Possibilities of Foreign Funds with FCRA Registration

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Possibilities of Foreign Funds with FCRA
Registration
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Maintain your NGO's resources with fcra
registration that facilitate foreign
contributions, find affordable logo registration
services with the easy process of online company
registration as well as copyright registration
and trademark registration services to make sure
for securing your service mark and original
invention.
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fcra registration, logo registration, online
company registration, copyright registration,
trademark registration
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FCRA is an act that came in force in May 2011
with an objective to regulate the utilization of
foreign aid by certain persons or associations so
that the aided organizations could work in
consonance with the principals of a democratic
republic. Foreign contribution means the
donation, delivery or transfer made by any
foreign source. fcra registration 1) Of any
article, not being an article given to a person
as a gift for his personal use, if the market
value, in India, of such article, on the date of
such gift, is not more than such sum as may be
specified from time to time, by the Central
Government by the rules made by it in this
behalf trademark registration 2) Of any
currency, whether Indian or foreign 3) Of any
security as defined in clause (h) of section 2 of
the Securities Contracts (Regulation) Act, 1956
and includes any foreign security as defined in
clause (o) of section 2 of the Foreign Exchange
Management Act, 1999. Organizations may seek
foreign contribution for definite cultural,
social, economic, educational or religious
programs either after registering themselves or
after obtaining prior permission from ministry of
Home affairs. logo registration
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Prior Permission Application for getting prior
permission or receiving foreign contribution may
be made to Ministry of Home Affairs in the
prescribed form FC-1A. Along with the application
form, a commitment letter from the donor foreign
source is also mandatory to be submitted after
receipt of the application, the same is processed
by MHA. Generally, associations which are new or
are in informative stage but are caring
programmes in the cultural, social, educational,
economic and religious fields are granted prior
permission. Such associations are required to
produce annual returns in context of utilization
of foreign contribution to MHA in FC-3 form duly
certified by chartered accountant. online company
registration Registration and Process Any
person or association may apply for obtaining
grant of registration to receive foreign
contribution to Ministry of Home Affairs in the
FC-8 Form. Then, on receipt of the application,
it is processed by MHA according to the
provisions of the Act. Generally, registration is
granted to such associations or persons who are
carrying genuine work in their chosen field of
work. Associations verification certificates are
submitted in the prescribed format get
registrations within a fortnight of submission of
application. After the grant of registration, the
association can receive funds from any foreign
source but it has to furnish its utilization
details to ministry of Home affairs. Generally
registration applications are processed within
six months of the receipt of application.
copyright registration Any organization having a
definite cultural/ social/ educational/
religious/ economic object shall only accept
foreign contribution after satisfying two
conditions (i) It must register itself with the
Central Government. (ii) It must agree to
receive foreign contribution only through one
specific bank account.