A Swiss investor in an Indian company must follow the Foreign Exchange Management (Non-Debt Instruments) Rules 2019 and the FDI policy. Shares are issued within sixty days of receiving funds and reported on the RBI FIRMS portal in Form FC-GPR within thirty days of issue. Transfers between Swiss and Indian holders are reported in Form FC-TRS. The Indian company files the annual return on foreign liabilities and assets each year. External commercial borrowings from the Swiss parent have their own rules.
- Document route
- Swiss notary, then apostille from the cantonal State Chancellery
- Time difference
- India is 3h30 (summer) to 4h30 (winter) ahead
- Law
- FEMA 1999 and NDI Rules 2019
- New shares
- FC-GPR within 30 days of allotment
FDI & FEMA Compliance from Switzerland: how it works
We review the sector cap and entry route, pricing guidelines (fair value based on internationally accepted methods), and whether the Swiss investor is beneficially owned from a land-border country, which would require government approval under Press Note 3. Before funds are sent we prepare the board resolution in India and the subscription documents. The Swiss parent transfers money through banking channels, and the Indian bank issues the foreign inward remittance certificate and KYC. We then issue shares and file the FC-GPR with valuation certificate and company secretary certificate.
Ongoing compliance includes the annual FLA return, downstream investment reporting if the Indian company invests further, and FC-TRS on any share transfers. Loans from Switzerland must meet ECB conditions on end use, all-in cost and maturity, and be reported monthly. If filings were missed, we prepare a compounding application or late submission fee request, which the RBI processes under its compounding framework. Clean FEMA records matter when the Swiss group later sells or restructures.
What clients in Switzerland should know
- Swiss holding structures should be checked for ultimate beneficial owners in land-border countries before investing, as Press Note 3 looks through to beneficial ownership.
- Royalty and technical fees paid to Switzerland are taxed in India at treaty rates and need Form 15CA and 15CB before remittance.
- Swiss investors exiting India must follow pricing rules on sale to residents, or the transfer cannot be reported cleanly.
Step by step from Switzerland
Video consultation
A call at a time that suits Switzerland, after we have read your documents.
Documents signed in Switzerland
Swiss notary, then apostille from the cantonal State Chancellery
Work in India
Our team files, appears and follows up in India, and shares scans of everything filed.
Result and handover
Certified copies and originals are couriered to you in Switzerland where needed.
The full guide
This page covers what changes when you are in Switzerland. For the law, the documents and the step-by-step procedure, read our main page on FDI & FEMA Compliance, or see all services for clients in Switzerland and the Doing Business in India practice area.
Questions from clients in Switzerland
What if FC-GPR was filed late?
The RBI allows late submission with a fee in many cases. We assess the delay and file accordingly.
Do Swiss nationals need approval to invest in an Indian startup?
Usually not, unless the sector requires it or beneficial owners are in a land-border country.
Can a Swiss parent lend money to its Indian subsidiary?
Yes, as an external commercial borrowing, following RBI conditions and reporting.