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    Question

    Who can open partnership/ proprietorship concerns in

    India on non-repatriation basis? i. NRI ii. Foreigner
    A Only i Correct Answer Incorrect Answer
    B Only ii Correct Answer Incorrect Answer
    C i always and ii with special permissions Correct Answer Incorrect Answer
    D None of these Correct Answer Incorrect Answer
    E Both of these Correct Answer Incorrect Answer

    Solution

    Only NRIs are allowed to set up partnership/ proprietorship concerns in India on non-repatriation basis. Non-Repatriable Investment: NRI cannot convert Invested money back to foreign currency (to an investor’s home country).

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