Can Resident Indians incorporate a Company/LLC outside India under Liberalised Remittance Scheme

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The Author is asked this query on almost daily basis by my friends and colleagues¬† and all of them are of view that incorporation of Companies/LLC outside India is permitted under Liberalised Remittance Scheme ,2004.In author’s opinion based on RBI guidelines and rules, is that ¬†RBI doesn’t permit incorporation of Company /LLC by an individual…

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