NRI registering company in India for trading

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 March 2011 Dear Sir,

Me and My friend both are NRI ( I am in USA and other in Canada), we used to do online trading in India when both of us where there. After moving abroad we are not suppossed to do and we are aware of trading Indian shares online for NRI.

Now we need to trade in Indian Shares and but our idea/question is different.

Our idea is to do this through by registering a company in India so that we can pool both of our money in one bucket and through the company we are planning to do it legally (if possible only)

1) My friend will be returning to India in 2014 and will run this in full fledge.
2) We need to start this process from this year so that by the time he is there , we continue with no halt.

We are aware of trading Indian shares online for NRI but need to know how we can register a company in India and trade through online either giving PoA or adding some India resident as partner. As of now we are not planning to borrow money from outside.

can you please suggest us what type of company we can register and form and can do this legally?

Can NRI register a company in India and how can an NRI register company in India and give PoA to do this or any other option?

Any help is really appreciated. Please reply.
Thanks,
RgdS
KGA

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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22 August 2011 Yes NRI can register a Company in India .

As regards your query lot of issues need to be deliberated before coming any conclusion.

Anuj
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femaquery@gmail.com