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

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don ali

Rank: Youngling

Posts: 1

Join Date: 7/13/13

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

7/13/13 8:44 AM

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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