Investor Facilitation Portal for Foreign Investment Approval-FIFP

Foreign Investment Facilitation Portal (FIFP) is an inter-ministerial body that acts as an authority establishing frameworks for FDI policies, FEMA regulations, and other 11 notified government bodies.

For companies that don’t qualify for automatic approval for foreign direct investment, FIFP approval is important. Telecom enterprises come under such a list of non-qualified candidates.

So, what’s the actual goal of the FIFP portal. Simply put, it’s to increase FDI in the country, but within the regulatory registrations and oversight of the government.

Thus, all the non-qualified companies required a foreign investment approval of investor facilitation portal before that investment could be used for operations in India. 

What is the objective of approval from investor facilitation portal?

The following constitute the objective of Foreign investment approvals in India:

• Enhancing FDI investments in India
• Creating transparency between several government departments about the FIFP approval process
• Promoting investment for activities of national and international companies that are under Non-Resident Indians.
• Digitizing the approval process so that no data can be falsified or hidden from government bodies.
• Informing all the investors about the volatile FDI policies that change with the evolving foreign investment options. 

Documents required for FIFP approval for telecom

The authority dealing with FIFP approval for Telecom is the Department of Telecommunication. To appease this authority, you need to file the application and submit the following documents:

• A detailed report of the telecom company.
• A proposal highlighting your need for foreign investments and their justification
• Copy of Board Resolution
• Certificate of Incorporation of your company
• Telecom license agreement depending upon the type of DoT license you possess
• AOA and MOA
•  Any of the following “conditional” documents:

1. 1. Copy of agreement with the shareholder
   2. Joint venture agreement
   3. Agreement for transfer of technology
   4. Trademark assignment document
   5. Brand assignment document

Procedure for FIFP approval for Telecom

The Foreign Investor Facilitation Portal Approval process for Telecom is as follows:

• Go to the FIFP web portal
• Enter your credentials. Make sure that they are free of errors and are valid.
• Get the FIFP Login credentials
• Log in to the FIFP portal
• Select the industry you, as an applicant, belong to. In this case, it would be Telecom.
• Enter the relevant details
• Submit the application

Within 10 days of filing the online application, submit the physical copy of it along with the supporting documents to the Department of Telecommunication,

The DOT will access your application and documents per the FIFP regulations. If there are any discrepancies, you shall be informed. If they aren’t, you’ll be given the FIFP registration certificate.

Monitoring & Review

• The Department of Telecommunications will hold a regular monthly review of the pending foreign investment proposals.
• The Secretary, DPIIT, will convene regular review meetings on the pendency of FDI proposals with the DoT every four to six weeks. The Secretary will also attend the meeting.
• The DoT must update the information regarding the date of the physical receipt of the application and the decisions taken on the portal.
• The DoT must furnish a fortnightly report on pending proposals. It must maintain an updated database of all proposals dealt with by them.

Get Assistance from FIFP consultant

The ordeal of filing the online application doesn’t end with submitting the documents offline. Several other steps only reveal themselves after you’ve started the process. That’s why it’s always better to have an FIFP consultant to assist. Registrationwala, as a team, provides you complete assistance as India’s premiere consultant for foreign investment for Telecom. In addition to taking care of the additional steps, our experts provide you with the following assistance:

• Application filing
• Documentation
• Proper initial assessment
• Department follow-up

Thus, if you want to get FIFP approval without stressing about it, you should contact Registrationwala. Our chat lines are always open. All you need to do is type your query, and we will get back to you instantly.