SENTHIL SELVENDRAN (chartered accountant) (201 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 FDI/FIPB & FCRA)
(7024 Points)
Replied 04 November 2012
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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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CAclubindia
