Can a person resident outside India who has established a Liaison Office in India in accordance with FERA/FEMA regulations purchase immovable property?
A.40. No. Q. 41. Can a person resident outside India who has established a Branch Office or other place of business for carrying on in India any activity in accordance with FERA/FEMA regulations purchase commercial/residential property? A.41. Yes, provided it is necessary for or incidental to carrying on such activity and all applicable laws, rules, regulations or directions are duly complied with. The purchase price should be paid by way of inward remittance through proper banking channel. A declaration in form IPI should be filed with Reserve Bank within ninety days from the date of acquisition of commercial/residential property.
Related Questions
- Can a person resident outside India who has established a Branch Office or other place of business in India in accordance with FERA/FEMA regulations purchase immovable property?
- Can a person resident outside India who has established a Liaison Office in India in accordance with FERA/FEMA regulations purchase immovable property?
- How can a person resident outside India acquire immovable property for carrying on in India any activity in accordance with FERA/FEMA regulations?
