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Nri wants to start a real estate business
Mr. X is an NRI. he wants to purchase land in various places and start real estate business in India.
for the above purposes, he will bring his own capital and also borrow money from his relatives and friends (all resident Indians).
Whether the above transaction will be in order under FEMAct.
Replies (1)
if money is coming from foreign land FEMA will be applicable
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