Dear Members,
We want to incorporate a company which will deal in foreign exchange and tours and travel business.
Will this attract the regulations under FEMA to be complied with RBI?? if yes then wat is the procedure for the same..
will it make any difference if a private company is incorporated???
regards,
Dear Shilpa,
First of all u ll have to decide the main object of the company whether dealing in forex or tour n travel. if the main object of the company is dealing in forex and expected profit is more than 50% from this business out of over all profit of the company, in that case you will have to form NBFC which requires RBI approval. otherwise you may incorporate a simple public company and run both the business.
As far as object of the company is concerned there s no difference between private and public company.
Regards
CCI
Pro
CAclubindia
