Rbi approval for purchase of immovable property in usa
This query is : Resolved
17 February 2012
An Indian company wants to purchase a flat in USA for USD 0.8 Million (convertible INR 4 Crore) to open a liaison office.
The average annual turn over for last two financial years is Rs 653 Lakh and net worth of the company is Rs 320 lakh.
I would like to know :-
1.whether RBI approval is required for doing the above transaction.
2.whether loan can be taken in USA for purchase of aforesaid property.
3.What will be the mode/format for making application to RBI for it's approval.
4.Whether the above premises can be let out or used for any other purpose.
I will be grateful for earliest response
With Regards:-
Lawkush Prasad
The average annual turn over for last two financial years is Rs 653 Lakh and net worth of the company is Rs 320 lakh.
I would like to know :-
1.whether RBI approval is required for doing the above transaction.
2.whether loan can be taken in USA for purchase of aforesaid property.
3.What will be the mode/format for making application to RBI for it's approval.
4.Whether the above premises can be let out or used for any other purpose.
I will be grateful for earliest response
With Regards:-
Lawkush Prasad
18 February 2012
links is:
http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=7008&Mode=0
http://www.rbi.org.in/scripts/FAQAcquisition.aspx
http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=7008&Mode=0
http://www.rbi.org.in/scripts/FAQAcquisition.aspx
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