Hello, i have to find this information on urgent basis please help me. Suppose a foreigner e.g a korean person wants to open an overseas recruitment consultancy in India , then does he need to do it with an Indian partner and share profits or he can solely open n own the profits? I mean he cant take the profit of his business unless he does the business with indian partner sharing profits with him? What does Indian law say about this? Please give me confirm information.
From India, Mumbai
2From India, Mumbai
Hi,
A foreigner does NOT need an Indian partner.
As long as ALL taxes are paid, any profits can be repatriated to the parent company.overseas.
However, an Indian partner is usually required to ensure the business is, on a day to day basis, running smoothly, without the foreigner having to make numerous trips to India. An Indian partner should have invested some monies in the business; this will ensure that the Indian partner has a vested interest in the success of the business.This is a purely a commercial and logistical issue and entirely separate from profits.
Repatriation of profits is also governed by the exchange rate, sometimes it might be more prudent to retain the profits in India.
It is essential that the partnership agreement is watertight, I therefore, urge you to seek professional legal assistance in this matter.
I hope the above helps.
Regards,
Harsh
From United Kingdom, Barrow
A foreigner does NOT need an Indian partner.
As long as ALL taxes are paid, any profits can be repatriated to the parent company.overseas.
However, an Indian partner is usually required to ensure the business is, on a day to day basis, running smoothly, without the foreigner having to make numerous trips to India. An Indian partner should have invested some monies in the business; this will ensure that the Indian partner has a vested interest in the success of the business.This is a purely a commercial and logistical issue and entirely separate from profits.
Repatriation of profits is also governed by the exchange rate, sometimes it might be more prudent to retain the profits in India.
It is essential that the partnership agreement is watertight, I therefore, urge you to seek professional legal assistance in this matter.
I hope the above helps.
Regards,
Harsh
From United Kingdom, Barrow
Swati U have asked a book of answers question.any way -He can run solely as "Foreign Company", without indian partner also. -For taxation some procedures has to followed.
From India, Chennai
From India, Chennai
Hi
We are now collaborating with a Sri Lankan company. A foreign company can do business on its own with its set of directors. From an operation standpoint an Indian is required because knowledge of how things work in India can be best understood and actions taken appropriately. If you are an indian partner appropriate discussion need to be done and agreed upon in terms of responsibility, profit sharing, decision making etc
From India, Madras
We are now collaborating with a Sri Lankan company. A foreign company can do business on its own with its set of directors. From an operation standpoint an Indian is required because knowledge of how things work in India can be best understood and actions taken appropriately. If you are an indian partner appropriate discussion need to be done and agreed upon in terms of responsibility, profit sharing, decision making etc
From India, Madras
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