Can a foreign national be a partner in partnership firm?

Yes, an NRI can become a partner in Indian partnership firm and he further can contribute to the capital of the firm subject to certain conditions. For any NRI to become a partner in a partnership firm there is no restriction, however, the law restricts the foreign investment by NRI by way of capital to the firm.

Can NRI be part of LLP in India?

Foreign investment in India is governed by the foreign direct investment (FDI) policy of India. NRIs can invest in an LLP which is engaged in a business activity where 100\% foreign investment is allowed under the automatic route without any investment-linked performance conditions.

Can an LLP have foreign investors?

FDI in LLPs is permitted, subject to the following conditions: An Indian company or an LLP, having foreign investment, will be permitted to make downstream investment in another company or LLP engaged in sectors in which 100\% FDI is allowed under the automatic route and there are no FDI linked performance conditions.

Can LLP borrow money from NRI?

Resident of India can only borrow money in Indian rupees from NRIs. The conditions under which he/she can borrow are: Borrowing shall be only on a non-repatriation basis. This means that funds once given cannot be taken back.

Can LLP take loan from foreign?

The erstwhile framework defined ‘Indian entity’ as a company or a body corporate or a firm in India. But now, as there is no exhaustive list and ‘all entities who are eligible to receive FDI’ are regarded as eligible borrowers, an LLP can now borrow ECB, if it is eligible to receive FDI.

Can LLP take loan from foreign company?

Can LLP invest outside India?

Henceforth, LLPs can invest overseas under the automatic route or with approval as the case may be. Allowing LLPs to invest abroad by removing the distinction between companies and LLPs is a welcome move by the RBI.

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