26 July 2018
NRI can be a partner in a partnership firm . But the capital contribution has restrictions viz.,
• Investment on Non-repatriation basis:-
The amount must be invested by inward remittance or out of NRE/FCNR/NRO account. The business of the firm should not be in any agricultural/plantation or real estate or print media sector.
• Investment on repatriation basis:-
If the NRI makes any investment on repatriation basis, then he shall first obtain prior approval of the government.
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