Sir, first of all hello after a long time we are interacting. Here i have a query. Sir/Madam plz let me know what should an individual who is residing abroad do to enter into partnership with any person in india for running a business in india. What formalities he has to complete. Whether any type of funds repretriantion restrictions for all type of businesses. Plz take the trouble to reply soon.
jaindeepak
jainbros_1977 @ sify.com
A non resident can enter partnership with indian citizen. He can invest the funds in firm. Profit earned shall be eligible for repatriation outside india without the permission of RBI. However capital can be repatriated subject to the prior permission of RBI. In addition to that the firm should not be engaged in the business of Plantation, agriculture or print media.
Regards
Vkshah
CAclubindia
