capital contribution by NRI partners
This query is : Resolved
AMIN M KESHWANI
(Querist)
17 July 2010
Hi,
A partnership deed is formed and duly notarised in july,2010 having 4 partners, all of indian origin.
Out of the above, 2 partners are NRI.
I want to take import export license as they will be manufacturing and exporting AC parts.
Do i have to obtain RBI's permission for NRI partners before applying for IEC code?
OR is there a general permission given by RBI for the same.
Regards
Amin Keshwani
A partnership deed is formed and duly notarised in july,2010 having 4 partners, all of indian origin.
Out of the above, 2 partners are NRI.
I want to take import export license as they will be manufacturing and exporting AC parts.
Do i have to obtain RBI's permission for NRI partners before applying for IEC code?
OR is there a general permission given by RBI for the same.
Regards
Amin Keshwani
RAMESH KUMAR VERMA
(Expert)
20 July 2010
DEAR KESHWANI JI,
AS PER FOREIGN TRADE POLICY 2009-2014, AT THE TIME OF FILLUP ANF-2A, COLUMN NO. 5,IS MENTIONED THAT
"In case of NRI interest/holding with repatriation benefits in the firm/company, please furnish"
RBI PERMISSION NO. AND DATE IS MANDATORY IN THE ABOVE SAID CONDITION.
REGARDS,
AS PER FOREIGN TRADE POLICY 2009-2014, AT THE TIME OF FILLUP ANF-2A, COLUMN NO. 5,IS MENTIONED THAT
"In case of NRI interest/holding with repatriation benefits in the firm/company, please furnish"
RBI PERMISSION NO. AND DATE IS MANDATORY IN THE ABOVE SAID CONDITION.
REGARDS,
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