Starting an it company with an nri as a partner

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Ankit Khatri (Querist)

24 April 2013 Hello Everyone.
I am about to start a firm which will be a typical It outsourcing firm based in India with most of the clients in the US.

I am confused whether i should go for an LLp or a Pvt limited company.?

The conditions are:
1) I have a partner who is an NRI. he is residing in the US , he holds the green card in the US but not the permanent citizenship of US
2) All the initial investment would come from the NRI
3) the guy has an Indian PAN Card and also an Indian Passport

What is the best way of doing so?
Since, I am not sure but will this be a kind of FDI ?
So, what are the pros and cons of getting an LLP or Pvt ltd Comapny?
What should be the steps?

Thanks in advance.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)

19 May 2013 You form a Pvt. Ltd company and your US partner should have the DIN number for this purpose. You allot the sares and do the business but when money comes in India it should be through proper channel with due intimation to RBI

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