Setting up of firm/company

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Proprietor
70 Points Joined January 2012

Hi, We are 3 friends who wants to start a BPO biz in India. I am Indian while the other two are PIO with UK citizenship. My Q is following:

1) Can we set up partnerhsip firm? What is better, partnership or LLP or Pvt limited ?

2) Can the firm/Co repatriate partners share of profit to UK ?

Thanks

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On 04 April 2013 at 18:37 Report
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Practicing CA
1889 Points Joined April 2012

Yes,

All of 3 can start any of the constitution that you want. Be it Private Limited Company/ Partnership/ LLP.

The relavant provision needs to be complied.

The choice of constitution depends on your choice.

Private Limited is better for corporate image.

Partnership firm is better for simple and cost effective solutions.

LLP is middle way for both.

Profit repartriation and sharing for foreign national person depends on sharing ratio and other relavent details .

 

Regards

 

1 Reply
On 05 April 2013 at 20:04


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