Partnership
This query is : Resolved
Vignesh Jayaprakaash
(Querist)
25 July 2018
Can NRI become a partner in an indian partneship firm? Is there any regulations to be followed before such constitution of the firm?
26 July 2018
NRI can be a partner in a partnership firm . But the capital contribution has
restrictions viz.,
• Investment on Non-repatriation basis:-
The amount must be invested by inward remittance or out of NRE/FCNR/NRO
account. The business of the firm should not be in any agricultural/plantation or
real estate or print media sector.
• Investment on repatriation basis:-
If the NRI makes any investment on repatriation basis, then he shall first obtain
prior approval of the government.
restrictions viz.,
• Investment on Non-repatriation basis:-
The amount must be invested by inward remittance or out of NRE/FCNR/NRO
account. The business of the firm should not be in any agricultural/plantation or
real estate or print media sector.
• Investment on repatriation basis:-
If the NRI makes any investment on repatriation basis, then he shall first obtain
prior approval of the government.
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