r2i forum

The OCI does not give you any further benefit than not having one. I had a company launched when I was just a US citizen with a tourist visa. I had to appoint a local director on the board who would sign the company paperwork. They had to have some shares in the company(I gave 1%).

You donot have to have an entity in US. They(your client) can wire transfer you the money based on your payment schedule, if they are willing to take that trouble.

I live in US and hence had a US entity which then outsourced the work to Indian company. All my clients paid the US entity and I forwarded the funds to India. Of course this setup was to suit my needs. If you do not live in US then you can do away with the middle entity.

Hyd

Hyderabadi,

Thanks for the info. I guess if I start a company I might have to have a local director.

I am leaning towards starting small though - maybe a sole proprietorship or partnership (partner too will be USC with OCI). I am still not clear if this is possible without having a local person involved.

Thanks!

This article lists the steps involved in registering a business in India for NRI's. It does not mention anything about having to appoint an Indian Citizen as a shareholder.

http://trak.in/tags/business/2009/07/01/starting-business-in-india-simplified-process/

Hi ivan-tx,

USC with OCI can start a proprietorship or partnership firm in India with a condition that amount invested as capital cannot be repatriated to outside India however profits after of appropriate taxes can be taken back to USA.

Anuj
[Deleted by admin - violation of COC]