FCRA Registration

FCRA is a short form of Foreign Contribution Regulation Act that regulates and controls the foreign contributions taking place in India. The primary objective of FCRA Registration Online in India is to decriminalise the receipt of any foreign contribution by domestic organisations and for assuring the proper utilization of the funds for the assigned purpose.

Following is the minimum requirement needed to complete the FCRA Registration

Listed below are the key requirement needed for FCRA Registration process and basically, it completely depends upon the type of registration such as:

A) Responsibilities For Proper FCRA Registration:

The applicant should own a registered company which is operating for more than 5 years. The entity of the applicant must have spent a minimum of Rs.10 Lakhs in the last three years for the accomplishment of its main objectives for which the company was registered that excludes the expenses made for administrative purposes. The previous three years financial statement shall be submitted by an applicant, importantly, the financial statement must be audited by a qualified chartered accountant is mandatory.

B) The Obligation For Prior Licence FCRA Registration:

In case, a newly registered company is willing to receive contributions or funds or grants from  foreign countries then it should apply for prior permission While applying for the prior permission, it should submit the prescribed details about the foreign owner or investors or donators who is contributing the fund to the entity The fund which is received should be utilized only for the prescribed purpose

Checklist for applying for FCRA Registration

Following are the eligible companies which can apply for FCRA registration:

• Trust registered governed by the Indian Trust Act
• Societies registered governed by the Indian Society Registration Act
• Section-8 companies incorporated governed by the  Companies Act
• The applicant must obtain the registered certificate as NPO set up having charitable aims and objectives for serving the society and the locality by promoting the health, economic development, education, promotion of art, religion, culture, sports and so on in that society
• The entity must not be forbidden in any form under the provision of the Foreign Contribution (Regulation) Act.
• Foreign contribution or funds accepted shall not threaten the life or safety of the public or receiver or should not lead to any illegal matter or offence.