What role should I give for my business partner?

KingKKingK Posts: 5subscriber
I own a web site that caters to the real estate segment in India. Right now I`m planning to open an office in India. Since I`m in US I have to strongly rely on the person who would head the Indian operations. Regarding this I`d been talking to my friend back in India and he is interested. I expect him to do the following. 
 
>He would invest 30-40% for the start-up cost.
>He would run the Indian operations and would be responsible for the day to day activities of the employees.
 
I will be maintaining the web site, will plan the marketing and business strategy. Based on what I have for him, what should be his role/designation?
 
I was thinking that he would be the Managing Director for the Office reporting up to me. Is this right? Any ideas suggestions greatly appreciated
 
 

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