what is the procedure for obtaining registration certificate under FCRA by a society registered under Societies Registration Act. and opening bank account specifically for receiving Contributions from foreign? Thanks..!
Be registered under the Societies Registration Act, 1860 or the Indian Trusts Act, 1882 or registered as Section 8 Company as per the Companies Act, 2013 or any such Act as may be required.
Submit a specific commitment letter from the donor to the Ministry of Home Affairs which indicates:-
– Amount of contribution given
– Purpose for which it is proposed to be given
Where the Indian recipient organization and foreign donor organization have common members, the following conditions need to be met:-
– The Chief Functionary of the Indian organization can’t be part of the donor organization.
– At least 51% of the members/office-bearers of the governing body of the Indian recipient organization should not be employees/members of the foreign donor organization.
– Where the foreign donor is an individual:
1. He cannot be the Chief Functionary of the Indian organization.
2. At least 51% office bearers/members of the governing body of the recipient organization should not be the family members and close relatives of the donor.