Partnership Business Can start India (two partners one is Indian and OCI both are wife and Husband)
This query is : Resolved
15 November 2024
Sir/Mam,
New Partnership business Can Indian citizen and Overseas Citizen of India (OCI) (Wife and Husband) form a partnership firm in India
Please clarify my doubt, It is possible what are required documents to start business in India
Thanking you,
New Partnership business Can Indian citizen and Overseas Citizen of India (OCI) (Wife and Husband) form a partnership firm in India
Please clarify my doubt, It is possible what are required documents to start business in India
Thanking you,
15 November 2024
Yes, Overseas Citizens of India (OCI) can be partners in a partnership firm in India, OCI holders are treated as non-resident Indians (NRIs) for the purpose of partnership. To become a partner, an OCI must:
File an application with the Registrar of Firms in the state where the partnership firm is situated.
Get a Permanent Account Number (PAN) from the Income Tax Department.
Adhere to the Foreign Exchange Management Act (FEMA) guidelines for investment and remittance.
Execute a partnership deed that complies with the Partnership Act, 1932.
File an application with the Registrar of Firms in the state where the partnership firm is situated.
Get a Permanent Account Number (PAN) from the Income Tax Department.
Adhere to the Foreign Exchange Management Act (FEMA) guidelines for investment and remittance.
Execute a partnership deed that complies with the Partnership Act, 1932.
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16 November 2024
Thank you sir for your quick reply, in case both are OCI then also they can start partnership firm in india please clarify my doubt sir
16 November 2024
At least one resident Indian partner is required for a non-resident Indian partnership firm.
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