Airoli Estates 28 February 2019
hello, iam Vivek. my query is.
I own a plot of land in Goa, and planning to construct a small building with two, 2bhk and a roof top restaurant. as I own the land my friend a US citizen (not Indian), wants to invest in construction, on a 45:55 ratio. we both will get a 2bhk, and I will get the restaurant.
1. is it possible for a non Indian to invest in such a project?
2. what are key aspects that I need to be careful, when getting into such a partnership.
Suhail suhail (LAWYER) 28 February 2019
The partners should be indian citizen to creat a partnership firm under indian partnetship act.
However you can do bussiness under LLP (Limited laiblity partnesrship) with your foreigner .
The funds are also freely regulated.
Step 1- Apply for your Partners DIN
Step 2- Apply for your Partners DSC
Step 3- Application to Government for Name Availability of the proposed LLP
Step 4- Verification of Documents and Forms by Government.
Step 5- Filing of Incorporation Documents and Forms by Government.
Step 6- Certificate of Incorporation
Step 7- Drafting of LLP Agreement
Step 8- Filing of LLP Agreement
Documents; Your IDS,ADRESS PROOF FOR OFFICE,
Ownership of property ;PAN CARDS etc.
Shashi Dhara 28 February 2019
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