Lend money to a friend to invest on land and properties in India

  • Thread starter romy_mathew
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romy_mathew

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Can anyone tell me the legal obligations to give money to an Indian friend to invest in land and properties in India?

The plan is to transfer money from my AIB account to his account in Ireland so that I can keep a record of transactions

And when the deal is over he will be transferring investment + profit from his account to my account.

Will he be facing any tax? How much tax I will be paying for the profit I made?

Anyone have similar experience?
 
It is an April 1st. post after all. But then again my new friend in Nigeria seems to be very eager to make a lot of money for me.
 
No...but just completed one project successfully...plan is to do more similar projects
 
Assuming it's not a windup.

Overseas tax is very complicated and you need professional advice.

your friend would not be subject to any Irish tax, but may well be subject to Indian tax.

you would be subject to Irish income tax and capital gains tax on all your income and profits, wherever they arise.

The Indian authorities may view you as taxable in India as well.

Brendan
 
thanks Brendan...very informative and useful...thanks
 
Are you seriously going to just transfer money from your account to anybody but particularly a foreign national?
 
There is a problem repatriating cash/profits/currency out of India AFAIK, please check!!!
 
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