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Please someone reply to this (Really Imp).Can an OCI holder start a company?

Please someone reply to this (Really Imp).Can an OCI holder start a company?

Old Jul 13th 2013, 7:46 am
  #1  
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Thumbs down Please someone reply to this (Really Imp).Can an OCI holder start a company?

My friend has an oci and a foreign passport and nationality. He is born in India though.

1. Can he start a trading company in India (Import Export)?
2. Will the process and all for him be treated as Indian nationals or foreigners?
3. And can he add a foreigner as a partner later in it?
4. And which firm should he start? (Partnership firm/Private ltd/LPP or so) I want both to have equal status in the eyes of law and that none's personal properties to be affected anyhow later or any family member's asset. Just the firm to close down incase anything goes wrong and the loss to be paid from the firm itself.
5. Can i register the firm on the name and address of the company's office itself? If place rented it's still possible? (I don't want to submit any of my personal documents or property documents)
6. And does the firm need a pan card in it's own name? Since i don't want my personal pan card alone to be submitted.
7. And is there tax to be paid for such a business? If so, how many times a year? And incase if you know how much percentage it is to be paid.

Please answer atleast a single question if you don't know the rest.

Thank you.
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Old Jul 13th 2013, 8:03 am
  #2  
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Default Re: Please someone reply to this (Really Imp).Can an OCI holder start a company?

Originally Posted by donali719 View Post
My friend has an oci and a foreign passport and nationality. He is born in India though.

1. Can he start a trading company in India (Import Export)?
2. Will the process and all for him be treated as Indian nationals or foreigners?
3. And can he add a foreigner as a partner later in it?
4. And which firm should he start? (Partnership firm/Private ltd/LPP or so) I want both to have equal status in the eyes of law and that none's personal properties to be affected anyhow later or any family member's asset. Just the firm to close down incase anything goes wrong and the loss to be paid from the firm itself.
5. Can i register the firm on the name and address of the company's office itself? If place rented it's still possible? (I don't want to submit any of my personal documents or property documents)
6. And does the firm need a pan card in it's own name? Since i don't want my personal pan card alone to be submitted.
7. And is there tax to be paid for such a business? If so, how many times a year? And incase if you know how much percentage it is to be paid.

Please answer atleast a single question if you don't know the rest.

Thank you.
This really isn't the right place to be asking - its a forum aimed at helping British Expats who are moving, or have moved, abroad.

In addition you have posted in The Lounge, an area for chat and relaxation. I'll move your post into our Indian forum, but I still don't know that you will get the answers you need. There are probably a lot of better forums out there for this area of knowledge.
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Old Jul 13th 2013, 8:06 am
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Default Re: Please someone reply to this (Really Imp).Can an OCI holder start a company?

Hi there and welcome to British Expats.

Unfortunately The BE Lounge is not the place for these questions as it a place for general chat and relaxing.

So, I am moving this to the India forum for now.
It may be that this isn't quite the place for it either.

What is your country of residence at present?
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Old Jul 13th 2013, 8:10 am
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Default Re: Please someone reply to this (Really Imp).Can an OCI holder start a company?

India itself. And sorry i dint know where to post this.
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Old Jul 13th 2013, 7:05 pm
  #5  
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Default Re: Please someone reply to this (Really Imp).Can an OCI holder start a company?

Originally Posted by donali719 View Post
India itself. And sorry i dint know where to post this.
No worries, one of the moderators has moved your thread to the India forum for you.

I can't help with your query but I"m sure someone who lives in India will be along soon to share their experiences.

Welcome to BE!!
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Old Jul 14th 2013, 6:36 am
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Default Re: Please someone reply to this (Really Imp).Can an OCI holder start a company?

thank you
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Old Jul 14th 2013, 7:16 am
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Default Re: Please someone reply to this (Really Imp).Can an OCI holder start a company?

Originally Posted by donali719 View Post
My friend has an oci and a foreign passport and nationality. He is born in India though.

1. Can he start a trading company in India (Import Export)?
2. Will the process and all for him be treated as Indian nationals or foreigners?
3. And can he add a foreigner as a partner later in it?
4. And which firm should he start? (Partnership firm/Private ltd/LPP or so) I want both to have equal status in the eyes of law and that none's personal properties to be affected anyhow later or any family member's asset. Just the firm to close down incase anything goes wrong and the loss to be paid from the firm itself.
5. Can i register the firm on the name and address of the company's office itself? If place rented it's still possible? (I don't want to submit any of my personal documents or property documents)
6. And does the firm need a pan card in it's own name? Since i don't want my personal pan card alone to be submitted.
7. And is there tax to be paid for such a business? If so, how many times a year? And incase if you know how much percentage it is to be paid.

Please answer atleast a single question if you don't know the rest.

Thank you.
Good Morning and welcome to BE India.
I am sorry that I can't personally help with your query but I"m sure someone who lives in India will be along and share their experiences with you.
Good Luck.
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