Can a name of a foreign national of non-Indian origin be added as a second holder to a residential or commercial property purchased by NRI/PIO?
No. 7 Can a foreign national of non-Indian origin resident outside India acquire any immovable property in India by way of purchase? 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. 8 Can a foreign national of non-Indian origin acquire residential property on a lease in India? Yes. A Foreign National of non-Indian origin including a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan may acquire only residential accommodation on lease, not exceeding five years for which he/she does not require prior permission of Reserve Bank of India. 9 Can a person resident outside India (i.e. a NRI or a PIO or a foreign national of non-Indian origin) acquire agricultural land/plantation property/farm house in India by way of purchase? No. A person re
Related Questions
- Can a name of a foreign national of non-Indian origin be added as a second holder to a residential or commercial property purchased by NRI/PIO?
- Can a foreign national of non-Indian origin resident outside India acquire residential or commercial property in India by way of gift?
- Can a foreign national of non-Indian origin resident outside India acquire residential/ commercial in India by way of gift?
