Dear collegues
In LLP there are 3 partners, 2 of them are foreigners they are investing in a international school in india. They are making profit. Here the 2 foreigners can repatriate their profit to their own country? Kindly clarify with me.
SENTHIL SELVENDRAN (chartered accountant) (202 Points)
11 February 2012Dear collegues
In LLP there are 3 partners, 2 of them are foreigners they are investing in a international school in india. They are making profit. Here the 2 foreigners can repatriate their profit to their own country? Kindly clarify with me.
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FD)
(7024 Points)
Replied 04 November 2012
Hi Senthil,
Indian LLP cannot have a Foreign Partner unless the same is approved by FIPB. Also no FDI or foreign participation is allowed in the education sector(till date)
Anuj femaquery @ gmail.com
Originally posted by : senthil s |
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Dear collegues In LLP there are 3 partners, 2 of them are foreigners they are investing in a international school in india. They are making profit. Here the 2 foreigners can repatriate their profit to their own country? Kindly clarify with me. |
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