Nri invest in private limited company

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Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2015 We (70 NRI's) are interested to setup animation studio in Bangalore along with one of our Bangalore friend. We are ready to invest Rs. 20 lakh each (70 * 20 = Rs. 14 Crore). Authorize capital would be Rs. 10 lakh. My Bangalore friend will own 50% shares and remain shares will be equal distribute with NRI 70 friends. How we can make this to work in new private limited company.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 July 2015 Not a problem your proposal will work for forming a private limited company.
New companies Act 2013 provisions allow you to have up to 200 share holders and one resident Director.