Can PIO and OCI setup business in India
Question: Can PIO and OCI setup business in India?
Raju Kanumuri: Yes, PIO and OCIs can set up business in India. They are allowed to set up a limited liability company (LLC) and limited liability partnership (LLP) form of company. For more information you can follow the link https://www.mea.gov.in/faq-overseas-indians.htm
Q: Can the NRI deposits be prematurely extended to get the benefit of higher interest?
A: Yes, the deposit will earn interest without penalty for the period it has run, provided it has run for the minimum maturity period and thereafter at the higher interest rate.
Q: Will, the bank renew our NRE/FCNR bank deposits automatically?
A: Yes, provided automatic renewal instructions are given at the time of opening the deposit in which case, it will be automatically renewed for an identical period.
Q: Can NRI invest in immovable proprietory concern?
A: Yes, NRI can invest in capital proprietary and partnership firms engaged in manufacturing, commerce or trading activities on a non-repatriation basis
Q: Can NRI invest in shares of Indian Cos and other securities on a non-repatriation basis?
A: Yes, NRIs can invest without any limit on the non-repatriation basis in shares and convertible debentures of Indian Cos., issued either by public issue or private placement or right issues. NRI can...
Q: Can OCI holders open PPF account in India?
A: OCI holders who are living in India are considered to be residents in India. Their status is no longer that of a Non-Resident (NRI). Therefore they can open PPF account in India.
While we are on...
Q: What are the step by step instructions to replace lost OCI card?
A: Before a lost OCI card can be replaced,
Applicants should file a police report. To apply for a replacement OCI Card, applicants will have to provide a copy of the complaint filed with the police....
Q: Can i repatriate funds in the NRI account?
A: The principal as well as the interest of the funds in an NRI account can be repatriated only if a person holds either an NRE account or an FCNR account. In case of an NRO account, only interest...
Q: Are there any prohibitions on the purpose for which loans cannot be taken?
A: The loans cannot be utilized for the purpose of re-lending or for carrying on agriculture or plantation activities or for investment in real estate business.