I have the following query any body can give me the solution.
One of my NRI client wants to start the business in India on repatriation basis as a partner in Partnership firm, for that he may need to get the RBI prior approval to start the business here, if so what is the procedure to get the RBI approval and what are the other compliance's to be fulfilled by him before he starts the business
Guest
Guest
(Expert)
02 February 2016
NRI can invest as Partner in Indian company. But to check if there is any RBI approval required, an FDI regulations check need to be done with respect to nature of business, quantum of investment, country of residence of NRI. For example, for Agri business, FDI is not allowed. If NRI is resident in China, immovable property cannot be purchased - like that so many restrictions are there. To give you specific answer you have to provide quantum of investment, nature of business, residence of NRI, etc
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