Investment in Immovable property
This query is : Open
23 December 2010
Can a foreign person (not an Indian citizen or Indian origin ) invest in an immovable property in India(other than for real estate business ) ,please explain according to FEMA with clear sections?
23 December 2010
No. Under section 2 (ze) of the Foreign Exchange Management Act, 1999 ‘transfer’ includes among others, ‘purchase’. Therefore, a foreign national of non-Indian origin resident outside India cannot acquire any immovable property in India by way of purchase.
23 December 2010
Dear Shafaf
Foreign Citizen resident in India may be allowed to acquire Immovable property in India. However, Citizen of Pakistan, Bangladesh, Nepal, Chaina etc shall require prior approval of RBI.
Foreign Citizen resident outside India are generally not allowed to acquire Immovable property in India. However, they may seek permission of RBI
Regards
Juzer
Foreign Citizen resident in India may be allowed to acquire Immovable property in India. However, Citizen of Pakistan, Bangladesh, Nepal, Chaina etc shall require prior approval of RBI.
Foreign Citizen resident outside India are generally not allowed to acquire Immovable property in India. However, they may seek permission of RBI
Regards
Juzer
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- REGARDING GST LIABILITY/....
- Tax liability on income of freelancer
- SALE BILL AGAINST GOODS RETURN
- Loan by Partnership Firm
- STCG FOR GOLD ETFs
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
