Hi,
I am a founder/shareholder/director & managing director of 2 pvt. ltd. companiese in India. In july I got my residents visa for Japan as I wanted to start a company there too, but to avoid the complicacy of RBI to open an overseas branch I register a new company there as a Japanese company in Sept.2011.
Now my queries are as follows:
1. Do I have to declare myself as an NRI to ROC/MCA/Income Tax? if yes can this declaration wait for 3 more years as I will have a permanent residency there after 3 years?
2. What shall I do with my existing bank accounts (1 Joint account with my wife (who is a PIO) and others single)?
3. Shall I continue pay the installments of the property I bought in joint name with my wife (I have already paid half of the amount and more half to go) ? What if I decide to sell this property?
4. Can I have an NRE account which is 100% repatriablity? Can I maintain both NRE account and resident's account simuntaniously?
5. Can I continue to hold the post of Director/ Managing Director or shareholder in the Indian Companiese?
Thank you in advance and sorry for the complicated queries.
Regards,
JC
CAclubindia
