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Documents Checklist For APR Submission

The document outlines a checklist of required documents for APR submission, including a signed covering letter, filled APR form, and audited financial statements of the foreign entity. It specifies conditions under which unaudited financials are acceptable and details additional requirements for changes in capital structure and SDS reporting. Branch-specific notes include the need for AD certification and specific annexures on bank letterhead.

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353 views2 pages

Documents Checklist For APR Submission

The document outlines a checklist of required documents for APR submission, including a signed covering letter, filled APR form, and audited financial statements of the foreign entity. It specifies conditions under which unaudited financials are acceptable and details additional requirements for changes in capital structure and SDS reporting. Branch-specific notes include the need for AD certification and specific annexures on bank letterhead.

Uploaded by

Charudatta
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Documents checklist for APR submission:

1. Duly filled & signed covering letter as per format given in Annexure ODI2 (In
case of non-individual it should be on Indian company letter head)

2. Duly filled & signed form APR (In case of Indian entity Statutory Auditor
certification required and in case of Resident individual Chartered Accountant
certification required)

3. APR shall be based on the audited financial statements of the Foreign Entity.

Note: For FY ending prior to August 2022, Unaudited financials are accepted
only if the host country doesn’t mandate audit

For FY ending post August 2022, Unaudited financials are accepted only if
Indian Entity/Resident Individual doesn’t have control and host country doesn’t
mandate any audit

4. In case of un-audited financials, (for FY of the foreign entity ends before Aug
22,2022)

 Provide Certificate from SA Stating that ‘law of the host country does not
mandatorily require auditing of the books of accounts of FE and the figures
in the APR are as per the un-audited accounts of the foreign entity (In case
of resident individual CA certificate will required)

 Board resolution for adoption and ratification of un-audited financials of


the foreign entity (Self certification in case of resident individual)

5. Copy of Share certificates (should submit to AD bank within 6 months from the
date of remittance)

6. Documentary evidence if there is any repatriation from overseas company

7. NIC Code of Indian entity and overseas entity as per 2008 at 5 digit level along
with description

8. If there is any change in capital structure of the foreign entity following additional
details to be provided:

 Request letter-specifying reason for change in capital structure with pre


and post shareholding pattern. It should also specify the time period when
change in structure implemented - Shareholding pattern containing name
of parties involved, number of shares, percent stake and constitution
(Indian or Foreign)

 Documentary proof for change in structure


9. For SDS reporting following additional documents to be provided:

 SDS Investment proof such as Certificate of incorporation of SDS


 For SDS disinvestment, dissolution or any documentary proof for
disinvestment of stake of foreign entity in SDS
 CA/SA/CS certificate certifying the structure of SDS is in compliance with
the structural requirements of the foreign entity as provided in Rule 19(3)
of Foreign Exchange Management (Overseas Investment) Rules, 2022 and
Companies (Restriction on Number of Layers) Rules, 2017

Points to be noted by branch:

 Annexure ODI20 to be provided by branch(On ICICI bank letter head)


 AD certification to be done in APR Form
 Received Stamp and Signature Verification Stamp on Annexure ODI2

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