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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