I am trying to start up a small investment firm.
1. Collect money from client in small amount (Rs 5000)
2. Invest it and make profit.
3. Provide 5% plus initial investment after a month. Say for example, Rs 10000 client gets 10500 after a month.
What type of contract should I need to make me legally secure?
1. FIRSTLY obtain license from RBI and state Money Lending license authority, for even thinking of starting such investment business. All such type of investment business, without licenses can be prosecuted under PMLA, FERA, GST, Income Tax laws.
Keep Smiling .... Hemant Agarwal
Obtain money lending licence, as advised by expert Mr. Heman Agarwal, I agree.
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