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Purchase of immovable property by citizen of china

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 December 2015 A PERSON CITIZEN OF CHINA WANT TO PURCHASE AN IMMOVABLE PROPERTY IN DELHI AND HE IS ALSO A DIRECTOR OF A COMPANY WHICH IS REGISTERED IN INDIA. CAN ANYONE TELL ME THE WHETHER HE IS ELIGIBLE??? IF YES THEN LET ME KNOW THE PROCEDURE??? WHAT IS THE COMPLIANCES IN FEMA?????
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
09 December 2015 He is eligible only he is resident of India stays in India for more than 182 days. If he is resident then with the permission of RBI he can buy the property.
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