Nri investments in india

Vidya K (Querist) 17 June 2016 This query is : Resolved
Hello,

An NRI is permitted to invest in properties in India. But as per the FDI policy, he cannot invest in a partnership firm which engages in real estate. why is this so?

What if the NRI utilizes the funds already available in India for investing in such Partnership firm? and does not bring in any new foreign fund.

An LLP does not have any such restrictions, is that right?

Kindly guide

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DR.VEDULA GOPINATH (Expert) 17 June 2016
Ms.Vidya

NRI can invest his/her Indian friends in a partnership firm.

If he wants to invest in a real estate business by way of remittance from abroad, there are certain restrictions imposed by RBI.

If an Indian origin person utilises his Indian rupee funds in India for any business, i do not think there is any objection.

cs dr vedula gopinath
advocate/arbitrator

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