What is the difference between Form FC and the Annual Performance Report?

Form FC reports the overseas investment at the time it is made and obtains a Unique Identification Number for the foreign entity. The Annual Performance Report is filed every year afterwards to report the foreign entity's financial performance for as long as the investment is held.

How is the reporting submitted to the RBI?

Overseas investment reporting is routed through the Indian party's designated authorised dealer bank, which forwards the filing to the Reserve Bank. The investment is made and reported under the Overseas Investment Rules and Regulations of 2022.

Who needs to file ODI reporting?

Any Indian party that makes a direct investment in a foreign entity — typically acquiring equity or a controlling interest — must report it and file the Annual Performance Report each year while the investment is held.

Compliance

ODI Filing

File Overseas Direct Investment reporting for an Indian entity investing in a foreign entity.

What's covered

Overseas Direct Investment filing is the reporting an Indian party makes to the Reserve Bank when it invests in the equity or controlling interest of a foreign entity.
The investment and its terms are reported to the RBI through the designated authorised dealer bank using the prescribed Form FC at the time the investment is made.
After the investment, the Indian party must file an Annual Performance Report (APR) for each foreign entity for as long as the overseas investment is held, reporting its financial position.
The framework distinguishes Overseas Direct Investment, which carries control or strategic interest, from Overseas Portfolio Investment, and applies the limits and conditions set under India's overseas investment rules.

How we work

01
Assess the route and financial commitment
Determine whether the proposed investment qualifies as Overseas Direct Investment under the automatic route and confirm it is within the permitted financial commitment limits for the Indian party.
02
Report the investment through the AD bank
Route the remittance and the initial reporting (Form FC) through the designated authorised dealer bank, which forwards the filing to the Reserve Bank and issues a Unique Identification Number for the foreign entity.
03
File the Annual Performance Report
File the Annual Performance Report for each foreign entity every year, drawing on its audited financial statements, for as long as the overseas investment is held.

Documents required

Board resolution approving the overseas investment
Valuation of the foreign entity's shares where required
Form FC details and the authorised dealer bank's reference
Audited financial statements of the foreign entity for the Annual Performance Report
Foreign inward / outward remittance evidence for the investment

Applicable laws & forms

Foreign Exchange Management Act 1999 — governs outbound investment by Indian parties
Foreign Exchange Management (Overseas Investment) Rules and Regulations 2022 — define Overseas Direct Investment, limits and reporting
RBI reporting requirements — Form FC at the time of investment and the Annual Performance Report each year, filed through the authorised dealer bank