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 vestment approval of FIFP before that investment can be used for operations in India.
Following constitute as the objective of Foreign investment approvals in India:
The authority that deals with FIFP approval for telecom is obviously Department of Telecommunication. To appease this authority, you need to file the application and submit the following documents:
1. A detailed report of the telecom company.
2. A proposal highlighting your need for foreign investments and their justification
3. Copy of Board Resolution
4. Certificate of incorporation of your company
5. Telecom license agreement depending upon the type of DOT license you possess
6. AOA and MOA
7. Any of the following “conditional” documents:
a. Copy of agreement with the shareholder
b. Joint venture agreement
c. Agreement for transfer of technology
d. Trademark assignment document
e. Brand assignment document
The Foreign Investment Facilitation Portal Approval process for telecom is as follows:
8. 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 shall access your application and your documents as 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.
The ordeal of filing the online application doesn’t end with submitting the documents offline. There are several other steps that 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 the following assistance:
1. Application filing
3. Proper initial assessment
4. 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 in an instant.