Can resident indian borrow money from his foreign friend (not NRI) ?
This query is : Resolved
CA Abhishek Singh
(Querist)
04 June 2023
one of my client is going through financial problem and one of his foreign friend ( citizen and resident of UAE) is ready to help him ?
amount is 40 lacs ?
my question is can he take 40 lacs in his account as loan from friend ?
if not then how can he take this amount ?
amount is 40 lacs ?
my question is can he take 40 lacs in his account as loan from friend ?
if not then how can he take this amount ?
CA R SEETHARAMAN
(Expert)
04 June 2023
See the link for more details.
https://www.fdi.finance/blog/borrowing-from-a-foreign-national-or-non-resident-indian/
https://www.fdi.finance/blog/borrowing-from-a-foreign-national-or-non-resident-indian/
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