Hello all,
i am planning to start a data processing firm with a friend of mine who happens to be a foreign national.
is there any change in the procedure of opening the firm or the provisions are the same, also does it matter if he basically resides in his country and rarely comes to india?
quick responses will be obliged
thanks,
Akshat
As per FEMA you are not allowed to enter into partnership with a foreign national without approval of RBI. Hence kindly either open a pvt. ltd. company or obtain approval of RBI.
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