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Can a foreign national of non-Indian origin resident outside India acquire any immovable property in India by way of purchase?

April 26, 2017acquire foreign immovable India National non-Indian origin outside Property resident

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Can a foreign national of non-Indian origin resident outside India acquire any immovable property in India by way of purchase?

6 Answers

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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.

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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.

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Posted

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.

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Posted

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.

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10 Posted

Ans.: 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.