NRI partner in warehouse
This query is : Resolved
14 October 2022
Can an NRI become a partner of a firm providing warehousing services to Food Corporation of India? Warehousing services include fumigation and other serivces for storage of food grains etc. This NRI has citizenship in UK, but staying more than 180 days in India. Can he invest in the partnership firm? Will FEMA provisions be applicable in this case?
CA R SEETHARAMAN
(Expert)
14 October 2022
Yes, a NRI can become partner in indian partnership act. There is no restriction on addmission of a NRI as a partner in indian partnership. Please refer to Master Circular no. 2/2009-10 of RBI on foreign investment made by a NRI in a partnership firm.
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