Partnership firm with foreign company
This query is : Resolved
Basant Jajoo
(Querist)
27 February 2014
Can a partnership firm be formed with one Indian partner & other partner as Foreign company (with major share)
Sandeep Dharar
(Expert)
27 February 2014
yes it can form, with a foreign member.
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Basant Jajoo
(Querist)
27 February 2014
Thanks Sandeep for your reply.
Nikhil Kaushik
(Expert)
02 March 2014
only by approval of RBI.
Please refer FDI policy of Indian government Point 3.2.2 (iii)Investment by non-residents other than NRIs/PIO:
A person resident outside India other than NRIs/PIO may make an application and seek prior approval of Reserve Bank for making investment in the capital of a firm or a proprietorship concern or any association of persons in India. The application will be decided in consultation with the Government of India.
the full text of the policy can be viewed at https://dipp.nic.in/English/Policies/FDI_Circular_01_2013.pdf
Please refer FDI policy of Indian government Point 3.2.2 (iii)Investment by non-residents other than NRIs/PIO:
A person resident outside India other than NRIs/PIO may make an application and seek prior approval of Reserve Bank for making investment in the capital of a firm or a proprietorship concern or any association of persons in India. The application will be decided in consultation with the Government of India.
the full text of the policy can be viewed at https://dipp.nic.in/English/Policies/FDI_Circular_01_2013.pdf
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Basant Jajoo
(Querist)
03 March 2014
Thanks Nikhil for your valuable response.
What if the industry falls in Automatic Route allowed by RBI. In that case, I guess, its not required to be approved by the Government.
What is your suggestion in this regard??
What if the industry falls in Automatic Route allowed by RBI. In that case, I guess, its not required to be approved by the Government.
What is your suggestion in this regard??
Nikhil Kaushik
(Expert)
03 March 2014
it is not industry that is relevant here...
it is the nature of the investee that is relevant here. if you wnat to invest in a partnership firm, you need to seek prior approval.
it is the nature of the investee that is relevant here. if you wnat to invest in a partnership firm, you need to seek prior approval.
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Basant Jajoo
(Querist)
03 March 2014
Thanks a lot Sir. Will get back to you after referring to the Policy.
Nikhil Kaushik
(Expert)
03 March 2014
it is not industry that is relevant here...
it is the nature of the investee that is relevant here. if you wnat to invest in a partnership firm, you need to seek prior approval.
it is the nature of the investee that is relevant here. if you wnat to invest in a partnership firm, you need to seek prior approval.
Nikhil Kaushik
(Expert)
03 March 2014
you are welcome Basant..
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