mentioned documents ready before the application filing process. Let us look at them one by one.

Required Documentation for FIFP Approval Application filing

The Foreign Investment Facilitation Portal approval applicant must submit the following documents along with the approval application to the Examiner:

Applicant must submit the Proposal summary on its Company's LetterheadCertificate of Incorporation of all the Investees, Investors, or Downstream, respectivelyMemorandum of AssociationBoard Resolution of the Investee, Investor, or DownstreamAudited Financial Statement of the Previous Fiscal Year of the Investee, Investor, or DownstreamArticles of AssociationLLP Draft and LLP Partnership Agreement, in case the applicant is an LLPIncome Tax Return (ITR) filings of the Last Fiscal YearPassportProof of Identification of the FIFP Applicant

Other Relevant Documents for FIFP Approval

Apart from the application's immediate requirements of documents, the Foreign Investment Approval applicant must also arrange the following documents:

In the case of Existing Ventures

If the applicant has any existing ventures, then he must submit atleast one of the following:

Joint Venture AgreementShareholders AgreementTechnology TransferTrademark Assignment Agreement

Joint Venture Details

Board resolution of the JV companyCertificates of IncorporationCharter Document of the joint venture company: The company must be a party to the proposed transaction

Fund Flow Diagram

Diagrammatic representation for the flow of funds from the original Investor to the Investee. It must also mention the pre and post-shareholding pattern of the Investee in the applicant Company.

 

In the case of Pooled Investment Funds

Details of the Pooling Investors, such as:

Names and Addresses of PromotersNames and Addresses of Investment ManagersNames and Addresses of all the Contributors to the Investment Fund

 

Downstream Companies Details

List of the Downstream Companiesdetails of the equity held by the Indian CompanyDetails of the activities of the Downstream Companies

 

Self Certificate of the documents/ for the affidavit.

Comments of the Collaborators

Comments of the Indian partnersComments of the Technical collaborators, andComments of the trademark collaborators about the new venture

The comments must be mentioned on the official letterheads of the collaborators alongwith the name and contact address of the comment's signatory.

Other Docs

Certification for Limited Liability Partnership cases complianceFIRC CertificateIntimation letter to the Downstream CompaniesPast FIPB, SIA, or RBI approvals in connection with the current FIFP proposal, even if the Authority has amended the proposal No Objection Certificate from the State Government if the repatriation has happened in the real estate sectorChartered Accountant approved applicant Company's Valuation certificate

If you want to know further about the Foreign Investment Approval registration process, then you can connect with Registrationwala.