Airoli Estates 28 February 2019

Foreign investor

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.

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2 Replies

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

First both of u invest why do u think about future..if any complications arises go and meeteminent advocate. Hewill surely guide u.why advocates and court is there .give some work to them.they r today becoming lazy and idle. They tell compromise.no advocate or client shud compromise. They shud fight for justice .