foreign national owning property in India
Imran Ahmed
(Querist) 27 May 2011
This query is : Resolved
Can a foreign national married to an Indian and living in India for the past 13 years co-own a house with her husband. The land/house was purchased in 2002.
Regards
Imran Ahmed
A V Vishal
(Expert) 27 May 2011
Yes, a foreign national who is a ‘person resident in India’ within the meaning of Section 2(v) of FEMA, 1999 can purchase immovable property in India,but the person concerned would have to obtain the approvals and fulfil the requirements, if any, prescribed by other authorities, such as, the State Government concerned, etc. The onus to prove his/her residential status is on the individual as per the extant FEMA provisions, if required by any authority. However, a foreign national resident in India who is a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan would require prior approval of the Reserve Bank.
meaning of Section 2(v) of FEMA, 1999: person resident in India" means—
(i) a person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year but does not include—
(A) a person who has gone out of India or who stays outside India, in either case—
(a) for or on taking up employment outside India, or
(b) for carrying on outside India a business or vocation outside India, or
(c) for any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period;
(B) a person who has come to or stays in India, in either case, otherwise than—
(a) for or on taking up employment in India, or
(b) for carrying on in India a business or vocation in India, or
(c) for any other purpose, in such circumstances as would indicate his intention to stay in India for an uncertain period;
(ii) any person or body corporate registered or incorporated in India,
(iii) an office, branch or agency in India owned or controlled by a person resident outside India,
(iv) an office, branch or agency outside India owned or controlled by a person resident in India;
Uma parameswaran
(Expert) 27 May 2011
Yes. Acquiring of immovable property in India by NRI, PIO or a forign national of non Indian orgin residing in India are regulated by FEMA (Foreign Exchange Managment Act )and the notifications and guidlines of reserve Bank of India.
Guest
(Expert) 01 June 2011
Has she been granted citizenship of India or not?
