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Monday, February 01, 2021
Khaleej Times - India Budget: Nris Can Open One-Person Companies
By Bal Krishen in 'Century in News'
Bal krishen, Special to Khaleej Times, Dated February 01, 2021
Indian Finance Minister Nirmala Sitharaman brought cheer to Indian entrepreneurs with a bold move to permit one-person companies.
In a major boost for Indian expats (NRI) investments in India, there is no restriction on paid up capital and turnover to incentivise incorporation of one-person companies in their home country.
The move is especially likely to benefit the Indian real estate sector, which typically attracts lots of investment and interest from expats residing in the Gulf.
"For FY 2021, total investments by India expat population in real estate sector is expected to exceed $13.1 billion, a five percent year-on-year growth.
"Recent price correction in certain pockets of India real estate clusters coupled with the new budget moves would likely act as huge trigger for fresh impetus to this sector. Furthermore, more and more expat investors are likely to use this opportunity for investing even in smaller amounts at the start," said Krishen.
Dhaval Jasani, Founder and CEO at ZTI, said the move will invite more talent back to India.
"One-person companies will enable entrepreneurs to establish and market their own developments rather than partnering with bigger companies.”
Source: Khaleej Times__1462972547.jpg)
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